Broadcom (AVGO) Rating Reiterated by Drexel Hamilton
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.
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.
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