Weekly Analysts’ Ratings Changes for Broadcom (AVGO)

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

  • 2/7/2018 – Broadcom was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Broadcom is benefiting from strong demand of its wireless solutions and expanding product portfolio, which makes it well-positioned to address the needs of rapidly growing technologies like IoT and 5G. Broadcom recently raised its bid to acquire all outstanding shares of Qualcomm. This deal will make it the third-largest chipmaker, behind Intel and Samsung. Broadcom also has strong ties with leading OEMs across multiple target markets that will help it to gain key insights into the requirements of customers. Moreover, the upcoming launch of the next generation WiFi products is expected to be a growth driver for the segment. Further, increasing traction of 10G technology to support broadband video delivery will boost Wired Infrastructure revenues. However, customer concentration, intensifying competition, integration risks due to frequent acquisitions and leverage balance sheet are key headwinds.”
  • 2/7/2018 – Broadcom was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 2/6/2018 – Broadcom was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $255.00 price target on the stock. According to Zacks, “Broadcom is benefiting from strong demand of its wireless solutions and expanding product portfolio, which makes it well-positioned to address the needs of rapidly growing technologies like IoT and 5G. Broadcom recently raised its bid to acquire all outstanding shares of Qualcomm. This deal will make it the third-largest chipmaker, behind Intel and Samsung. Broadcom also has strong ties with leading OEMs across multiple target markets that will help it to gain key insights into the requirements of customers. Moreover, the upcoming launch of the next generation WiFi products is expected to be a growth driver for the segment. Further, increasing traction of 10G technology to support broadband video delivery will boost Wired Infrastructure revenues. However, customer concentration, intensifying competition, integration risks due to frequent acquisitions and leverage balance sheet are key headwinds.”
  • 2/1/2018 – Broadcom had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $335.00 price target on the stock, up previously from $330.00.
  • 1/31/2018 – Broadcom had its price target raised by analysts at Canaccord Genuity from $100.00 to $325.00. They now have a “buy” rating on the stock.
  • 1/25/2018 – Broadcom was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 1/25/2018 – Broadcom was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $269.37 price target on the stock.
  • 1/23/2018 – Broadcom had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG.
  • 1/11/2018 – Broadcom was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 1/10/2018 – Broadcom was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $273.40 price target on the stock.
  • 1/4/2018 – Broadcom was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $303.82 price target on the stock.
  • 1/3/2018 – Broadcom was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $295.36 price target on the stock.
  • 12/25/2017 – Broadcom was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $295.91 price target on the stock.
  • 12/18/2017 – Broadcom was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $295.91 price target on the stock.
  • 12/15/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
  • 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.””

Shares of Broadcom Ltd (NASDAQ:AVGO) opened at $235.50 on Monday. The company has a quick ratio of 5.68, a current ratio of 6.26 and a debt-to-equity ratio of 0.75. Broadcom Ltd has a 52 week low of $202.61 and a 52 week high of $285.68. The stock has a market cap of $96,508.47, a price-to-earnings ratio of 55.28, a P/E/G ratio of 0.98 and a beta of 0.88.

Broadcom (NASDAQ:AVGO) last released 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. Broadcom had a net margin of 10.18% and a return on equity of 28.64%. The business had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the previous year, the business earned $3.47 EPS. Broadcom’s quarterly revenue was up 17.1% compared to the same quarter last year. research analysts forecast that Broadcom Ltd will post 17.41 earnings per share for the current year.

In related news, SVP Bryan Ingram sold 794 shares of Broadcom stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $258.60, for a total value of $205,328.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Hock E. Tan sold 20,789 shares of Broadcom stock in a transaction on Monday, December 18th. The stock was sold at an average price of $259.85, for a total transaction of $5,402,021.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,674 shares of company stock valued at $22,659,390. 3.60% of the stock is owned by company insiders.

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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