Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating restated by investment analysts at Oppenheimer in a report released on Friday.

Other equities analysts have also recently issued reports about the stock. B. Riley boosted their price objective on shares of Broadcom from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. BMO Capital Markets started coverage on shares of Broadcom in a research note on Monday, November 20th. They issued an “outperform” rating and a $330.00 price objective on the stock. Loop Capital reissued a “buy” rating and issued a $302.00 price objective on shares of Broadcom in a research note on Friday, August 25th. SunTrust Banks reissued a “buy” rating and issued a $281.00 price objective on shares of Broadcom in a research note on Thursday, October 12th. Finally, Morgan Stanley reissued a “buy” rating and issued a $290.00 price objective on shares of Broadcom in a research note on Friday, August 25th. Four research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $303.13.

Broadcom (AVGO) traded down $2.69 during mid-day trading on Friday, reaching $259.34. 3,759,300 shares of the company traded hands, compared to its average volume of 2,811,623. Broadcom has a 1 year low of $173.31 and a 1 year high of $285.68. The stock has a market cap of $106,902.84, a P/E ratio of 18.20, a price-to-earnings-growth ratio of 1.12 and a beta of 1.05. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.80 and a current ratio of 6.39.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, beating the consensus estimate of $4.52 by $0.07. Broadcom had a net margin of 10.18% and a return on equity of 28.61%. The firm had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same quarter in the prior year, the firm earned $3.47 EPS. Broadcom’s revenue for the quarter was up 17.1% on a year-over-year basis. research analysts anticipate that Broadcom will post 16.99 EPS for the current year.

In other news, CFO Thomas H. Krause sold 2,595 shares of the firm’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 transaction of $693,747.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $247.83, for a total transaction of $4,956,600.00. The disclosure for this sale can be found here. Insiders have sold 53,389 shares of company stock valued at $13,462,476 in the last three months. Corporate insiders own 3.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC lifted its stake in Broadcom by 348.3% in the third quarter. Quantitative Systematic Strategies LLC now owns 4,335 shares of the semiconductor manufacturer’s stock valued at $1,051,000 after buying an additional 3,368 shares during the last quarter. Alps Advisors Inc. bought a new stake in Broadcom in the second quarter valued at $221,000. Osborne Partners Capital Management LLC lifted its stake in Broadcom by 5.5% in the third quarter. Osborne Partners Capital Management LLC now owns 9,531 shares of the semiconductor manufacturer’s stock valued at $2,312,000 after buying an additional 499 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Broadcom by 14.4% in the second quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock valued at $155,459,000 after buying an additional 83,929 shares during the last quarter. Finally, DSAM Partners London Ltd lifted its stake in Broadcom by 103.4% in the second quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock valued at $43,048,000 after buying an additional 93,890 shares during the last quarter. Hedge funds and other institutional investors own 88.98% 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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