Broadcom (AVGO) Given Buy Rating at Craig Hallum
Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reissued by equities researchers at Craig Hallum in a research report issued to clients and investors on Thursday, The Fly reports. They presently have a $330.00 price objective on the semiconductor manufacturer’s stock, up from their prior price objective of $290.00. Craig Hallum’s price target points to a potential upside of 25.05% from the company’s previous close.
Other research analysts have also recently issued research reports about the stock. B. Riley upped their target price on shares of Broadcom from $305.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. BMO Capital Markets assumed coverage on shares of Broadcom in a report on Monday, November 20th. They issued an “outperform” rating and a $330.00 target price for the company. Loop Capital restated a “buy” rating and issued a $302.00 target price on shares of Broadcom in a report on Friday, August 25th. SunTrust Banks restated a “buy” rating and issued a $281.00 target price on shares of Broadcom in a report on Thursday, October 12th. Finally, Morgan Stanley restated a “buy” rating and issued a $290.00 target price on shares of Broadcom in a report on Friday, August 25th. Five analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has issued a strong buy rating to the company’s stock. Broadcom currently has an average rating of “Buy” and an average target price of $298.73.
Broadcom (NASDAQ AVGO) traded up $2.24 during midday trading on Thursday, reaching $263.89. 4,875,100 shares of the company’s stock traded hands, compared to its average volume of 2,777,329. 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 $163.67 and a 12 month high of $285.68. The firm has a market cap of $106,747.80, a PE ratio of 19.78, a PEG ratio of 1.26 and a beta of 1.05.
In other Broadcom news, CFO Thomas H. Krause sold 2,595 shares of the company’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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $240.62, for a total transaction of $2,406,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 104,383 shares of company stock valued at $25,949,184. 3.60% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in AVGO. IFP Advisors Inc raised its position in Broadcom by 13.4% during the 2nd quarter. IFP Advisors Inc now owns 2,169 shares of the semiconductor manufacturer’s stock worth $506,000 after buying an additional 257 shares during the last quarter. Advisor Partners LLC increased its holdings in shares of Broadcom by 10.0% in the 2nd quarter. Advisor Partners LLC now owns 5,885 shares of the semiconductor manufacturer’s stock valued at $1,372,000 after purchasing an additional 537 shares in the last quarter. Pioneer Investment Management Inc. increased its holdings in shares of Broadcom by 2.2% in 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 purchasing an additional 26,246 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new position in shares of Broadcom in the 2nd quarter valued at about $116,000. Finally, Aveo Capital Partners LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at about $1,504,000. Institutional investors own 88.99% of the company’s stock.
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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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