Broadcom (NASDAQ:AVGO) PT Raised to $250.00
Broadcom (NASDAQ:AVGO) had its price objective raised by equities research analysts at B. Riley from $245.00 to $250.00 in a research note issued on Friday, September 7th, Marketbeat Ratings reports. The firm presently has a “neutral” rating on the semiconductor manufacturer’s stock. B. Riley’s target price points to a potential upside of 5.78% from the stock’s previous close.
Several other equities analysts also recently weighed in on AVGO. BidaskClub downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Raymond James downgraded shares of Broadcom from an “outperform” rating to a “market perform” rating in a research note on Friday, July 13th. Bank of America boosted their price target on shares of Broadcom from $285.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, June 8th. Craig Hallum reissued a “buy” rating and issued a $300.00 price target (down from $330.00) on shares of Broadcom in a research note on Friday, September 7th. Finally, Citigroup boosted their price target on shares of Broadcom from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, June 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and twenty-eight have given a buy rating to the company. Broadcom has an average rating of “Buy” and an average target price of $288.56.
Shares of NASDAQ AVGO traded up $0.92 during trading on Friday, hitting $236.34. The company had a trading volume of 2,790,063 shares, compared to its average volume of 3,882,035. Broadcom has a fifty-two week low of $197.46 and a fifty-two week high of $285.68. The firm has a market cap of $99.24 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 0.95 and a beta of 0.94. The company has a quick ratio of 3.42, a current ratio of 3.98 and a debt-to-equity ratio of 0.64.
In other news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $204.90, for a total transaction of $4,098,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have sold 80,000 shares of company stock worth $18,078,200. Corporate insiders own 3.30% of the company’s stock.
Large investors have recently bought and sold shares of the company. Massey Quick Simon & CO. LLC acquired a new position in shares of Broadcom during the 2nd quarter worth $104,000. Zions Bancorporation acquired a new stake in Broadcom in the 2nd quarter valued at about $109,000. MUFG Americas Holdings Corp acquired a new stake in Broadcom in the 2nd quarter valued at about $109,000. MUFG Securities EMEA plc acquired a new stake in Broadcom in the 2nd quarter valued at about $117,000. Finally, First Personal Financial Services acquired a new stake in Broadcom in the 2nd quarter valued at about $126,000. 84.35% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also: Short Selling Stocks and Day Traders
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.