Broadcom Corp. Price Target Cut to $27.00 by Analysts at UBS AG (BRCM)
Equities research analysts at UBS AG reduced their price target on shares of Broadcom Corp. (NASDAQ:BRCM) to $27.00 in a research note issued to investors on Wednesday, AnalystRatings.Net reports. The firm currently has a “neutral” rating on the stock. UBS AG’s target price points to a potential downside of 0.52% from the company’s current price. The analysts noted that the move was a valuation call.
BRCM has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity cut their price target on shares of Broadcom Corp. from $35.00 to $32.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Separately, analysts at Jefferies Group reiterated a “buy” rating on shares of Broadcom Corp. in a research note to investors on Wednesday. Finally, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Broadcom Corp. in a research note to investors on Wednesday. They now have a $30.00 price target on the stock. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and twenty-five have given a buy rating to the company’s stock. Broadcom Corp. presently has an average rating of “Buy” and a consensus price target of $33.74.
Shares of Broadcom Corp. (NASDAQ:BRCM) traded down 4.75% on Wednesday, hitting $25.85. 20,773,726 shares of the company’s stock traded hands. Broadcom Corp. has a 52 week low of $23.25 and a 52 week high of $37.85. The stock has a 50-day moving average of $26.19 and a 200-day moving average of $32.3. The company has a market cap of $14.967 billion and a P/E ratio of 37.59. Broadcom Corp. also saw unusually large options trading on Monday. Stock investors acquired 23,511 call options on the stock. This is an increase of 216% compared to the typical daily volume of 7,429 call options.
Broadcom Corp. (NASDAQ:BRCM) last announced its earnings results on Tuesday, October 22nd. The company reported $0.76 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.69 by $0.07. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the company posted $0.79 earnings per share. Broadcom Corp.’s revenue was up .8% compared to the same quarter last year. On average, analysts predict that Broadcom Corp. will post $2.62 earnings per share for the current fiscal year.
Broadcom Corporation (NASDAQ:BRCM) is a global semiconductor solution for wired and wireless communications.