Broadcom Limited (NASDAQ:AVGO) received a $286.00 price target from equities research analysts at Jefferies Group LLC in a note issued to investors on Wednesday, October 18th. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Jefferies Group LLC’s price target would suggest a potential upside of 3.06% from the company’s current price.
A number of other equities analysts also recently weighed in on the stock. Barclays PLC upped their price target on shares of Broadcom Limited from $290.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. KeyCorp reaffirmed a “buy” rating and issued a $290.00 price target on shares of Broadcom Limited in a research note on Tuesday, October 17th. SunTrust Banks, Inc. reissued a “buy” rating and set a $281.00 target price on shares of Broadcom Limited in a research report on Thursday, October 12th. Royal Bank Of Canada reissued a “top pick” rating and set a $285.00 target price on shares of Broadcom Limited in a research report on Wednesday, October 11th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $285.00 target price on shares of Broadcom Limited in a research report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, thirty-one have assigned a buy rating and three have assigned a strong buy rating to the stock. Broadcom Limited has a consensus rating of “Buy” and an average target price of $282.19.
Broadcom Limited (AVGO) traded up $3.89 during midday trading on Wednesday, hitting $277.52. 7,630,216 shares of the stock were exchanged, compared to its average volume of 2,970,000. Broadcom Limited has a 1-year low of $160.62 and a 1-year 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. The firm has a market capitalization of $112,700.00, a P/E ratio of 20.68, a PEG ratio of 1.30 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, topping 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 business had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the business posted $2.89 earnings per share. Broadcom Limited’s revenue for the quarter was up 17.5% compared to the same quarter last year. analysts anticipate 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 firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. 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 firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were 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 ninety days, insiders have sold 81,788 shares of company stock valued at $20,054,837. Company insiders own 3.60% of the company’s stock.
Several institutional investors have recently modified their holdings of AVGO. Waldron LP acquired a new stake in shares of Broadcom Limited in the first quarter valued at approximately $302,000. Rafferty Asset Management LLC increased its holdings in shares of Broadcom Limited by 358.8% in the first quarter. Rafferty Asset Management LLC now owns 59,905 shares of the semiconductor manufacturer’s stock valued at $13,117,000 after purchasing an additional 46,847 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Broadcom Limited by 65.2% in the first quarter. Jones Financial Companies Lllp now owns 9,704 shares of the semiconductor manufacturer’s stock valued at $2,125,000 after purchasing an additional 3,831 shares in the last quarter. Credit Agricole S A increased its holdings in shares of Broadcom Limited by 4.4% in the first quarter. Credit Agricole S A now owns 399,011 shares of the semiconductor manufacturer’s stock valued at $87,367,000 after purchasing an additional 16,962 shares in the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Broadcom Limited by 23.5% in the first quarter. Van ECK Associates Corp now owns 162,648 shares of the semiconductor manufacturer’s stock valued at $35,613,000 after purchasing an additional 30,952 shares in the last quarter. 89.90% 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.
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