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Shares of Broadcom (NASDAQ:BRCM) have earned a consensus recommendation of “Hold” from the forty-three brokerages that are presently covering the stock, Stock Ratings Network reports. One investment analyst has rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and nineteen have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $37.56.

BRCM has been the subject of a number of recent research reports. Analysts at Benchmark Co. downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday. They now have a $40.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at TheStreet upgraded shares of Broadcom to a “buy” rating in a research note on Monday. Finally, analysts at Canaccord Genuity set a $46.00 price target on shares of Broadcom in a research note on Friday, June 13th.

In other Broadcom news, CEO Scott A. Mcgregor sold 75,000 shares of Broadcom stock on the open market in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $38.43, for a total transaction of $2,882,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Shares of Broadcom (NASDAQ:BRCM) traded up 0.08% on Friday, hitting $38.39. The stock had a trading volume of 1,349,441 shares. Broadcom has a 52 week low of $23.25 and a 52 week high of $38.85. The stock’s 50-day moving average is $33.28 and its 200-day moving average is $30.69. The company has a market cap of $22.458 billion and a P/E ratio of 56.33. Broadcom also was the recipient of a large decrease in short interest during the month of May. As of May 30th, there was short interest totalling 11,066,875 shares, a decrease of 13.6% from the May 15th total of 12,810,746 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average daily trading volume, of 5,129,203 shares, the short-interest ratio is presently 2.2 days.

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. Analysts expect that Broadcom will post $2.56 EPS for the current fiscal year.

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

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