Broadcom Limited (AVGO) Earns Buy Rating from J P Morgan Chase & Co
Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by stock analysts at J P Morgan Chase & Co in a research report issued to clients and investors on Friday. They currently have a $315.00 price objective on the semiconductor manufacturer’s stock. J P Morgan Chase & Co’s price target suggests a potential upside of 15.12% from the company’s current price.
A number of other research firms also recently issued reports on AVGO. Vetr raised shares of Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 price target for the company in a research note on Monday, August 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $285.00 target price (up previously from $270.00) on shares of Broadcom Limited in a research note on Saturday, August 26th. B. Riley reaffirmed a “buy” rating and set a $305.00 target price on shares of Broadcom Limited in a research note on Thursday, August 31st. BidaskClub downgraded shares of Broadcom Limited from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research downgraded shares of Broadcom Limited from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirty-one have issued a buy rating and three have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $277.81.
Broadcom Limited (AVGO) traded up $14.34 during mid-day trading on Friday, reaching $273.63. 12,013,306 shares of the company were exchanged, compared to its average volume of 2,682,696. Broadcom Limited has a 12 month low of $160.62 and a 12 month high of $278.00. The company has a market capitalization of $111,635.30, a P/E ratio of 20.68, a P/E/G ratio of 1.30 and a beta of 1.05. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period in the prior year, the firm earned $2.89 earnings per share. Broadcom Limited’s revenue was up 17.5% on a year-over-year basis. equities research analysts anticipate that Broadcom Limited will post 13.9 earnings per share for the current year.
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In other Broadcom Limited news, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction on 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 SEC, which can be accessed through this link. Also, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction on 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 have sold a total of 81,788 shares of company stock worth $20,054,837 over the last 90 days. Insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Quantitative Systematic Strategies LLC increased its holdings in Broadcom Limited by 348.3% in the 3rd quarter. Quantitative Systematic Strategies LLC now owns 4,335 shares of the semiconductor manufacturer’s stock valued at $1,051,000 after acquiring an additional 3,368 shares during the last quarter. Alps Advisors Inc. bought a new stake in Broadcom Limited in the 2nd quarter valued at $221,000. Osborne Partners Capital Management LLC increased its holdings in Broadcom Limited by 5.5% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 9,531 shares of the semiconductor manufacturer’s stock valued at $2,312,000 after acquiring an additional 499 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Broadcom Limited by 14.4% in the 2nd quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock valued at $155,459,000 after acquiring an additional 83,929 shares during the last quarter. Finally, DSAM Partners London Ltd increased its holdings in Broadcom Limited by 103.4% in the 2nd quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock valued at $43,048,000 after acquiring an additional 93,890 shares during the last quarter. Institutional investors own 89.79% 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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