Broadcom (NASDAQ:AVGO) received a $325.00 price objective from research analysts at Sanford C. Bernstein in a report issued on Thursday. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Sanford C. Bernstein’s price target would suggest a potential upside of 22.50% from the stock’s previous close.

Several other equities research analysts have also weighed in on AVGO. B. Riley reissued a “buy” rating and set a $305.00 target price on shares of Broadcom in a research report on Saturday, August 26th. Mizuho raised their target price on Broadcom from $290.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday. Loop Capital reissued a “buy” rating and set a $330.00 target price on shares of Broadcom in a research report on Thursday. Vetr raised Broadcom from a “hold” rating to a “buy” rating and set a $258.25 target price on the stock in a research report on Monday, August 14th. Finally, BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 11th. Five equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company. Broadcom currently has an average rating of “Buy” and a consensus price target of $298.73.

Shares of Broadcom (NASDAQ AVGO) traded up $1.41 on Thursday, hitting $265.30. The stock had a trading volume of 470,936 shares, compared to its average volume of 2,799,205. The company has a quick ratio of 3.84, a current ratio of 4.48 and a debt-to-equity ratio of 0.60. The stock has a market cap of $107,661.69, a PE ratio of 18.33, a PEG ratio of 1.27 and a beta of 1.05. Broadcom has a fifty-two week low of $167.51 and a fifty-two week high of $285.68.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.52 by $0.07. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.84 billion. Broadcom had a return on equity of 28.91% and a net margin of 10.18%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.47 EPS. research analysts forecast that Broadcom will post 16.01 EPS for the current fiscal year.

In other news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $246.48, for a total value of $4,929,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas H. Krause sold 2,595 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $267.34, for a total value of $693,747.30. The disclosure for this sale can be found here. In the last three months, insiders sold 104,383 shares of company stock worth $25,949,184. Corporate insiders own 3.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its stake in shares of Broadcom by 13.4% in the second quarter. IFP Advisors Inc now owns 2,169 shares of the semiconductor manufacturer’s stock valued at $506,000 after buying an additional 257 shares in the last quarter. Advisor Partners LLC boosted its stake in shares of Broadcom by 10.0% in the second quarter. Advisor Partners LLC now owns 5,885 shares of the semiconductor manufacturer’s stock valued at $1,372,000 after buying an additional 537 shares in the last quarter. Pioneer Investment Management Inc. boosted its stake in shares of Broadcom by 2.2% in the second quarter. Pioneer Investment Management Inc. now owns 1,236,209 shares of the semiconductor manufacturer’s stock valued at $288,099,000 after buying an additional 26,246 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of Broadcom in the second quarter valued at approximately $116,000. Finally, Aveo Capital Partners LLC purchased a new stake in shares of Broadcom in the second quarter valued at approximately $1,504,000. 88.99% of the stock is currently owned by institutional investors and hedge funds.

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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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