Investment Analysts’ Weekly Ratings Updates for Broadcom (AVGO)

A number of research firms have changed their ratings and price targets for Broadcom (NASDAQ: AVGO):

  • 12/14/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $310.00 price target on the stock. They wrote, “We are moderating our AprQ for AVGO inline with prior seasonality; this still represents 35% growth y/y and reflects an extra week in the JanQ. We believe AVGO remains well-positioned with increasing GM/OM, strong FCF and a potential QCOM acquisition on the horizon. Adjusting our estimates, reiterating our Buy and $310 PT on continued solid execution. We continue to see AVGO as a top pick with a potential roadmap to $500. The company recently raised the dividend to ~$7/share.””
  • 12/12/2017 – Broadcom was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $290.34 price target on the stock.
  • 12/8/2017 – Broadcom had its price target raised by analysts at Nomura to $330.00. They now have a “buy” rating on the stock.
  • 12/8/2017 – Broadcom had its price target raised by analysts at DA Davidson to $325.00. They now have a “buy” rating on the stock.
  • 12/7/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Drexel Hamilton. They now have a $302.00 price target on the stock.
  • 12/7/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Craig Hallum. They now have a $330.00 price target on the stock, up previously from $290.00.
  • 12/7/2017 – Broadcom was given a new $325.00 price target on by analysts at Sanford C. Bernstein. They now have a “buy” rating on the stock.
  • 12/7/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Loop Capital. They now have a $330.00 price target on the stock.
  • 12/7/2017 – Broadcom had its “outperform” rating reaffirmed by analysts at Cowen Inc. They now have a $320.00 price target on the stock, up previously from $270.00.
  • 12/7/2017 – Broadcom had its price target raised by analysts at Mizuho from $290.00 to $310.00. They now have a “buy” rating on the stock.
  • 12/6/2017 – Broadcom had its price target raised by analysts at Susquehanna Bancshares Inc from $300.00 to $325.00. They now have a “positive” rating on the stock.
  • 12/6/2017 – Broadcom is now covered by analysts at Credit Suisse Group AG. They set an “outperform” rating and a $335.00 price target on the stock.
  • 12/4/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Raymond James Financial, Inc.. They now have a $335.00 price target on the stock.
  • 12/4/2017 – Broadcom had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $330.00 price target on the stock, up previously from $315.00.
  • 12/4/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $300.00 price target on the stock, up previously from $275.00.
  • 12/4/2017 – Broadcom had its “overweight” rating reaffirmed by analysts at KeyCorp. They now have a $320.00 price target on the stock, up previously from $290.00.
  • 12/2/2017 – Broadcom was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 12/1/2017 – Broadcom was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 11/29/2017 – Broadcom had its price target raised by analysts at Canaccord Genuity from $300.00 to $313.00. They now have a “buy” rating on the stock.
  • 11/27/2017 – Broadcom was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $316.00 price target on the stock. According to Zacks, “Broadcom has outperformed the industry it belongs to on a year-to-date basis. The company is benefiting from strong demand of its wireless solutions, which is expected to continue in the fiscal fourth quarter. Broadcom now expects fourth-quarter revenue growth to be in the double-digit range on a year-over-year basis, much similar to the second and third quarter. However, gross margin is expected to contract slightly due to unfavorable product mix (higher mix of low margin wireless business). The company recently completed long-pending Brocade acquisition, which is positive for the stock. Moreover, the company made an unsolicited bid for Qualcomm, which was rejected. Nevertheless, the company intends to pursue the Qualcomm deal more aggressively and is also planning to redomicile in the United States.”
  • 11/27/2017 – Broadcom was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $290.34 price target on the stock.
  • 11/20/2017 – Broadcom had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $315.00 price target on the stock.
  • 11/20/2017 – Broadcom is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $330.00 price target on the stock.
  • 11/20/2017 – Broadcom had its price target raised by analysts at Royal Bank of Canada from $300.00 to $315.00. They now have a “top pick” rating on the stock.
  • 11/14/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Nomura.
  • 11/13/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Sanford C. Bernstein.
  • 11/13/2017 – Broadcom was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $291.95 price target on the stock.
  • 11/7/2017 – Broadcom had its price target raised by analysts at SunTrust Banks, Inc. to $325.00. They now have a “positive” rating on the stock.
  • 11/6/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $290.00 price target on the stock. They wrote, “We were able to briefly catch up with management. We believe while AVGO has ~4.5% tax rate currently, a move to the U.S. and the 50% of revenue from Asia/China, could still leave AVGO, post-move, with a tax rate in the high single digit to 10%. We believe the move might put AVGO in the good graces of the U.S Government and help AVGO close on the BRCD acquisition in the JanQ, so that net EPS impact of the tax jurisdiction move might be a wash. Reiterating Buy rating and $290PT.””
  • 11/6/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Drexel Hamilton. They now have a $302.00 price target on the stock. They wrote, “We view this offer as a way for Broadcom to acquire the cash flow business of Qualcomm for a modest premium and get a relatively cheap call option on the growth business of NXP .””
  • 11/6/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $275.00 price target on the stock.
  • 11/6/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Nomura. They now have a $300.00 price target on the stock, up previously from $273.63.
  • 11/6/2017 – Broadcom had its price target raised by analysts at Jefferies Group LLC from $70.00 to $315.00. They now have a “buy” rating on the stock.
  • 11/3/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Royal Bank of Canada.
  • 11/3/2017 – Broadcom had its “buy” rating reaffirmed by analysts at J P Morgan Chase & Co. They now have a $315.00 price target on the stock.
  • 11/2/2017 – Broadcom had its price target raised by analysts at B. Riley from $305.00 to $315.00. They now have a “buy” rating on the stock.
  • 10/30/2017 – Broadcom was given a new $285.00 price target on by analysts at Sanford C. Bernstein. They now have a “buy” rating on the stock.
  • 10/25/2017 – Broadcom was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Broadcom has outperformed the industry it belongs to on a year-to-date basis. The company is benefiting from strong demand of its wireless solutions, which is expected to continue in the fiscal fourth quarter. Higher dollar content at the company’s large North American smartphone customer’s (Apple) next-gen platform (iPhone) drove revenues. Robust industrial re-sales were also noticeable. Broadcom now expects fourth-quarter revenue growth to be in the double-digit range on a year-over-year basis, much similar to the second and third quarter. However, gross margin is expected to contract slightly due to unfavorable product mix (higher mix of low margin wireless business). Moreover, delay in the Brocade acquisition, which is now anticipated to completed by Nov. 30 remains an overhang on the stock.”
  • 10/18/2017 – Broadcom was given a new $286.00 price target on by analysts at Jefferies Group LLC. They now have a “buy” rating on the stock.
  • 10/18/2017 – Broadcom had its price target raised by analysts at Barclays PLC from $290.00 to $300.00. They now have an “overweight” rating on the stock.
  • 10/17/2017 – Broadcom had its “buy” rating reaffirmed by analysts at KeyCorp. They now have a $290.00 price target on the stock.

Shares of Broadcom Limited (NASDAQ AVGO) opened at $259.34 on Friday. Broadcom Limited has a one year low of $173.31 and a one year high of $285.68. The company has a current ratio of 6.39, a quick ratio of 5.80 and a debt-to-equity ratio of 0.75. The company has a market cap of $105,544.27, a price-to-earnings ratio of 17.97, a PEG ratio of 1.11 and a beta of 1.05.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $4.84 billion during the quarter, compared to the consensus estimate of $4.84 billion. During the same period in the previous year, the firm posted $3.47 earnings per share. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. research analysts predict that Broadcom Limited will post 16.99 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th will be paid a dividend of $1.75 per share. This is an increase from Broadcom’s previous quarterly dividend of $1.02. This represents a $7.00 annualized dividend and a dividend yield of 2.70%. The ex-dividend date of this dividend is Monday, December 18th. Broadcom’s payout ratio is presently 95.77%.

In other news, SVP Bryan Ingram sold 10,000 shares of Broadcom stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $240.62, for a total transaction of $2,406,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction 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 over the last quarter. Insiders own 3.60% of the company’s stock.

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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