Broadcom Limited’s (AVGO) “Buy” Rating Reaffirmed at Royal Bank Of Canada
Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by investment analysts at Royal Bank Of Canada in a note issued to investors on Friday.
AVGO has been the subject of several other research reports. Barclays PLC lifted their price objective on Broadcom Limited from $290.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. Vetr lowered Broadcom Limited from a “buy” rating to a “hold” rating and set a $261.95 price objective for the company. in a report on Monday, September 4th. Zacks Investment Research raised Broadcom Limited from a “hold” rating to a “buy” rating and set a $272.00 price objective for the company in a report on Tuesday, August 29th. KeyCorp reissued a “buy” rating and issued a $290.00 price objective on shares of Broadcom Limited in a report on Tuesday, October 17th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $300.00 price objective on shares of Broadcom Limited in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-one have given a buy rating and three have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $277.81.
Shares of Broadcom Limited (NASDAQ:AVGO) traded up $14.34 during trading on Friday, hitting $273.63. The stock had a trading volume of 12,013,306 shares, compared to its average volume of 2,650,000. Broadcom Limited has a 1 year low of $160.62 and a 1 year high of $278.00. The stock has a market cap of $111.64 billion, a price-to-earnings ratio of 19.61, a PEG ratio of 1.23 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 announced its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the firm posted $2.89 EPS. The business’s revenue was up 17.5% compared to the same quarter last year. equities analysts forecast that Broadcom Limited will post 13.9 EPS for the current fiscal year.
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In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $246.48, for a total value of $4,929,600.00. The disclosure for this sale can be found here. Insiders have sold a total of 81,788 shares of company stock valued at $20,054,837 in the last quarter. Company insiders own 3.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Broadcom Limited by 3.0% in the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock valued at $6,423,271,000 after acquiring an additional 793,335 shares during the last quarter. BlackRock Inc. lifted its stake in Broadcom Limited by 3.5% during the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after purchasing an additional 798,982 shares in the last quarter. State Street Corp lifted its stake in Broadcom Limited by 1.6% during the second quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock worth $3,742,946,000 after purchasing an additional 255,044 shares in the last quarter. BlackRock Institutional Trust Company N.A. lifted its stake in Broadcom Limited by 43.8% during the first quarter. BlackRock Institutional Trust Company N.A. now owns 9,420,072 shares of the semiconductor manufacturer’s stock worth $1,455,401,000 after purchasing an additional 2,870,235 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Broadcom Limited by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after purchasing an additional 1,338,695 shares in the last quarter. Hedge funds and other 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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