B. Riley Raises Broadcom Limited (AVGO) Price Target to $315.00

Broadcom Limited (NASDAQ:AVGO) had its price target increased by B. Riley from $305.00 to $315.00 in a research note issued to investors on Thursday, November 2nd, Marketbeat.com reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. B. Riley’s price target would indicate a potential upside of 19.65% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $285.00 price target on shares of Broadcom Limited in a research report on Wednesday, July 12th. Vetr lowered Broadcom Limited from a “strong-buy” rating to a “buy” rating and set a $260.93 price target for the company. in a research report on Monday, July 10th. Cowen and Company reaffirmed a “buy” rating and issued a $260.00 price target on shares of Broadcom Limited in a research report on Friday, August 11th. BidaskClub lowered Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $270.00 target price on shares of Broadcom Limited in a research report on Friday, August 11th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Broadcom Limited currently has a consensus rating of “Buy” and an average price target of $284.31.

Shares of Broadcom Limited (NASDAQ:AVGO) traded down $1.75 during trading on Thursday, hitting $263.26. 1,971,700 shares of the stock traded hands, compared to its average volume of 2,749,212. 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 has a 1 year low of $160.62 and a 1 year high of $281.80. The company has a market capitalization of $108,690.00, a PE ratio of 20.03, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05.

Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The firm had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the business posted $2.89 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. analysts forecast that Broadcom Limited will post 13.91 earnings per share for the current year.

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In related news, SVP Bryan Ingram sold 30,000 shares of the business’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was 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 ninety days. Corporate insiders own 3.60% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Broadcom Limited by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after buying an additional 793,335 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Broadcom Limited by 3.5% during the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after purchasing an additional 798,982 shares during the last quarter. State Street Corp boosted its holdings in shares of Broadcom Limited by 1.6% during the second quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock worth $3,742,946,000 after purchasing an additional 255,044 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Broadcom Limited by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after purchasing an additional 1,338,695 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of Broadcom Limited by 26.7% in the 2nd quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock worth $1,245,855,000 after buying an additional 1,128,052 shares during the period. 90.11% of the stock is owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Broadcom Limited (NASDAQ:AVGO)

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