Broadcom Limited (AVGO) Given Average Rating of “Buy” by Analysts
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.
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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.
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