Broadcom Limited (NASDAQ: AVGO) recently received a number of ratings updates from brokerages and research firms:

  • 11/14/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at Nomura.
  • 11/13/2017 – Broadcom Limited was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $291.95 price target on the stock.
  • 11/13/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at Sanford C. Bernstein.
  • 11/7/2017 – Broadcom Limited had its price target raised by analysts at SunTrust Banks, Inc. to $325.00. They now have a “positive” rating on the stock.
  • 11/6/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at Nomura. They now have a $300.00 price target on the stock, up previously from $273.63.
  • 11/6/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at Drexel Hamilton. They now have a $302.00 price target on the stock. They wrote, “We view this offer as a way for Broadcom to acquire the cash flow business of Qualcomm for a modest premium and get a relatively cheap call option on the growth business of NXP .””
  • 11/6/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $290.00 price target on the stock. They wrote, “We were able to briefly catch up with management. We believe while AVGO has ~4.5% tax rate currently, a move to the U.S. and the 50% of revenue from Asia/China, could still leave AVGO, post-move, with a tax rate in the high single digit to 10%. We believe the move might put AVGO in the good graces of the U.S Government and help AVGO close on the BRCD acquisition in the JanQ, so that net EPS impact of the tax jurisdiction move might be a wash. Reiterating Buy rating and $290PT.””
  • 11/6/2017 – Broadcom Limited had its price target raised by analysts at Jefferies Group LLC from $70.00 to $315.00. They now have a “buy” rating on the stock.
  • 11/6/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings, Inc.. They now have a $275.00 price target on the stock.
  • 11/3/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at Royal Bank Of Canada.
  • 11/3/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $315.00 price target on the stock.
  • 11/2/2017 – Broadcom Limited had its price target raised by analysts at B. Riley from $305.00 to $315.00. They now have a “buy” rating on the stock.
  • 10/30/2017 – Broadcom Limited was given a new $285.00 price target on by analysts at Sanford C. Bernstein. They now have a “buy” rating on the stock.
  • 10/25/2017 – Broadcom Limited was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Broadcom has outperformed the industry it belongs to on a year-to-date basis. The company is benefiting from strong demand of its wireless solutions, which is expected to continue in the fiscal fourth quarter. Higher dollar content at the company’s large North American smartphone customer’s (Apple) next-gen platform (iPhone) drove revenues. Robust industrial re-sales were also noticeable. Broadcom now expects fourth-quarter revenue growth to be in the double-digit range on a year-over-year basis, much similar to the second and third quarter. However, gross margin is expected to contract slightly due to unfavorable product mix (higher mix of low margin wireless business). Moreover, delay in the Brocade acquisition, which is now anticipated to completed by Nov. 30 remains an overhang on the stock.”
  • 10/18/2017 – Broadcom Limited was given a new $286.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 10/18/2017 – Broadcom Limited had its price target raised by analysts at Barclays PLC from $290.00 to $300.00. They now have an “overweight” rating on the stock.
  • 10/17/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $290.00 price target on the stock.
  • 10/12/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at SunTrust Banks, Inc.. They now have a $281.00 price target on the stock.
  • 10/11/2017 – Broadcom Limited had its “top pick” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $285.00 price target on the stock.
  • 10/10/2017 – Broadcom Limited had its “outperform” rating reaffirmed by analysts at Sanford C. Bernstein. They now have a $285.00 price target on the stock.
  • 10/8/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $290.00 price target on the stock.
  • 10/6/2017 – Broadcom Limited had its “buy” rating reaffirmed by analysts at Bank of America Corporation. They now have a $300.00 price target on the stock.
  • 9/30/2017 – Broadcom Limited had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $290.00 price target on the stock.
  • 9/26/2017 – Broadcom Limited was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $263.97 price target on the stock.
  • 9/25/2017 – Broadcom Limited had its “top pick” rating reaffirmed by analysts at Royal Bank Of Canada. They now have a $285.00 price target on the stock.

Shares of Broadcom Limited (AVGO) traded down $1.75 during mid-day trading on Wednesday, reaching $263.26. 1,971,700 shares of the company’s stock were exchanged, compared to its average volume of 2,749,212. Broadcom Limited has a twelve month low of $160.62 and a twelve month high of $281.80. The company has a quick ratio of 3.84, a current ratio of 4.48 and a debt-to-equity ratio of 0.60. The company has a market cap of $108,690.00, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05.

Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings data 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 business 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 posted $2.89 EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. research analysts predict that Broadcom Limited will post 13.91 earnings per share for the current fiscal year.

In other news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $247.83, for a total transaction of $4,956,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The disclosure for this sale can be found here. Insiders sold a total of 81,788 shares of company stock valued at $20,054,837 over the last ninety days. 3.60% of the stock is currently owned by insiders.

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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