Shares of Broadcom Limited (NASDAQ:AVGO) have been assigned a consensus rating of “Buy” from the thirty-seven research firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $276.65.

AVGO has been the topic of a number of recent analyst reports. UBS AG reaffirmed a “buy” rating and issued a $265.00 target price on shares of Broadcom Limited in a research report on Monday, June 26th. B. Riley reiterated a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a research note on Saturday, August 26th. Vetr raised shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 price target for the company in a research report on Monday, August 14th. BidaskClub downgraded shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $270.00 price target on shares of Broadcom Limited in a research note on Friday, August 11th.

In other Broadcom Limited news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $246.48, for a total transaction of $4,929,600.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. Insiders have sold 61,788 shares of company stock worth $15,098,237 over the last ninety days. 3.60% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently made changes to their positions in AVGO. Peapack Gladstone Financial Corp increased its position in shares of Broadcom Limited by 0.4% in the first quarter. Peapack Gladstone Financial Corp now owns 2,148 shares of the semiconductor manufacturer’s stock worth $470,000 after acquiring an additional 9 shares in the last quarter. Spectrum Management Group Inc. raised its holdings in shares of Broadcom Limited by 0.4% during the second quarter. Spectrum Management Group Inc. now owns 2,365 shares of the semiconductor manufacturer’s stock valued at $551,000 after acquiring an additional 10 shares during the period. Private Trust Co. NA lifted its position in shares of Broadcom Limited by 0.7% in the 2nd quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock valued at $460,000 after acquiring an additional 13 shares in the last quarter. IHT Wealth Management LLC lifted its position in shares of Broadcom Limited by 1.4% in the 1st quarter. IHT Wealth Management LLC now owns 1,094 shares of the semiconductor manufacturer’s stock valued at $238,000 after acquiring an additional 15 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in shares of Broadcom Limited by 0.9% in the 2nd quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock valued at $447,000 after acquiring an additional 17 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

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Shares of Broadcom Limited (AVGO) traded up 1.04% during mid-day trading on Wednesday, hitting $242.00. 2,319,272 shares of the stock traded hands. The stock has a 50-day moving average of $246.58 and a 200 day moving average of $238.13. Broadcom Limited has a one year low of $160.62 and a one year high of $259.36. The stock has a market cap of $98.73 billion, a PE ratio of 184.31 and a beta of 1.08.

Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the prior year, the business posted $2.89 earnings per share. Broadcom Limited’s revenue for the quarter was up 17.5% on a year-over-year basis. Equities analysts predict that Broadcom Limited will post $15.91 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date was Monday, September 18th. Broadcom Limited’s payout ratio is 348.72%.

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)

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