Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating reaffirmed by research analysts at KeyCorp in a report issued on Tuesday, October 17th. They currently have a $290.00 price objective on the semiconductor manufacturer’s stock. KeyCorp’s price objective would indicate a potential upside of 4.50% from the company’s current price.
Other equities research analysts also recently issued research reports about the company. B. Riley reissued an “avgo (” rating and issued a $305.00 price objective on shares of Broadcom Limited in a report on Monday, August 21st. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $285.00 price target on shares of Broadcom Limited in a report on Wednesday, July 12th. Vetr downgraded Broadcom Limited from a “strong-buy” rating to a “buy” rating and set a $260.93 price target for the company. in a report on Monday, July 10th. Mizuho reaffirmed a “buy” rating and set a $275.00 price target on shares of Broadcom Limited in a report on Monday, July 3rd. Finally, UBS AG reiterated a “buy” rating and set a $265.00 price objective on shares of Broadcom Limited in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-one have assigned a buy rating and three have issued a strong buy rating to the company’s stock. Broadcom Limited currently has a consensus rating of “Buy” and a consensus price target of $282.19.
Shares of Broadcom Limited (AVGO) traded up $3.89 during trading hours on Tuesday, reaching $277.52. The company’s stock had a trading volume of 7,630,216 shares, compared to its average volume of 2,970,000. The company has a market cap of $112,700.00, a PE ratio of 20.68, a P/E/G ratio of 1.30 and a beta of 1.05. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $281.80. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.48 and a quick ratio of 3.84.
Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the business posted $2.89 EPS. Broadcom Limited’s revenue was up 17.5% on a year-over-year basis. sell-side analysts expect that Broadcom Limited will post 13.9 EPS for the current fiscal year.
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In related news, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $246.48, for a total value of $4,929,600.00. The disclosure for this sale can be found here. Insiders sold 81,788 shares of company stock worth $20,054,837 over the last 90 days. Company insiders own 3.60% of the company’s stock.
A number of institutional investors have recently modified their holdings of AVGO. BlackRock Inc. lifted its stake in Broadcom Limited by 2,707.3% in the 1st quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after purchasing an additional 22,307,935 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Broadcom Limited by 7.0% during the 1st quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after buying an additional 1,746,144 shares during the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of Broadcom Limited by 22,924.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock worth $6,569,000 after buying an additional 1,524,256 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Broadcom Limited by 29.3% during the 1st quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after buying an additional 1,519,598 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Broadcom Limited by 18.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after buying an additional 1,338,695 shares during the last quarter. 89.90% of the stock is currently owned by hedge funds and other institutional investors.
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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