Shares of Broadcom Limited (NASDAQ:AVGO) have received an average recommendation of “Buy” from the forty ratings firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, thirty-six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $265.02.

AVGO has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Broadcom Limited from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Instinet reissued a “buy” rating and set a $260.00 target price (up from $230.00) on shares of Broadcom Limited in a report on Wednesday, May 17th. Royal Bank Of Canada reissued a “top pick” rating and set a $250.00 target price on shares of Broadcom Limited in a report on Tuesday, May 23rd. Morgan Stanley reissued an “overweight” rating and set a $265.00 target price (up from $245.00) on shares of Broadcom Limited in a report on Thursday, May 25th. Finally, Mizuho restated a “buy” rating and issued a $265.00 price target (up previously from $250.00) on shares of Broadcom Limited in a research report on Sunday, May 28th.

Broadcom Limited (NASDAQ AVGO) traded up 1.11% on Tuesday, hitting $253.69. 2,093,987 shares of the stock traded hands. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $258.49. The stock’s market cap is $103.15 billion. The firm’s 50 day moving average is $246.06 and its 200 day moving average is $229.49. Broadcom Limited also saw unusually large options trading activity on Monday. Traders purchased 10,775 call options on the company. This represents an increase of approximately 177% compared to the average daily volume of 3,886 call options.

Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.50 by $0.19. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. The business had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.11 billion. During the same quarter in the previous year, the company earned $2.53 EPS. The business’s revenue was up 17.9% on a year-over-year basis. Equities analysts anticipate that Broadcom Limited will post $15.78 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This story was first published by American Banking News and is the property of of American Banking News. If you are accessing this story on another publication, it was stolen and reposted in violation of international copyright & trademark laws. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/08/15/broadcom-limited-avgo-given-average-rating-of-buy-by-analysts.html.

In other Broadcom Limited news, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $254.15, for a total value of $331,919.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total value of $2,445,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 41,306 shares of company stock worth $10,380,120. 3.60% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of AVGO. FNY Managed Accounts LLC purchased a new stake in shares of Broadcom Limited during the first quarter worth $100,000. AllSquare Wealth Management LLC boosted its position in Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock valued at $106,000 after buying an additional 133 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in Broadcom Limited during the first quarter valued at approximately $111,000. Shine Investment Advisory Services Inc. bought a new position in Broadcom Limited during the second quarter valued at approximately $116,000. Finally, Archford Capital Strategies LLC boosted its position in Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after buying an additional 168 shares during the last quarter. Institutional investors own 90.94% of the company’s stock.

About Broadcom Limited

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.

Analyst Recommendations for Broadcom Limited (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related companies with MarketBeat.com's FREE daily email newsletter.