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Equities research analysts at Cowen and Company increased their price target on shares of Broadcom (NASDAQ:BRCM) from $39.00 to $43.00 in a research note issued to investors on Wednesday. The firm currently has an “outperform” rating on the stock. Cowen and Company’s target price indicates a potential upside of 10.97% from the company’s current price.

Shares of 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 posted its earnings results 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.

A number of other analysts have also recently weighed in on BRCM. Analysts at Oppenheimer raised their price target on shares of Broadcom from $45.00 to $50.00 in a research note on Wednesday. Separately, 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 investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and nineteen have issued a buy rating to the stock. Broadcom currently has an average rating of “Buy” and an average target price of $38.68.

In other Broadcom news, CEO Scott A. Mcgregor sold 75,000 shares of the stock on the open market in a transaction dated Thursday, July 17th. The shares were sold at an average price of $37.99, for a total value of $2,849,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

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