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A number of stock research firms have changed their ratings and price targets for Broadcom (NASDAQ: BRCM) during the last seven days:

  • Broadcom had its price target raised by analysts at BMO Capital Markets from $27.00 to $41.00. They now have a “market perform” rating on the stock.
  • Broadcom is now covered by analysts at Canaccord Genuity. They set a “buy” rating and a $42.00 price target on the stock.
  • Broadcom was given a new $46.00 price target on by analysts at Canaccord Genuity.
  • Broadcom was upgraded by analysts at TheStreet to a “buy” rating.
  • Broadcom was downgraded by analysts at Benchmark Co. from a “buy” rating to a “hold” rating. They now have a $40.00 price target on the stock. They noted that the move was a valuation call. They noted that the move was a valuation call.

Broadcom Co. (NASDAQ:BRCM) opened at 38.48 on Wednesday. Broadcom Co. has a one year low of $23.25 and a one year high of $38.85. The stock has a 50-day moving average of $32.84 and a 200-day moving average of $30.58. The company has a market cap of $22.511 billion and a price-to-earnings ratio of 56.77. Broadcom also was the recipient of a large drop in short interest in May. As of May 30th, there was short interest totalling 11,066,875 shares, a drop of 13.6% from the May 15th total of 12,810,746 shares. Based on an average daily volume of 5,129,203 shares, the days-to-cover ratio is currently 2.2 days. Approximately 2.1% of the shares of the stock are short sold.

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

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