Broadcom Limited’s (AVGO) “Top Pick” Rating Reiterated at Royal Bank Of Canada
Broadcom Limited (NASDAQ:AVGO)‘s stock had its “top pick” rating reiterated by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday. They presently have a $285.00 target price on the semiconductor manufacturer’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 15.86% from the company’s current price.
Other equities analysts also recently issued reports about the company. Deutsche Bank AG raised their price objective on Broadcom Limited from $275.00 to $295.00 and gave the company a “buy” rating in a research note on Friday, August 25th. Vetr downgraded Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price objective for the company. in a research note on Monday, September 4th. B. Riley reaffirmed an “avgo (” rating and issued a $305.00 price objective on shares of Broadcom Limited in a research note on Monday, August 21st. Drexel Hamilton reaffirmed a “buy” rating and issued a $292.00 price objective on shares of Broadcom Limited in a research note on Saturday, August 26th. Finally, Mizuho reaffirmed a “buy” rating and issued a $290.00 price objective on shares of Broadcom Limited in a research note on Sunday. One analyst has rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $276.80.
Shares of Broadcom Limited (NASDAQ AVGO) opened at 245.99 on Wednesday. The firm has a market capitalization of $100.36 billion, a price-to-earnings ratio of 187.35 and a beta of 1.08. Broadcom Limited has a one year low of $160.62 and a one year high of $259.36. The firm has a 50-day moving average price of $245.74 and a 200 day moving average price of $239.10.
Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.89 EPS. Equities analysts forecast that Broadcom Limited will post $15.91 earnings per share for the current fiscal year.
In other Broadcom Limited news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $240.62, for a total value of $2,406,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction that occurred on Monday, September 11th. The shares were 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. Over the last 90 days, insiders sold 61,788 shares of company stock valued at $15,098,237. 3.60% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of AVGO. Osborn Williams & Donohoe LLC boosted its position in shares of Broadcom Limited by 23.2% during the third quarter. Osborn Williams & Donohoe LLC now owns 3,343 shares of the semiconductor manufacturer’s stock worth $811,000 after buying an additional 630 shares during the period. Fulton Bank N.A. boosted its position in shares of Broadcom Limited by 19.4% during the third quarter. Fulton Bank N.A. now owns 7,522 shares of the semiconductor manufacturer’s stock worth $1,825,000 after buying an additional 1,223 shares during the period. Bridges Investment Management Inc. acquired a new position in shares of Broadcom Limited during the third quarter worth approximately $576,000. Ardsley Advisory Partners boosted its position in shares of Broadcom Limited by 33.3% during the second quarter. Ardsley Advisory Partners now owns 4,000 shares of the semiconductor manufacturer’s stock worth $932,000 after buying an additional 1,000 shares during the period. Finally, Intl Fcstone Inc. acquired a new position in shares of Broadcom Limited during the second quarter worth approximately $1,104,000. Institutional investors own 89.71% 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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