Broadcom Given New $46.00 Price Target at Brean Capital (BRCM)
Stock analysts at Brean Capital upped their target price on shares of Broadcom (NASDAQ:BRCM) from $39.00 to $46.00 in a report issued on Wednesday. The firm currently has a “buy” rating on the stock. Brean Capital’s price target would indicate a potential upside of 18.71% from the stock’s previous close.
Broadcom (NASDAQ:BRCM) opened at 38.75 on Wednesday. Broadcom has a 52 week low of $23.25 and a 52 week high of $38.89. The stock has a 50-day moving average of $37.74 and a 200-day moving average of $32.1. The company has a market cap of $22.669 billion and a P/E ratio of 56.73.
Broadcom (NASDAQ:BRCM) last issued its quarterly earnings data on Tuesday, July 22nd. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter in the previous year, the company posted $0.70 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. On average, analysts predict that Broadcom will post $2.56 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Cowen and Company raised their price target on shares of Broadcom from $39.00 to $43.00 in a research note on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Oppenheimer raised their price target on shares of Broadcom from $45.00 to $50.00 in a research note on Wednesday. Finally, analysts at Wedbush raised their price target on shares of Broadcom from $43.00 to $45.00 in a research note on Monday. They now have an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $38.68.
In other Broadcom news, CEO Scott A. Mcgregor unloaded 75,000 shares of the company’s stock in a transaction dated Thursday, July 17th. The stock was sold at an average price of $37.99, for a total transaction of $2,849,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Broadcom Corporation (NASDAQ:BRCM), is a global semiconductor solution for wired and wireless communications.
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