Broadcom (AVGO) Rating Increased to Buy at Charter Equity

Share on StockTwits

Broadcom (NASDAQ:AVGO) was upgraded by research analysts at Charter Equity from a “market perform” rating to a “buy” rating in a research note issued to investors on Friday, Marketbeat Ratings reports.

Several other equities analysts have also issued reports on AVGO. BidaskClub cut shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 4th. Zacks Investment Research raised shares of Broadcom from a “sell” rating to a “hold” rating in a research report on Wednesday, December 5th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $260.00 price objective on shares of Broadcom in a research report on Wednesday, November 28th. BMO Capital Markets reaffirmed a “hold” rating and issued a $230.00 price objective on shares of Broadcom in a research report on Friday, September 7th. Finally, B. Riley raised shares of Broadcom from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $250.00 to $300.00 in a research report on Monday, December 3rd. Nine analysts have rated the stock with a hold rating and thirty-four have assigned a buy rating to the company’s stock. Broadcom presently has a consensus rating of “Buy” and a consensus target price of $288.33.

AVGO opened at $228.56 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41. Broadcom has a 52 week low of $197.46 and a 52 week high of $274.26. The firm has a market cap of $94.50 billion, a price-to-earnings ratio of 12.28, a price-to-earnings-growth ratio of 0.98 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.58 by $0.27. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the business earned $4.59 EPS. The firm’s revenue was up 12.4% on a year-over-year basis. Equities analysts expect that Broadcom will post 18.45 EPS for the current year.

In related news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $238.62, for a total value of $4,772,400.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Kirsten M. Spears sold 1,194 shares of the company’s stock in a transaction dated Friday, September 28th. The shares were sold at an average price of $246.52, for a total transaction of $294,344.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,194 shares of company stock worth $14,266,145. 3.30% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the business. Alps Advisors Inc. bought a new stake in shares of Broadcom during the 2nd quarter worth approximately $643,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Broadcom during the 2nd quarter worth approximately $3,568,000. Integrated Investment Consultants LLC bought a new stake in shares of Broadcom during the 2nd quarter worth approximately $203,000. Assetmark Inc. bought a new stake in shares of Broadcom during the 2nd quarter worth approximately $241,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Broadcom during the 2nd quarter worth approximately $4,422,000. Hedge funds and other institutional investors own 85.22% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Featured Story: How accurate is the Rule of 72?

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


Leave a Reply

 
© 2006-2018 BBNS.