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Broadcom (NASDAQ:BRCM) Director John E. Major sold 1,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $37.09, for a total value of $37,090.00. Following the completion of the sale, the director now directly owns 42,925 shares of the company’s stock, valued at approximately $1,592,088. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

A number of research firms have recently commented on BRCM. Analysts at Benchmark Co. downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, June 17th. 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, June 16th. Finally, analysts at Canaccord Genuity set a $46.00 price target on shares of Broadcom in a research note on Friday, June 13th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and nineteen have given a buy rating to the company. Broadcom has an average rating of “Buy” and an average target price of $37.65.

Broadcom (NASDAQ:BRCM) traded up 0.32% on Thursday, hitting $37.73. The stock had a trading volume of 3,043,166 shares. Broadcom has a 1-year low of $23.25 and a 1-year high of $38.85. The stock has a 50-day moving average of $35.3 and a 200-day moving average of $31.39. The company has a market cap of $22.072 billion and a P/E ratio of 55.23. Broadcom also was the target of a large increase in short interest in June. As of June 13th, there was short interest totalling 12,570,380 shares, an increase of 13.6% from the May 30th total of 11,066,875 shares. Based on an average trading volume of 16,507,458 shares, the short-interest ratio is currently 0.8 days. Approximately 2.4% of the shares of the stock are short sold.

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. On average, analysts predict that Broadcom will post $2.56 earnings per share for the current fiscal year.

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

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