Broadcom (AVGO) Given New $325.00 Price Target at Susquehanna Bancshares
Broadcom (NASDAQ:AVGO) had its target price lifted by investment analysts at Susquehanna Bancshares from $300.00 to $325.00 in a research note issued to investors on Wednesday. The firm currently has a “positive” rating on the semiconductor manufacturer’s stock. Susquehanna Bancshares’ price target suggests a potential upside of 24.21% from the company’s current price.
A number of other brokerages have also recently commented on AVGO. Vetr cut Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price target for the company. in a research report on Monday, November 27th. Zacks Investment Research upgraded Broadcom from a “sell” rating to a “hold” rating and set a $316.00 price target for the company in a research report on Monday, November 27th. Mizuho restated a “buy” rating and issued a $290.00 price target on shares of Broadcom in a research report on Monday, November 6th. Drexel Hamilton restated a “buy” rating and issued a $302.00 price target on shares of Broadcom in a research report on Monday, November 6th. Finally, B. Riley reiterated a “buy” rating and set a $315.00 target price on shares of Broadcom in a research report on Monday, November 20th. Five equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $293.51.
Broadcom (NASDAQ AVGO) traded down $1.96 during trading on Wednesday, reaching $261.65. The company had a trading volume of 3,811,700 shares, compared to its average volume of 2,768,422. The stock has a market capitalization of $105,880.00, a PE ratio of 19.92, a PEG 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 has a 12 month low of $163.45 and a 12 month high of $285.68.
In related news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Bryan Ingram sold 30,000 shares of the firm’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 value of $7,320,300.00. The disclosure for this sale can be found here. Insiders sold a total of 104,383 shares of company stock valued at $25,949,184 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Mountain Capital Investment Advisors Inc purchased a new position in Broadcom during the 2nd quarter worth $113,000. AllSquare Wealth Management LLC purchased a new position in Broadcom during the 3rd quarter worth $113,000. Shine Investment Advisory Services Inc. purchased a new position in Broadcom during the 2nd quarter worth $116,000. Tower Research Capital LLC TRC increased its holdings in Broadcom by 473.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after purchasing an additional 473 shares during the period. Finally, Catamount Wealth Management purchased a new position in Broadcom during the 2nd quarter worth $140,000. 88.99% of the stock is owned by hedge funds and other 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.
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