Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating reaffirmed by Mizuho in a report issued on Sunday, October 8th. They presently have a $290.00 target price on the semiconductor manufacturer’s stock. Mizuho’s price target points to a potential upside of 19.53% from the stock’s previous close.
Other equities research analysts also recently issued research reports about the company. B. Riley reiterated an “avgo (” rating and issued a $305.00 price objective on shares of Broadcom Limited in a report on Monday, August 21st. UBS AG reissued a “buy” rating and set a $265.00 target price on shares of Broadcom Limited in a research note on Monday, June 26th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $285.00 price objective on shares of Broadcom Limited in a research note on Wednesday, July 12th. Vetr downgraded Broadcom Limited from a “strong-buy” rating to a “buy” rating and set a $260.93 target price for the company. in a research note on Monday, July 10th. Finally, BidaskClub cut Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. One equities research analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. Broadcom Limited presently has a consensus rating of “Buy” and an average target price of $277.51.
Broadcom Limited (NASDAQ:AVGO) traded up 0.64% during midday trading on Friday, reaching $244.17. 1,621,995 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $245.16 and a 200-day moving average of $239.72. Broadcom Limited has a 12 month low of $160.62 and a 12 month high of $259.36. The stock has a market cap of $99.62 billion, a PE ratio of 185.96 and a beta of 1.08.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the company earned $2.89 earnings per share. Broadcom Limited’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, equities research analysts predict that Broadcom Limited will post $15.91 earnings per share for the current year.
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In other Broadcom Limited news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $246.48, for a total transaction of $4,929,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Bryan Ingram sold 30,000 shares of the stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 81,788 shares of company stock worth $20,054,837. Corporate insiders own 3.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Osborn Williams & Donohoe LLC grew its position in Broadcom Limited by 23.2% during the third quarter. Osborn Williams & Donohoe LLC now owns 3,343 shares of the semiconductor manufacturer’s stock valued at $811,000 after acquiring an additional 630 shares during the last quarter. Fulton Bank N.A. grew its holdings in shares of Broadcom Limited by 19.4% in the third quarter. Fulton Bank N.A. now owns 7,522 shares of the semiconductor manufacturer’s stock worth $1,825,000 after purchasing an additional 1,223 shares during the last quarter. Bridges Investment Management Inc. bought a new position in shares of Broadcom Limited in the third quarter worth approximately $576,000. Ardsley Advisory Partners grew its holdings in shares of Broadcom Limited by 33.3% in the second quarter. Ardsley Advisory Partners now owns 4,000 shares of the semiconductor manufacturer’s stock worth $932,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Intl Fcstone Inc. bought a new stake in Broadcom Limited in the second quarter valued at $1,104,000. Institutional investors and hedge funds own 89.65% of the company’s stock.
Broadcom Limited Company Profile
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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