Broadcom Corp. PT Lowered to $30.00 (BRCM)
Research analysts at Stifel Nicolaus lowered their target price on shares of Broadcom Corp. (NASDAQ:BRCM) from $36.00 to $30.00 in a report released on Wednesday, AR Network reports. The firm currently has a “buy” rating on the stock. Stifel Nicolaus’ target price suggests a potential upside of 10.54% from the stock’s previous close.
A number of other analysts have also recently weighed in on BRCM. Analysts at Wedbush downgraded shares of Broadcom Corp. from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday. They now have a $27.00 price target on the stock, down previously from $33.00. Separately, analysts at Cowen and Company cut their price target on shares of Broadcom Corp. from $33.00 to $31.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Finally, analysts at Drexel Hamilton initiated coverage on shares of Broadcom Corp. in a research note to investors on Monday. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-five have given a buy rating to the company. Broadcom Corp. has an average rating of “Buy” and an average target price of $33.91.
Shares of Broadcom Corp. (NASDAQ:BRCM) opened at 27.14 on Wednesday. Broadcom Corp. has a one year low of $23.25 and a one year high of $37.85. The stock’s 50-day moving average is $26.19 and its 200-day moving average is $32.3. The company has a market cap of $15.714 billion and a P/E ratio of 37.59. Broadcom Corp. also was the target of unusually large options trading on Monday. Stock investors purchased 23,511 call options on the company. This represents an increase of approximately 216% compared to the typical volume of 7,429 call options.
Broadcom Corp. (NASDAQ:BRCM) last issued its quarterly earnings data on Tuesday, October 22nd. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters 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 in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Broadcom Corp. will post $2.62 EPS for the current fiscal year.
Broadcom Corporation (NASDAQ:BRCM) is a global semiconductor solution for wired and wireless communications.
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