Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by equities research analysts at Craig Hallum in a report issued on Friday, The Fly reports. They presently have a $315.00 price target on the semiconductor manufacturer’s stock, down from their previous price target of $325.00. Craig Hallum’s target price indicates a potential upside of 20.15% from the company’s previous close.
A number of other research analysts have also commented on the company. Mizuho upped their price target on Broadcom from $295.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, March 15th. JPMorgan Chase & Co. upped their price target on Broadcom from $325.00 to $365.00 in a report on Monday, March 18th. KeyCorp upped their price target on Broadcom from $335.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Citigroup initiated coverage on Broadcom in a report on Friday, March 15th. They set a “buy” rating for the company. Finally, Jefferies Financial Group upped their price target on Broadcom from $314.00 to $341.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $300.97.
Broadcom stock traded down $19.44 during trading hours on Friday, reaching $262.17. 90,391 shares of the company were exchanged, compared to its average volume of 3,175,010. The stock has a market capitalization of $110.73 billion, a P/E ratio of 13.92, a PEG ratio of 1.26 and a beta of 0.87. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47. Broadcom has a 12 month low of $197.46 and a 12 month high of $323.20.
Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.18 by $0.03. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the prior year, the business earned $4.88 earnings per share. The company’s revenue was up 10.0% on a year-over-year basis. Sell-side analysts anticipate that Broadcom will post 17.55 earnings per share for the current year.
In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $315.07, for a total value of $6,301,400.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $295.05, for a total value of $2,950,500.00. The disclosure for this sale can be found here. Insiders sold 67,824 shares of company stock valued at $20,565,519 over the last 90 days. 3.30% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in AVGO. AlphaOne Investment Services LLC bought a new stake in Broadcom in the fourth quarter valued at $25,000. First Financial Corp IN bought a new stake in Broadcom in the first quarter valued at $30,000. Daiwa SB Investments Ltd. bought a new stake in Broadcom in the first quarter valued at $30,000. CX Institutional grew its holdings in shares of Broadcom by 555.6% during the first quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock worth $35,000 after purchasing an additional 100 shares during the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of Broadcom during the fourth quarter worth $36,000. Hedge funds and other institutional investors own 84.42% of the company’s stock.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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