Broadcom (NASDAQ: AVGO) has recently received a number of price target changes and ratings updates:

  • 3/10/2017 – Broadcom had its “overweight” rating reaffirmed by analysts at Barclays PLC. They now have a $250.00 price target on the stock, up previously from $240.00.
  • 3/7/2017 – Broadcom had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $260.00 price target on the stock.
  • 3/7/2017 – Broadcom was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $251.00 price target on the stock. According to Zacks, “Broadcom is expected to enjoy synergistic benefits from the merger with Avago, which will continue to drive profitability. This was evident from the recently announced first-quarter fiscal 2017 results. The company comfortably surpassed the Zacks Consensus Estimates in both lines. Management reiterated its long-term view based on the synergies from Avago and Brocade acquisitions. We note that the company’s divestiture of some of the Brocade’s assets to ARRIS International will accelerate the acquisition process as well as lower leverage. However, the stock has underperformed the broader market in the past one-year. Weakness in wireless and enterprise storage businesses is also a major concern. Nevertheless, we believe that the strong first-quarter results and positive long-term guidance will help the stock to rebound going ahead.”
  • 3/3/2017 – Broadcom had its price target raised by analysts at Argus from $217.29 to $250.00. They now have a “buy” rating on the stock.
  • 3/3/2017 – Broadcom had its “market perform” rating reaffirmed by analysts at Wells Fargo & Co. They now have a $222.50 price target on the stock, up previously from $165.00.
  • 3/2/2017 – Broadcom had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $260.00 price target on the stock.
  • 3/2/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $250.00 price target on the stock. They wrote, “We are modeling April quarter sales and non-GAAP EPS at $3.9 billion (down 4.1% q/q) and $3.20 respectively.””
  • 3/2/2017 – Broadcom had its price target raised by analysts at Cowen and Company to $240.00.
  • 3/2/2017 – Broadcom had its price target raised by analysts at Drexel Hamilton from $210.00 to $260.00. They now have a “buy” rating on the stock.
  • 3/2/2017 – Broadcom had its price target raised by analysts at Craig Hallum from $210.00 to $260.00. They now have a “buy” rating on the stock.
  • 3/2/2017 – Broadcom had its price target raised by analysts at Mizuho from $210.00 to $250.00. They now have a “buy” rating on the stock.
  • 3/2/2017 – Broadcom had its price target raised by analysts at Jefferies Group LLC from $210.00 to $260.00. They now have a “buy” rating on the stock.
  • 3/2/2017 – Broadcom had its price target raised by analysts at Deutsche Bank AG from $235.00 to $255.00. They now have a “buy” rating on the stock.
  • 3/2/2017 – Broadcom had its price target raised by analysts at Robert W. Baird from $205.00 to $260.00. They now have an “outperform” rating on the stock.
  • 3/2/2017 – Broadcom had its “top pick” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $240.00 price target on the stock, up previously from $230.00.
  • 3/2/2017 – Broadcom had its price target raised by analysts at Royal Bank of Canada from $230.00 to $240.00. They now have a “top pick” rating on the stock.
  • 3/2/2017 – Broadcom had its price target raised by analysts at Morgan Stanley from $240.00 to $245.00. They now have an “overweight” rating on the stock.
  • 3/2/2017 – Broadcom had its price target raised by analysts at Wells Fargo & Co to $230.00.
  • 3/2/2017 – Broadcom had its price target raised by analysts at Goldman Sachs Group Inc from $222.00 to $248.00. They now have a “buy” rating on the stock.
  • 3/1/2017 – Broadcom was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 3/1/2017 – Broadcom had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $240.00 price target on the stock, up previously from $215.00.
  • 2/28/2017 – Broadcom had its price target raised by analysts at Barclays PLC from $215.00 to $230.00. They now have an “overweight” rating on the stock.
  • 2/27/2017 – Broadcom had its price target raised by analysts at Instinet from $190.00 to $220.00. They now have a “buy” rating on the stock.
  • 2/27/2017 – Broadcom had its “outperform” rating reaffirmed by analysts at Cowen and Company. They now have a $240.00 price target on the stock, up previously from $210.00.
  • 2/27/2017 – Broadcom was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Broadcom is expected to enjoy synergistic benefits from the merger with Avago, which will continue to drive profitability. Further, it is anticipated to gain from rapid increases in data center IP and mobile data traffic in the long haul. The company's long-term operating margin target is also positive in our view. However, the stock has underperformed the broader market in the past one-year. Additionally, estimates have been going down ahead of the company’s first-quarter earnings release. Moreover, weakness in the wired infrastructure segment due to intensifying competition and regulatory hurdles related to the Brocade acquisition are some of the near-term headwinds. We note that the company’s divestiture of some of the Brocade’s assets to ARRIS International will accelerate the acquisition process as well as lower leverage in our view.”
  • 2/22/2017 – Broadcom is now covered by analysts at Rosenblatt Securities. They set a “buy” rating and a $250.00 price target on the stock.
  • 2/22/2017 – Broadcom had its “buy” rating reaffirmed by analysts at MKM Partners. They now have a $240.00 price target on the stock.
  • 2/22/2017 – Broadcom had its “outperform” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $250.00 price target on the stock.
  • 2/21/2017 – Broadcom had its “top pick” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $230.00 price target on the stock, up previously from $225.00.
  • 2/17/2017 – Broadcom had its “overweight” rating reaffirmed by analysts at JPMorgan Chase & Co.. They now have a $230.00 price target on the stock.
  • 2/8/2017 – Broadcom was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “sell” rating. According to Zacks, “Broadcom is expected to enjoy synergistic benefits from the merger with Avago, which will drive future profitability. In addition, the company 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. The company's long term target is also positive in our view.However, the stock has underperformed the broader market in the past one-year. Notably, estimates have been going down ahead of the company’s Q1 earnings release.  Moreover, Broadcom’s rapidly evolving technical standards and high R&D costs associated with new products put pressure on its profitability.”
  • 2/8/2017 – Broadcom had its price target raised by analysts at Royal Bank of Canada from $200.00 to $225.00. They now have a “top pick” rating on the stock.
  • 2/6/2017 – Broadcom had its “positive” rating reaffirmed by analysts at Susquehanna Bancshares Inc.
  • 1/31/2017 – Broadcom was upgraded by analysts at Vetr from a “sell” rating to a “hold” rating. They now have a $195.55 price target on the stock.
  • 1/23/2017 – Broadcom was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $192.84 price target on the stock.
  • 1/21/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Loop Capital.

Broadcom Ltd (NASDAQ:AVGO) traded up 0.03% on Monday, hitting $221.24. 1,721,464 shares of the stock were exchanged. The firm’s market cap is $88.80 billion. The company has a 50-day moving average of $212.50 and a 200 day moving average of $184.08. Broadcom Ltd has a 12 month low of $139.18 and a 12 month high of $227.75.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, March 1st. The semiconductor manufacturer reported $3.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.48 by $0.15. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.08 billion. Broadcom had a negative net margin of 13.13% and a positive return on equity of 22.77%. The firm’s revenue for the quarter was up 132.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.41 earnings per share. Equities research analysts expect that Broadcom Ltd will post $14.85 earnings per share for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Monday, March 20th will be given a dividend of $1.02 per share. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $4.08 dividend on an annualized basis and a yield of 1.84%. Broadcom’s dividend payout ratio (DPR) is -100.49%.

In related news, VP Patricia H. Mccall sold 2,500 shares of the stock in a transaction that occurred on Tuesday, December 20th. The shares were sold at an average price of $183.00, for a total transaction of $457,500.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Hock E. Tan sold 65,000 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $216.79, for a total transaction of $14,091,350.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,273,449 shares of company stock worth $471,808,794. 6.20% of the stock is owned by insiders.

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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