SunTrust Banks, Inc. restated their buy rating on shares of Broadcom Limited (NASDAQ:AVGO) in a research note published on Thursday. They currently have a $281.00 price target on the semiconductor manufacturer’s stock.
AVGO has been the topic of several other reports. Deutsche Bank AG raised their price target on Broadcom Limited from $275.00 to $295.00 and gave the stock a buy rating in a research report on Friday, August 25th. Sanford C. Bernstein restated an outperform rating and set a $285.00 price target on shares of Broadcom Limited in a research report on Tuesday, October 10th. Vetr lowered Broadcom Limited from a buy rating to a hold rating and set a $261.95 price target on the stock. in a research report on Monday, September 4th. B. Riley restated an avgo ( rating and set a $305.00 price target on shares of Broadcom Limited in a research report on Monday, August 21st. Finally, Drexel Hamilton restated a buy rating and set a $292.00 price target on shares of Broadcom Limited in a research report on Saturday, August 26th. One investment analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. Broadcom Limited presently has an average rating of Buy and a consensus target price of $276.93.
Broadcom Limited (AVGO) opened at 247.96 on Thursday. The firm has a market capitalization of $101.16 billion, a price-to-earnings ratio of 188.85 and a beta of 1.08. Broadcom Limited has a 1-year low of $160.62 and a 1-year high of $259.36. The company has a 50 day moving average price of $245.16 and a 200-day moving average price of $239.72.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping 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 business 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 EPS. Broadcom Limited’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, analysts forecast that Broadcom Limited will post $15.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were given a $1.02 dividend. The ex-dividend date was Monday, September 18th. This represents a $4.08 annualized dividend and a dividend yield of 1.65%. Broadcom Limited’s payout ratio is 348.72%.
In other news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $246.48, for a total value of $4,929,600.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. Insiders sold 61,788 shares of company stock worth $15,098,237 over the last 90 days. Company insiders own 3.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in AVGO. FNY Managed Accounts LLC purchased a new stake in shares of Broadcom Limited in the first quarter worth about $100,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Broadcom Limited in the second quarter worth about $113,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Broadcom Limited in the second quarter worth about $116,000. Archford Capital Strategies LLC lifted its position in shares of Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after buying an additional 168 shares in the last quarter. Finally, D. Scott Neal Inc. purchased a new stake in shares of Broadcom Limited in the second quarter worth about $127,000. 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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