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.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.82 by $0.16. The business had revenue of $5.06 billion for the quarter, compared to analyst estimates of $5.06 billion. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same quarter last year, the business earned $4.10 earnings per share. equities research analysts anticipate that Broadcom will post 18.09 EPS for the current fiscal year.

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.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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