Broadcom Rating Reiterated by Jefferies Group (BRCM)
A number of other firms have also recently commented on BRCM. Analysts at Bernstein raised their price target on shares of Broadcom from $44.00 to $46.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Broadcom from $40.00 to $45.00 in a research note on Wednesday, July 23rd. They now have a “positive” rating on the stock. Finally, analysts at Topeka Capital Markets raised their price target on shares of Broadcom from $40.00 to $45.00 in a research note on Wednesday, July 23rd. They now have a “buy” rating on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the company’s stock. Broadcom has a consensus rating of “Buy” and an average price target of $40.88.
Shares of Broadcom (NASDAQ:BRCM) opened at 37.30 on Monday. Broadcom has a 52 week low of $23.25 and a 52 week high of $40.74. The stock has a 50-day moving average of $37.76 and a 200-day moving average of $32.94. The company has a market cap of $22.044 billion and a P/E ratio of 34.06.
Broadcom (NASDAQ:BRCM) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.65 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.70 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. Analysts expect that Broadcom will post $2.84 EPS for the current fiscal year.
In other Broadcom news, EVP Daniel A. Marotta sold 11,228 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $37.30, for a total transaction of $418,804.40. 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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