Broadcom Corp. Price Target Cut to $31.00 by Analysts at Mizuho (BRCM)
Mizuho reduced their target price on shares of Broadcom Corp. (NASDAQ:BRCM) from $35.00 to $31.00 in a research note issued on Wednesday, Analyst Ratings Network reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective points to a potential upside of 17.38% from the company’s current price.
A number of other analysts have also recently weighed in on BRCM. Analysts at FBR Capital Markets cut their price target on shares of Broadcom Corp. from $32.00 to $29.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of Broadcom Corp. from $35.00 to $31.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Credit Suisse cut their price target on shares of Broadcom Corp. from $32.00 to $27.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $32.31.
Shares of Broadcom Corp. (NASDAQ:BRCM) traded up 0.46% on Wednesday, hitting $26.41. The stock had a trading volume of 9,085,075 shares. Broadcom Corp. has a 52 week low of $23.25 and a 52 week 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 price-to-earnings 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 (EPS) for the quarter, beating the 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 $2.64 EPS for the current fiscal year.
Broadcom Corporation (NASDAQ:BRCM) is a global semiconductor solution for wired and wireless communications.