Vetr Inc. Lowers Broadcom Limited (AVGO) to Hold
Broadcom Limited (NASDAQ:AVGO) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a report released on Monday. They currently have a $290.34 target price on the semiconductor manufacturer’s stock. Vetr‘s price objective would suggest a potential upside of 2.82% from the stock’s current price.
A number of other brokerages have also weighed in on AVGO. Mizuho restated a “buy” rating and set a $290.00 price objective on shares of Broadcom in a research report on Monday, November 6th. Drexel Hamilton restated a “buy” rating and set a $302.00 price objective on shares of Broadcom in a research report on Monday, November 6th. B. Riley restated a “buy” rating and set a $315.00 price objective on shares of Broadcom in a research report on Monday, November 20th. Royal Bank Of Canada reiterated a “buy” rating on shares of Broadcom in a research report on Friday, November 3rd. Finally, Jefferies Group LLC lifted their price target on Broadcom from $70.00 to $315.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-one have given a buy rating and three have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $286.42.
Broadcom (AVGO) opened at $282.38 on Monday. The firm has a market capitalization of $115,205.11, a PE ratio of 21.34, a PEG ratio of 1.40 and a beta of 1.05. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. Broadcom has a 12-month low of $160.62 and a 12-month high of $282.99.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. The firm had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. Broadcom had a return on equity of 26.82% and a net margin of 3.12%. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.89 earnings per share. sell-side analysts forecast that Broadcom will post 13.92 EPS for the current year.
In other Broadcom news, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $244.01, for a total value of $7,320,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The disclosure for this sale can be found here. In the last three months, insiders sold 104,383 shares of company stock valued at $25,949,184. 3.60% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc bought a new stake in shares of Broadcom during the second quarter valued at approximately $113,000. AllSquare Wealth Management LLC bought a new stake in shares of Broadcom during the third quarter valued at approximately $113,000. Shine Investment Advisory Services Inc. bought a new stake in shares of Broadcom during the second quarter valued at approximately $116,000. Tower Research Capital LLC TRC raised its stake in shares of Broadcom by 473.0% during the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after acquiring an additional 473 shares in the last quarter. Finally, Catamount Wealth Management bought a new stake in shares of Broadcom during the second quarter valued at approximately $140,000. 89.42% of the stock is owned by hedge funds and other institutional investors.
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Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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