Broadcom Limited (AVGO) Given a $285.00 Price Target by Sanford C. Bernstein Analysts
Broadcom Limited (NASDAQ:AVGO) has been assigned a $285.00 price target by equities researchers at Sanford C. Bernstein in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 9.10% from the company’s current price.
AVGO has been the topic of several other research reports. Deutsche Bank AG lifted their price target on shares of Broadcom Limited from $275.00 to $295.00 and gave the company a “buy” rating in a report on Friday, August 25th. Zacks Investment Research downgraded shares of Broadcom Limited from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Vetr downgraded shares of Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price target on the stock. in a report on Monday, September 4th. Barclays PLC lifted their price target on shares of Broadcom Limited from $290.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, October 18th. Finally, Mizuho reaffirmed a “buy” rating and set a $290.00 price target on shares of Broadcom Limited in a report on Sunday, October 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $277.51.
Broadcom Limited (NASDAQ:AVGO) traded up 3.29% during mid-day trading on Monday, reaching $261.23. 5,017,625 shares of the company were exchanged. The stock has a market capitalization of $106.58 billion, a price-to-earnings ratio of 198.96 and a beta of 1.08. Broadcom Limited has a one year low of $160.62 and a one year high of $262.20. The stock has a 50 day moving average of $244.74 and a 200-day moving average of $241.35.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly 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. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $4.46 billion. During the same quarter in the previous year, the firm earned $2.89 earnings per share. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, equities 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 company’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction dated Thursday, September 14th. The stock was 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. Over the last ninety days, insiders sold 81,788 shares of company stock valued at $20,054,837. 3.60% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in AVGO. BlackRock Inc. lifted its stake in Broadcom Limited by 2,707.3% in the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after acquiring an additional 22,307,935 shares during the period. Vanguard Group Inc. lifted its stake in Broadcom Limited by 7.0% in the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after acquiring an additional 1,746,144 shares during the period. Harbour Capital Advisors LLC lifted its stake in Broadcom Limited by 22,924.6% in the second quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock worth $6,569,000 after acquiring an additional 1,524,256 shares during the period. Ameriprise Financial Inc. lifted its stake in Broadcom Limited by 18.2% in the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after acquiring an additional 1,338,695 shares during the period. Finally, Jennison Associates LLC lifted its stake in Broadcom Limited by 26.7% in the second quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock worth $1,245,855,000 after acquiring an additional 1,128,052 shares during the period. 89.79% of the stock is owned by institutional investors.
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.
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