Broadcom Corp. Price Target Lowered to $30.00 at Societe Generale (BRCM)
Equities researchers at Societe Generale dropped their target price on shares of Broadcom Corp. (NASDAQ:BRCM) from $32.00 to $30.00 in a research report issued on Thursday, AnalystRatings.Net reports. The firm currently has a “hold” rating on the stock. Societe Generale’s price objective would indicate a potential upside of 9.75% from the stock’s previous close.
Shares of Broadcom Corp. (NASDAQ:BRCM) traded down 1.14% during mid-day trading on Thursday, hitting $27.335. The stock had a trading volume of 7,153,966 shares. Broadcom Corp. has a 1-year low of $23.25 and a 1-year high of $37.85. The stock’s 50-day moving average is $26.17 and its 200-day moving average is $32.18. The company has a market cap of $15.827 billion and a price-to-earnings ratio of 38.30.
Broadcom Corp. (NASDAQ:BRCM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.70 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.69 by $0.01. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts predict that Broadcom Corp. will post $2.65 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Susquehanna upgraded shares of Broadcom Corp. (NASDAQ:BRCM) from a “neutral” rating to a “positive” rating in a research note to investors on Tuesday. They now have a $35.00 price target on the stock, up previously from $33.00. Separately, analysts at Standpoint Research initiated coverage on shares of Broadcom Corp. (NASDAQ:BRCM) in a research note to investors on Tuesday, September 10th. They set a “buy” rating and a $33.00 price target on the stock. Finally, analysts at Barclays Capital cut their price target on shares of Broadcom Corp. (NASDAQ:BRCM) from $26.00 to $25.00 in a research note to investors on Friday, September 6th. They now have an “underweight” rating on the stock.
One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and thirty have given a buy rating to the company. Broadcom Corp. presently has an average rating of “Buy” and a consensus price target of $35.66.
Broadcom Corporation (NASDAQ:BRCM) is a global semiconductor solution for wired and wireless communications.
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