Broadcom (NASDAQ:AVGO)‘s stock had its “outperform” rating reaffirmed by equities researchers at Cowen in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They currently have a $320.00 price target on the semiconductor manufacturer’s stock, up from their prior price target of $270.00. Cowen’s price target would indicate a potential upside of 21.26% from the company’s current price.

AVGO has been the subject of several other research reports. Royal Bank Of Canada reiterated a “buy” rating and issued a $270.00 target price on shares of Broadcom in a report on Friday, August 11th. BidaskClub downgraded shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Vetr upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $258.25 target price for the company in a report on Monday, August 14th. Zacks Investment Research downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. Finally, B. Riley reiterated an “avgo (” rating and issued a $305.00 target price on shares of Broadcom in a report on Monday, August 21st. Five research 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 company currently has an average rating of “Buy” and an average target price of $298.73.

Shares of Broadcom (NASDAQ AVGO) remained flat at $$263.89 during midday trading on Thursday. The company had a trading volume of 7,924,702 shares, compared to its average volume of 2,799,135. The firm has a market cap of $107,660.00, a price-to-earnings ratio of 19.78, a P/E/G ratio of 1.26 and a beta of 1.05. The company has a current ratio of 4.48, a quick ratio of 3.84 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 announced its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.07. The business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.84 billion. Broadcom had a net margin of 3.12% and a return on equity of 26.82%. The business’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $3.47 EPS. analysts predict that Broadcom will post 13.93 earnings per share for the current year.

In other Broadcom news, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $240.62, for a total transaction of $2,406,200.00. The sale 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 company’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.

Institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its holdings in shares of Broadcom by 80.3% in the third quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock valued at $823,980,000 after purchasing an additional 1,512,956 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Broadcom by 18.2% in the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after purchasing an additional 1,338,695 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Broadcom by 26.7% in the second quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock valued at $1,245,855,000 after purchasing an additional 1,128,052 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Broadcom by 3.5% in the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock valued at $5,577,099,000 after purchasing an additional 798,982 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Broadcom by 3.0% in the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock valued at $6,423,271,000 after purchasing an additional 793,335 shares in 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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