Broadcom (NASDAQ: AVGO) recently received a number of ratings updates from brokerages and research firms:

  • 9/20/2016 – Broadcom is now covered by analysts at Susquehanna. They set a “positive” rating on the stock.
  • 9/15/2016 – Broadcom had its “overweight” rating reaffirmed by analysts at Pacific Crest.
  • 9/15/2016 – Broadcom had its price target lowered by analysts at Nomura to $200.00. They now have a “buy” rating on the stock.
  • 9/14/2016 – Broadcom had its “outperform” rating reaffirmed by analysts at Mizuho. They now have a $200.00 price target on the stock.
  • 9/9/2016 – Broadcom had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $215.00 price target on the stock.
  • 9/8/2016 – Broadcom had its “buy” rating reaffirmed by analysts at MKM Partners. They now have a $189.00 price target on the stock, up previously from $188.00.
  • 9/7/2016 – Broadcom had its “top pick” rating reaffirmed by analysts at RBC Capital Markets. They now have a $190.00 price target on the stock.
  • 9/6/2016 – Broadcom had its price target raised by analysts at Argus from $184.00 to $195.00. They now have a “buy” rating on the stock.
  • 9/6/2016 – Broadcom had its “buy” rating reaffirmed by analysts at Bank of America Corp.. They now have a $215.00 price target on the stock, up previously from $210.00.
  • 9/5/2016 – Broadcom had its price target raised by analysts at Barclays PLC from $185.00 to $205.00. They now have an “overweight” rating on the stock.
  • 9/5/2016 – Broadcom had its price target raised by analysts at Cowen and Company from $200.00 to $205.00. They now have an “outperform” rating on the stock.
  • 9/5/2016 – Broadcom was upgraded by analysts at Vetr from a “hold” rating to a “strong-buy” rating. They now have a $197.16 price target on the stock.
  • 9/4/2016 – Broadcom had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $215.00 price target on the stock.
  • 9/4/2016 – Broadcom had its price target raised by analysts at Mizuho from $190.00 to $200.00. They now have a “buy” rating on the stock.
  • 9/2/2016 – Broadcom had its price target raised by analysts at Deutsche Bank AG from $200.00 to $205.00. They now have a “buy” rating on the stock.
  • 9/2/2016 – Broadcom had its “buy” rating reaffirmed by analysts at Cowen and Company.
  • 9/2/2016 – Broadcom had its price target raised by analysts at Jefferies Group from $190.00 to $209.00. They now have a “buy” rating on the stock.
  • 9/2/2016 – Broadcom was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $198.00 price target on the stock. According to Zacks, “Broadcom reported solid third-quarter fiscal 2016 results with healthy sequential improvements in revenues and earnings on the back of robust organic growth, while adjusted earnings of $2.47 per share comfortably exceeded the Zacks Consensus Estimate of $2.29. Synergistic benefits from the merger with Avago are likely to increase future profitability through economies of scale and mutual sharing of manufacturing expertise and R&D costs. In addition, Broadcom maintains an efficient global supply chain with a variable, low-cost operating model that enables it to maintain sustainable revenue growth and expand margins. Broadcom is expected to benefit from rapid increases in data center IP and mobile data traffic to emerge as the undisputed leader in the enterprise storage market. However, Broadcom’s rapidly evolving technical standards and high R&D costs associated with new products put pressure on its profitability to some extent.”
  • 9/2/2016 – Broadcom had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $205.00 price target on the stock.
  • 9/2/2016 – Broadcom had its price target raised by analysts at Pacific Crest from $180.00 to $200.00. They now have an “overweight” rating on the stock.
  • 9/2/2016 – Broadcom had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $200.00 price target on the stock. They wrote, “We still see a number levers to drive outsized EPS growth (22 percent CAGR), including product cycles in wireless and networking, ongoing merger synergies, and interest expense reduction,” analyst Craig Hettenbach wrote in a note.Related Link: Forget The Fed Meeting, September Means It’s Time For A New iPhoneHettenbach noted the company’s modest revenue beat and cost discipline in an environment where most semiconductor firms have reported inline revenues. Specifically, the company guided to opex of $808 million in the October quarter, or 5 percent below the firm’s estimate of $852 million.Broadcom guided to revenue of $4.1 billion at the mid-point, 1 percent above the Street at $4.06 billion and closer to Morgan Stanley’s estimate of $4.12 billion.Gross margin was guided up 10bp to 60.5 percent, 30bp above the Street at 60.2 percent and 20bp below Morgan Stanley’s estimate of 60.7 percent. Implied EPS for the October quarter is $3.34, 5 percent or $0.15 above the Street at $3.19 and $0.14 above Morgan Stanley’s estimate of $3.20.The analyst raised his non-GAAP CY16/17 EPS estimates by $0.22/$0.46 to $12.02/$13.92, driven by benefit from higher sales as well as lower opex and interest expense.”We like AVGO for its above-average growth, leadership position in key markets and margin expansion-Overweight,”
  • 9/2/2016 – Broadcom had its price target raised by analysts at Drexel Hamilton from $192.00 to $201.00. They now have a “buy” rating on the stock.
  • 9/2/2016 – Broadcom had its price target raised by analysts at Canaccord Genuity from $200.00 to $215.00. They now have a “buy” rating on the stock.
  • 9/2/2016 – Broadcom had its price target raised by analysts at Brean Capital to $205.00. They now have a “buy” rating on the stock.
  • 9/1/2016 – Broadcom had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $190.00 price target on the stock, up previously from $180.00.
  • 8/30/2016 – Broadcom had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $200.00 price target on the stock.
  • 8/30/2016 – Broadcom had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $185.00 price target on the stock, down previously from $200.00.
  • 8/30/2016 – Broadcom is now covered by analysts at Citigroup Inc.. They set a “buy” rating and a $205.00 price target on the stock.
  • 8/30/2016 – Broadcom had its price target raised by analysts at Credit Suisse Group AG from $180.00 to $200.00. They now have an “outperform” rating on the stock.
  • 8/30/2016 – Broadcom had its “buy” rating reaffirmed by analysts at Brean Capital. They now have a $200.00 price target on the stock, up previously from $190.00. They wrote, “[M]ore importantly, AVGO demonstrated how this strategy is paying off in leverage in the financial model of the combined company as EPS is “out growing” revenue on a sequential basis by2x at least for the Jul-16Q and Oct-16Q,” analyst Mike Burton wrote in a note.Related Link: A Solid Beat And Raise Quarter For Broadcom Led By Wireless SegmentThe company reported third quarter revenues $3.802 billion versus Street consensus of $3.756 billion, and was higher than the company’s original guidance of $3.75 billion. EPS of $2.89 came in 4 percent above the Street consensus of $2.77.Looking ahead, Broadcom guided to October quarter revenue of $4.1 billion at the mid-point, 1 percent above the Street at $4.06 billion. Gross margin was guided up 10bp to 60.5 percent, 30bp above the Street at 60.2 percent. Implied EPS for the October quarter is $3.34 at the mid-point, 5 percent or $0.15 above the Street at $3.19. On the cost side, Broadcom sees flat opex trends.The company expects its wireless communications segment to grow sequentially more than 30 percent as the company expects a full quarter of its ramp at Apple. The company is expecting seasonality to spur growth in its Enterprise Storage business and sees growth of “low single digits”
  • 8/30/2016 – Broadcom had its “buy” rating reaffirmed by analysts at DA Davidson. They now have a $190.00 price target on the stock.
  • 8/30/2016 – Broadcom had its price target raised by analysts at Cowen and Company from $200.00 to $205.00. They now have an “outperform” rating on the stock.
  • 8/30/2016 – Broadcom was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $180.18 price target on the stock.
  • 8/29/2016 – Broadcom had its price target raised by analysts at Royal Bank Of Canada from $185.00 to $190.00. They now have a “top pick” rating on the stock.
  • 8/29/2016 – Broadcom had its “buy” rating reaffirmed by analysts at BMO Capital Markets.
  • 8/29/2016 – Broadcom had its “top pick” rating reaffirmed by analysts at RBC Capital Markets. They now have a $190.00 price target on the stock, up previously from $185.00.
  • 8/29/2016 – Broadcom had its price target raised by analysts at Mizuho from $190.00 to $200.00. They now have a “buy” rating on the stock.
  • 8/29/2016 – Broadcom was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $171.91 price target on the stock.
  • 8/26/2016 – Broadcom had its “overweight” rating reaffirmed by analysts at Pacific Crest. They now have a $180.00 price target on the stock.
  • 8/25/2016 – Broadcom had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $200.00 price target on the stock.
  • 8/23/2016 – Broadcom was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $171.91 price target on the stock.
  • 8/16/2016 – Broadcom had its “buy” rating reaffirmed by analysts at Pacific Crest.
  • 8/15/2016 – Broadcom was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $171.91 price target on the stock.
  • 8/12/2016 – Broadcom was downgraded by analysts at Vetr from a “hold” rating to a “sell” rating. They now have a $155.36 price target on the stock.
  • 8/12/2016 – Broadcom is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $205.00 price target on the stock.
  • 8/8/2016 – Broadcom had its “buy” rating reaffirmed by analysts at Nomura. They now have a $200.00 price target on the stock.
  • 8/3/2016 – Broadcom was given a new $185.00 price target on by analysts at RBC Capital Markets. They now have a “buy” rating on the stock.
  • 8/3/2016 – Broadcom was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $170.30 price target on the stock.
  • 7/27/2016 – Broadcom was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $170.30 price target on the stock.

Shares of Broadcom Ltd (NASDAQ:AVGO) traded up 0.35% on Wednesday, hitting $168.82. 365,958 shares of the stock traded hands. Broadcom Ltd has a one year low of $111.53 and a one year high of $179.42. The company’s market cap is $67.08 billion. The stock has a 50 day moving average of $171.54 and a 200 day moving average of $157.92.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 1st. The semiconductor manufacturer reported $2.89 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.12. Broadcom had a negative net margin of 6.20% and a positive return on equity of 25.06%. The firm earned $3.80 billion during the quarter. During the same period in the previous year, the company posted $2.24 EPS. Broadcom’s revenue for the quarter was up 117.3% on a year-over-year basis. Equities analysts anticipate that Broadcom Ltd will post $11.24 earnings per share for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 19th will be given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend is Thursday, September 15th. This is a boost from Broadcom’s previous quarterly dividend of $0.50. Broadcom’s dividend payout ratio is presently -208.16%.

In related news, SVP Bryan Ingram sold 31,488 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $169.27, for a total transaction of $5,329,973.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Patricia H. Mccall sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $164.50, for a total transaction of $411,250.00. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by insiders.

Broadcom Limited is a semiconductor company. The Company offers a range of products in end-markets, including wired infrastructure, wireless communications, enterprise storage, and industrial and others. The Company’s products are used in various applications, including data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, data center servers and storage, factory automation, power generation and alternative energy systems, and displays.

5 Day Chart for NASDAQ:AVGO

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