Analysts at Credit Suisse Group assumed coverage on shares of Broadcom (NASDAQ:AVGO) in a research report issued to clients and investors on Wednesday. The brokerage set an “outperform” rating and a $335.00 price target on the semiconductor manufacturer’s stock. Credit Suisse Group’s target price indicates a potential upside of 26.95% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Barclays increased their price target on Broadcom from $290.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 18th. B. Riley increased their price target on Broadcom from $305.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Vetr cut Broadcom from a “buy” rating to a “hold” rating and set a $261.95 price target for the company. in a research note on Monday, September 4th. Zacks Investment Research raised Broadcom from a “hold” rating to a “buy” rating and set a $272.00 price target for the company in a research note on Tuesday, August 29th. Finally, KeyCorp reissued a “buy” rating and issued a $290.00 price target on shares of Broadcom in a research note on Tuesday, October 17th. Five analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $293.51.

Broadcom (AVGO) traded up $2.24 during trading hours on Wednesday, hitting $263.89. The stock had a trading volume of 4,845,368 shares, compared to its average volume of 2,777,186. Broadcom has a 12 month low of $163.67 and a 12 month high of $285.68. The company has a market capitalization of $105,880.00, a PE ratio of 19.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.05. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.49 by $0.10. Broadcom had a return on equity of 26.82% and a net margin of 3.12%. The company had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same quarter in the prior year, the business posted $3.47 earnings per share. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. equities analysts expect that Broadcom will post 13.93 EPS for the current fiscal year.

In other Broadcom news, CFO Thomas H. Krause sold 2,595 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $267.34, for a total value of $693,747.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $240.62, for a total value of $2,406,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 104,383 shares of company stock worth $25,949,184. Insiders own 3.60% of the company’s stock.

A number of hedge funds have recently modified their holdings of AVGO. Ingalls & Snyder LLC increased its holdings in shares of Broadcom by 8.6% during the 2nd quarter. Ingalls & Snyder LLC now owns 1,331 shares of the semiconductor manufacturer’s stock valued at $310,000 after acquiring an additional 105 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Broadcom by 13.4% during the 2nd quarter. IFP Advisors Inc now owns 2,169 shares of the semiconductor manufacturer’s stock valued at $506,000 after acquiring an additional 257 shares during the last quarter. Davis R M Inc. increased its holdings in shares of Broadcom by 4.7% during the 2nd quarter. Davis R M Inc. now owns 1,814 shares of the semiconductor manufacturer’s stock valued at $423,000 after acquiring an additional 81 shares during the last quarter. Advisor Partners LLC increased its holdings in shares of Broadcom by 10.0% during the 2nd quarter. Advisor Partners LLC now owns 5,885 shares of the semiconductor manufacturer’s stock valued at $1,372,000 after acquiring an additional 537 shares during the last quarter. Finally, Pioneer Investment Management Inc. increased its holdings in shares of Broadcom by 2.2% during the 2nd quarter. Pioneer Investment Management Inc. now owns 1,236,209 shares of the semiconductor manufacturer’s stock valued at $288,099,000 after acquiring an additional 26,246 shares during the last quarter. 88.99% of the stock is currently owned by institutional investors.

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Broadcom 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 (NASDAQ:AVGO)

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