Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating restated by investment analysts at Raymond James Financial in a research note issued on Monday. They presently have a $335.00 price target on the semiconductor manufacturer’s stock. Raymond James Financial’s target price would suggest a potential upside of 27.19% from the stock’s previous close.

A number of other equities analysts also recently commented on AVGO. B. Riley reissued a “buy” rating and issued a $305.00 target price on shares of Broadcom in a research note on Saturday, August 26th. Vetr raised shares of Broadcom from a “hold” rating to a “buy” rating and set a $258.25 price target for the company in a report on Monday, August 14th. BidaskClub lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Canaccord Genuity raised their price target on shares of Broadcom from $300.00 to $313.00 and gave the company a “buy” rating in a report on Wednesday, November 29th. Finally, Cowen reaffirmed a “buy” rating and set a $260.00 price target on shares of Broadcom in a report on Friday, August 11th. Five research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Broadcom presently has a consensus rating of “Buy” and an average target price of $291.42.

Shares of Broadcom (NASDAQ:AVGO) traded down $0.23 during mid-day trading on Monday, hitting $263.38. 2,422,064 shares of the stock were exchanged, compared to its average volume of 2,763,943. Broadcom has a fifty-two week low of $162.40 and a fifty-two week high of $285.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48. The stock has a market cap of $110,790.88, a P/E ratio of 20.53, a PEG ratio of 1.30 and a beta of 1.05.

In other Broadcom news, CFO Thomas H. Krause sold 2,595 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $267.34, for a total transaction of $693,747.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $246.48, for a total transaction of $4,929,600.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,383 shares of company stock valued at $25,949,184. 3.60% of the stock is owned by company insiders.

Several institutional investors have recently bought and sold shares of AVGO. Janus Henderson Group PLC lifted its position in shares of Broadcom by 80.3% in the 3rd quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock worth $823,980,000 after buying an additional 1,512,956 shares during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Broadcom by 18.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after buying an additional 1,338,695 shares during the last quarter. Jennison Associates LLC lifted its position in shares of Broadcom by 26.7% in the 2nd quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock worth $1,245,855,000 after buying an additional 1,128,052 shares during the last quarter. BlackRock Inc. lifted its position in shares of Broadcom by 3.5% in the 2nd quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after buying an additional 798,982 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Broadcom by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after buying an additional 793,335 shares during the last quarter. Institutional investors own 88.99% of the company’s stock.

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About Broadcom

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 (NASDAQ:AVGO)

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