Share on StockTwits

Broadcom (NASDAQ:BRCM) was upgraded by analysts at RBC Capital from a “sector perform” rating to an “outperform” rating in a research report issued to clients and investors on Monday, TheFlyOnTheWall.com reports.

A number of other analysts have also recently weighed in on BRCM. Analysts at Nomura downgraded shares of Broadcom from a “buy” rating to a “neutral” rating in a research note on Friday, May 2nd. They now have a $30.00 price target on the stock, down previously from $33.00. Separately, analysts at Zacks reiterated an “outperform” rating on shares of Broadcom in a research note on Wednesday, April 30th. They now have a $37.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Broadcom in a research note on Friday, April 25th. They now have a $34.00 price target on the stock. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and nineteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $32.61.

Shares of Broadcom (NASDAQ:BRCM) opened at 29.70 on Monday. Broadcom has a 1-year low of $23.25 and a 1-year high of $37.85. The stock’s 50-day moving average is $30.31 and its 200-day moving average is $29.31. The company has a market cap of $17.375 billion and a price-to-earnings ratio of 43.32.

Broadcom (NASDAQ:BRCM) last released its earnings data on Thursday, April 24th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.06. The company had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the company posted $0.65 earnings per share. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. Analysts expect that Broadcom will post $2.51 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Wednesday, May 28th.

Broadcom Corporation (NASDAQ:BRCM), is a global semiconductor solution for wired and wireless communications.

The Fly On The Wall

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.