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Shares of Broadcom (NASDAQ:BRCM) saw a significant decline in short interest in May. As of May 15th, there was short interest totalling 12,810,746 shares, a decline of 18.0% from the April 30th total of 15,615,564 shares, Analyst RN reports. Currently, 2.4% of the company’s stock are short sold. Based on an average daily volume of 5,772,440 shares, the short-interest ratio is presently 2.2 days.

BRCM has been the subject of a number of recent research reports. Analysts at Cowen and Company raised their price target on shares of Broadcom from $32.00 to $39.00 in a research note on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Goldman Sachs reiterated a “positive” rating on shares of Broadcom in a research note on Monday. Finally, analysts at Robert W. Baird raised their price target on shares of Broadcom to $45.00 in a research note on Monday. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $33.96.

Shares of Broadcom (NASDAQ:BRCM) opened at 34.84 on Tuesday. Broadcom has a 1-year low of $23.25 and a 1-year high of $36.20. The stock has a 50-day moving average of $30.40 and a 200-day moving average of $29.68. The company has a market cap of $20.381 billion and a P/E ratio of 46.80.

Broadcom (NASDAQ:BRCM) last announced its earnings results on Thursday, April 24th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.65 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts predict that Broadcom will post $2.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.38%. The ex-dividend date is Wednesday, May 28th.

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

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