Broadcom Limited (NASDAQ:AVGO) had its price target boosted by research analysts at B. Riley from $305.00 to $315.00 in a report released on Thursday. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. B. Riley’s price objective suggests a potential upside of 19.36% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Sanford C. Bernstein set a $285.00 target price on Broadcom Limited and gave the stock a “buy” rating in a research note on Monday. Zacks Investment Research lowered Broadcom Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. Jefferies Group LLC set a $286.00 price target on Broadcom Limited and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Barclays PLC lifted their price target on Broadcom Limited from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. Finally, KeyCorp reaffirmed a “buy” rating and set a $290.00 price target on shares of Broadcom Limited in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $277.81.

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, topping the consensus estimate of $4.03 by $0.07. The firm had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.89 earnings per share.

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In other news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 81,788 shares of company stock valued at $20,054,837. Corporate insiders own 3.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Peapack Gladstone Financial Corp boosted its stake in shares of Broadcom Limited by 0.4% during the 1st 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. boosted its stake in shares of Broadcom Limited by 0.4% during the 2nd quarter. Spectrum Management Group Inc. now owns 2,365 shares of the semiconductor manufacturer’s stock worth $551,000 after acquiring an additional 10 shares in the last quarter. Private Trust Co. NA boosted its stake in shares of Broadcom Limited by 0.7% during the 2nd quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock worth $460,000 after acquiring an additional 13 shares in the last quarter. IHT Wealth Management LLC boosted its stake in shares of Broadcom Limited by 1.4% during the 1st quarter. IHT Wealth Management LLC now owns 1,094 shares of the semiconductor manufacturer’s stock worth $238,000 after acquiring an additional 15 shares in the last quarter. Finally, Hollencrest Securities LLC boosted its stake in shares of Broadcom Limited by 1.2% during the 2nd quarter. Hollencrest Securities LLC now owns 1,324 shares of the semiconductor manufacturer’s stock worth $206,000 after acquiring an additional 16 shares in the last quarter. 89.79% of the stock is owned by institutional investors and hedge funds.

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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