Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reaffirmed by Drexel Hamilton in a report released on Thursday. They currently have a $302.00 target price on the semiconductor manufacturer’s stock. Drexel Hamilton’s price target suggests a potential upside of 14.44% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Cowen reiterated a “buy” rating and issued a $260.00 price objective on shares of Broadcom in a research note on Friday, August 11th. B. Riley reiterated a “buy” rating and issued a $305.00 price objective on shares of Broadcom in a research note on Saturday, August 26th. Craig Hallum reiterated a “buy” rating on shares of Broadcom in a research note on Wednesday, September 13th. Credit Suisse Group began coverage on shares of Broadcom in a research note on Wednesday. They issued an “outperform” rating and a $335.00 price objective on the stock. Finally, Mizuho increased their price objective on shares of Broadcom from $290.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday. 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 company. The company presently has a consensus rating of “Buy” and an average price target of $298.73.

Shares of Broadcom (NASDAQ:AVGO) traded up $2.24 during midday trading on Thursday, hitting $263.89. 4,875,100 shares of the stock were exchanged, compared to its average volume of 2,777,329. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48. The stock has a market cap of $106,747.80, a P/E ratio of 19.78, a PEG ratio of 1.26 and a beta of 1.05. Broadcom has a 12-month low of $163.67 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, beating analysts’ consensus estimates of $4.52 by $0.07. Broadcom had a net margin of 3.12% and a return on equity of 26.82%. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter last year, the firm posted $3.47 EPS. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. equities research analysts forecast 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 Broadcom 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of Broadcom stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 104,383 shares of company stock valued at $25,949,184. 3.60% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AVGO. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Broadcom during the second quarter valued at $113,000. AllSquare Wealth Management LLC purchased a new stake in shares of Broadcom during the third quarter valued at $113,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Broadcom during the second quarter valued at $116,000. Tower Research Capital LLC TRC boosted its stake in shares of Broadcom by 473.0% during the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after purchasing an additional 473 shares during the period. Finally, Catamount Wealth Management purchased a new stake in shares of Broadcom during the second quarter valued at $140,000. 88.99% of the stock is 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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