Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating restated by equities research analysts at Loop Capital in a research report issued on Thursday. They currently have a $330.00 price target on the semiconductor manufacturer’s stock. Loop Capital’s target price suggests a potential upside of 25.05% from the stock’s previous close.

Several other analysts have also commented on AVGO. Royal Bank Of Canada restated a “buy” rating and set a $270.00 price target on shares of Broadcom in a research report on Friday, August 11th. BidaskClub lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Vetr upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $258.25 price target on the stock in a research report on Monday, August 14th. Cowen restated a “buy” rating and set a $260.00 price target on shares of Broadcom in a research report on Friday, August 11th. Finally, Zacks Investment Research lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. Five analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $298.73.

Broadcom (AVGO) remained flat at $$263.89 during mid-day trading on Thursday. 7,922,387 shares of the company’s stock were exchanged, compared to its average volume of 2,799,131. The company has a market cap of $107,660.00, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 1.26 and a beta of 1.05. The company has a quick ratio of 3.84, a current ratio of 4.48 and a debt-to-equity ratio of 0.60. Broadcom has a 12-month low of $167.51 and a 12-month high of $285.68.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.52 by $0.07. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a net margin of 3.12% and a return on equity of 26.82%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business earned $3.47 earnings per share. analysts predict that Broadcom will post 13.93 EPS for the current fiscal year.

In related news, SVP Bryan Ingram sold 30,000 shares of the business’s stock in a transaction dated Thursday, September 14th. The shares were 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 SEC, which is available through this hyperlink. Also, CFO Thomas H. Krause sold 2,595 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $267.34, for a total transaction of $693,747.30. The disclosure for this sale can be found here. Insiders have sold 104,383 shares of company stock worth $25,949,184 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Broadcom by 3.0% during the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after purchasing an additional 793,335 shares during the period. BlackRock Inc. raised its stake in Broadcom 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 during the period. State Street Corp raised its stake in Broadcom 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 during the period. Ameriprise Financial Inc. raised its stake in Broadcom 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 during the period. Finally, Jennison Associates LLC raised its stake in Broadcom by 26.7% during the second quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock worth $1,245,855,000 after purchasing an additional 1,128,052 shares during the period. Hedge funds and other institutional investors own 88.99% of the company’s stock.

TRADEMARK VIOLATION NOTICE: This news story was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another site, it was copied illegally and reposted in violation of United States & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/07/broadcom-avgo-earns-buy-rating-from-loop-capital.html.

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)

Receive News & Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related companies with MarketBeat.com's FREE daily email newsletter.