Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating reissued by research analysts at Craig Hallum in a report issued on Wednesday.

Several other equities analysts have also weighed in on the stock. KeyCorp reaffirmed an “overweight” rating on shares of Broadcom Limited in a report on Thursday. J P Morgan Chase & Co reaffirmed a “buy” rating and set a $315.00 target price on shares of Broadcom Limited in a report on Tuesday. Vetr lowered shares of Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 target price for the company. in a report on Monday, September 4th. B. Riley reaffirmed a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a report on Thursday, August 31st. Finally, Zacks Investment Research raised shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $272.00 target price for the company in a report on Tuesday, August 29th. Two analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $274.48.

Broadcom Limited (NASDAQ:AVGO) traded up 0.35% during trading on Wednesday, hitting $247.09. 1,686,987 shares of the company’s stock were exchanged. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36. The firm has a market cap of $100.81 billion, a price-to-earnings ratio of 188.19 and a beta of 1.07. The company’s 50-day moving average price is $249.57 and its 200 day moving average price is $235.64.

Broadcom Limited (NASDAQ:AVGO) last posted its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.07. The firm had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.89 EPS. Equities analysts forecast that Broadcom Limited will post $15.92 earnings per share for the current fiscal year.

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In other news, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was 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. 3.60% of the stock is currently owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in AVGO. BlackRock Inc. raised its stake in shares of Broadcom Limited by 2,707.3% during the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after purchasing an additional 22,307,935 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Broadcom Limited by 7.0% during the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after purchasing an additional 1,746,144 shares during the last quarter. Harbour Capital Advisors LLC raised its stake in shares of Broadcom Limited by 22,924.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock worth $6,569,000 after purchasing an additional 1,524,256 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Broadcom Limited by 29.3% during the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after purchasing an additional 1,519,598 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Broadcom Limited by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after purchasing an additional 1,338,695 shares during the last quarter. Institutional investors and hedge funds own 90.04% of the company’s stock.

Broadcom Limited Company Profile

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)

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