Broadcom Limited (AVGO) Receives $274.45 Consensus Target Price from Brokerages

Broadcom Limited (NASDAQ:AVGO) has earned an average recommendation of “Buy” from the thirty-seven brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, thirty-one have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $277.11.

A number of analysts have weighed in on the stock. UBS AG reissued a “buy” rating and set a $265.00 target price (up previously from $245.00) on shares of Broadcom Limited in a research report on Monday, June 5th. B. Riley reissued a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a research report on Saturday, August 26th. Vetr raised shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 target price for the company in a research report on Monday, August 14th. J P Morgan Chase & Co reissued a “buy” rating and set a $315.00 target price on shares of Broadcom Limited in a research report on Tuesday. Finally, BidaskClub downgraded shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th.

COPYRIGHT VIOLATION WARNING: “Broadcom Limited (AVGO) Receives $274.45 Consensus Target Price from Brokerages” was originally reported by Stock Observer and is the sole property of of Stock Observer. If you are reading this piece on another website, it was stolen and republished in violation of US & international trademark & copyright laws. The correct version of this piece can be accessed at https://www.thestockobserver.com/2017/09/12/broadcom-limited-avgo-receives-274-45-consensus-target-price-from-brokerages.html.

Shares of Broadcom Limited (NASDAQ:AVGO) traded down 0.24% during midday trading on Friday, hitting $247.14. 1,840,384 shares of the stock traded hands. The firm’s 50-day moving average is $249.74 and its 200 day moving average is $235.37. The company has a market capitalization of $100.59 billion, a price-to-earnings ratio of 188.23 and a beta of 1.07. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36.

Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the firm posted $2.89 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. Equities analysts forecast that Broadcom Limited will post $15.92 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be paid a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Monday, September 18th. Broadcom Limited’s payout ratio is 348.72%.

In other news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total transaction of $2,445,900.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.60% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intl Fcstone Inc. bought a new stake in shares of Broadcom Limited during the 2nd quarter worth $1,104,000. Achmea Investment Management B.V. raised its stake in shares of Broadcom Limited by 19.2% during the 2nd quarter. Achmea Investment Management B.V. now owns 14,964 shares of the semiconductor manufacturer’s stock worth $3,485,000 after purchasing an additional 2,412 shares during the period. USA Financial Portformulas Corp bought a new stake in shares of Broadcom Limited during the 2nd quarter worth $6,621,000. Sentry Investment Management LLC raised its stake in shares of Broadcom Limited by 1.1% during the 2nd quarter. Sentry Investment Management LLC now owns 31,719 shares of the semiconductor manufacturer’s stock worth $7,392,000 after purchasing an additional 333 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Broadcom Limited by 10.3% during the 2nd quarter. Toronto Dominion Bank now owns 295,961 shares of the semiconductor manufacturer’s stock worth $68,961,000 after purchasing an additional 27,726 shares during the period. Institutional investors own 90.04% of the company’s stock.

About Broadcom Limited

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)

Receive News & Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply