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Broadcom (NASDAQ:BRCM)‘s stock had its “outperform” rating reaffirmed by analysts at FBR Capital Markets in a research report issued to clients and investors on Tuesday. They currently have a $39.00 price objective on the stock, up from their previous price objective of $35.00. FBR Capital Markets’ target price would indicate a potential upside of 11.94% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Broadcom in a research note on Tuesday. They now have a $33.00 price target on the stock, up previously from $27.00. Separately, analysts at Credit Agricole upgraded shares of Broadcom from an “outperform” rating to a “buy” rating in a research note on Tuesday. Finally, analysts at Wedbush upgraded shares of Broadcom from a “neutral” rating to an “outperform” rating in a research note on Tuesday. They now have a $43.00 price target on the stock, up previously from $30.00. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-one have given a buy rating to the stock. Broadcom presently has a consensus rating of “Buy” and an average price target of $35.53.

Broadcom (NASDAQ:BRCM) traded up 2.86% on Tuesday, hitting $35.835. 11,721,817 shares of the company’s stock traded hands. Broadcom has a 1-year low of $23.25 and a 1-year high of $36.20. The stock’s 50-day moving average is $30.40 and its 200-day moving average is $29.68. The company has a market cap of $20.963 billion and a P/E ratio of 51.16. Broadcom also was the target of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totalling 12,810,746 shares, a decrease of 18.0% from the April 30th total of 15,615,564 shares. Based on an average daily trading volume, of 5,772,440 shares, the short-interest ratio is presently 2.2 days. Currently, 2.4% of the shares of the stock are short sold.

Broadcom (NASDAQ:BRCM) last posted its quarterly 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. Analysts expect that Broadcom will post $2.52 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Shareholders 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 1.38%. 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.

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