Mizuho Raises Broadcom (NASDAQ:AVGO) Price Target to $260.00

Broadcom (NASDAQ:AVGO) had its price target upped by investment analysts at Mizuho from $245.00 to $260.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the semiconductor manufacturer’s stock. Mizuho’s price objective suggests a potential upside of 16.79% from the company’s current price.

Other equities research analysts have also issued reports about the stock. Barclays increased their target price on shares of Broadcom from $200.00 to $205.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Cantor Fitzgerald increased their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Citigroup boosted their target price on Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Benchmark restated a “buy” rating and set a $255.00 price target (up previously from $210.00) on shares of Broadcom in a report on Friday, December 13th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus target price of $223.54.

Broadcom Trading Down 2.9 %

Broadcom stock traded down $6.68 during trading on Friday, hitting $222.63. The company had a trading volume of 11,707,361 shares, compared to its average volume of 24,369,479. The stock has a market cap of $1.04 trillion, a price-to-earnings ratio of 193.42, a price-to-earnings-growth ratio of 2.15 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom has a 1-year low of $107.45 and a 1-year high of $251.88. The company’s 50 day simple moving average is $195.79 and its 200-day simple moving average is $175.31.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, analysts expect that Broadcom will post 3.79 EPS for the current fiscal year.

Insider Buying and Selling at Broadcom

In other news, insider Charlie B. Kawwas sold 40,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $231.98, for a total value of $9,279,200.00. Following the sale, the insider now owns 696,730 shares in the company, valued at approximately $161,627,425.40. This represents a 5.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 20,168 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 187,278 shares of company stock valued at $44,046,240 in the last ninety days. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. NCP Inc. lifted its holdings in shares of Broadcom by 615.4% in the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock worth $747,000 after purchasing an additional 400 shares during the last quarter. Vest Financial LLC grew its position in shares of Broadcom by 15.1% during the second quarter. Vest Financial LLC now owns 2,206 shares of the semiconductor manufacturer’s stock worth $3,542,000 after acquiring an additional 290 shares during the last quarter. Robeco Schweiz AG increased its holdings in shares of Broadcom by 18.0% in the 2nd quarter. Robeco Schweiz AG now owns 5,900 shares of the semiconductor manufacturer’s stock worth $9,473,000 after acquiring an additional 900 shares during the period. Oppenheimer & Co. Inc. lifted its position in Broadcom by 8.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 32,646 shares of the semiconductor manufacturer’s stock valued at $52,414,000 after purchasing an additional 2,575 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in Broadcom by 3.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 778,492 shares of the semiconductor manufacturer’s stock valued at $1,248,411,000 after purchasing an additional 25,181 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.