Broadcom Corp. Price Target Cut to $27.00 (BRCM)
Equities researchers at Credit Suisse decreased their price target on shares of Broadcom Corp. (NASDAQ:BRCM) from $32.00 to $27.00 in a research report issued on Wednesday, Stock Ratings Network reports. The firm currently has a “neutral” rating on the stock. Credit Suisse’s price objective would suggest a potential upside of 2.23% from the company’s current price.
Broadcom Corp. (NASDAQ:BRCM) traded up 0.46% during mid-day trading on Wednesday, hitting $26.41. 9,085,075 shares of the company’s stock traded hands. 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 $15.291 billion and a P/E ratio of 36.41.
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. Analysts expect that Broadcom Corp. will post $2.64 EPS for the current fiscal year.
BRCM has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein cut their price target on shares of Broadcom Corp. from $36.00 to $30.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at B. Riley cut their price target on shares of Broadcom Corp. from $28.00 to $26.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Broadcom Corp. in a research note to investors on Wednesday. They now have a $28.00 price target on the stock. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have given a buy rating to the company. Broadcom Corp. currently has a consensus rating of “Buy” and an average price target of $32.31.
Broadcom Corporation (NASDAQ:BRCM) is a global semiconductor solution for wired and wireless communications.
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