Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by stock analysts at SunTrust Banks, Inc. in a research report issued on Thursday. They currently have a $281.00 price objective on the semiconductor manufacturer’s stock. SunTrust Banks, Inc.’s target price suggests a potential upside of 12.97% from the stock’s current price.

Several other research analysts have also recently weighed in on AVGO. Raymond James Financial, Inc. restated a “strong-buy” rating and issued a $300.00 price objective on shares of Broadcom Limited in a research report on Friday, June 16th. Pacific Crest restated an “overweight” rating and issued a $280.00 price objective on shares of Broadcom Limited in a research report on Wednesday, June 21st. UBS AG restated a “buy” rating and issued a $265.00 price objective on shares of Broadcom Limited in a research report on Monday, June 26th. Royal Bank Of Canada restated a “top pick” rating and issued a $270.00 price objective on shares of Broadcom Limited in a research report on Friday, June 30th. Finally, Mizuho restated a “buy” rating and issued a $275.00 price objective on shares of Broadcom Limited in a research report on Monday, July 3rd. One analyst has rated the stock with a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $276.93.

Shares of Broadcom Limited (NASDAQ AVGO) traded down 0.66% during trading on Thursday, hitting $248.74. The stock had a trading volume of 2,006,991 shares. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36. The stock’s 50 day moving average is $245.61 and its 200 day moving average is $239.18. The stock has a market capitalization of $101.48 billion, a price-to-earnings ratio of 189.44 and a beta of 1.08.

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

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In related news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here. Insiders sold a total of 61,788 shares of company stock valued at $15,098,237 over the last quarter. 3.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Spectrum Management Group Inc. raised its holdings in Broadcom Limited by 0.4% in the 2nd 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. Peapack Gladstone Financial Corp raised its holdings in Broadcom Limited by 0.5% in the 2nd quarter. Peapack Gladstone Financial Corp now owns 2,158 shares of the semiconductor manufacturer’s stock valued at $503,000 after acquiring an additional 10 shares during the period. Private Trust Co. NA raised its holdings in 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 during the period. IHT Wealth Management LLC raised its holdings in 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 during the period. Finally, CWA Asset Management Group LLC raised its holdings in 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 during the period. 89.71% of the stock is currently owned by hedge funds and other institutional investors.

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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