Broadcom (NASDAQ:AVGO) had its target price upped by equities research analysts at Jefferies Financial Group to $314.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 37.38% from the stock’s current price.
Other equities analysts have also issued reports about the stock. Charter Equity upgraded shares of Broadcom from a “market perform” rating to a “buy” rating in a research report on Friday. Craig Hallum reaffirmed a “buy” rating and issued a $305.00 target price (up from $300.00) on shares of Broadcom in a research note on Friday. UBS Group reaffirmed a “buy” rating and issued a $275.00 target price (down from $300.00) on shares of Broadcom in a research note on Friday. MKM Partners raised their target price on shares of Broadcom from $255.00 to $280.00 and gave the company a “buy” rating in a research note on Friday. Finally, Cascend Securities raised shares of Broadcom from a “hold” rating to a “buy” rating in a research note on Friday. Nine equities research analysts have rated the stock with a hold rating and thirty-four have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $288.33.
AVGO stock opened at $228.56 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42. Broadcom has a 12 month low of $197.46 and a 12 month high of $274.26. The company has a market capitalization of $93.95 billion, a PE ratio of 12.14, a PEG ratio of 0.98 and a beta of 1.03.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 6th. The semiconductor manufacturer reported $5.85 EPS for the quarter, beating analysts’ consensus estimates of $5.58 by $0.27. Broadcom had a net margin of 58.80% and a return on equity of 28.32%. The company had revenue of $5.45 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the business earned $4.59 earnings per share. Broadcom’s revenue was up 12.4% compared to the same quarter last year. Equities research analysts predict that Broadcom will post 18.45 EPS for the current year.
In other Broadcom news, insider Kirsten M. Spears sold 1,194 shares of Broadcom stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $246.52, for a total transaction of $294,344.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $228.94, for a total transaction of $4,578,800.00. The disclosure for this sale can be found here. Insiders have sold 61,194 shares of company stock worth $14,266,145 over the last three months. Insiders own 3.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of AVGO. BlackRock Inc. purchased a new position in shares of Broadcom in the second quarter worth $6,240,939,000. Capital International Investors increased its stake in shares of Broadcom by 504.1% in the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock worth $6,787,485,000 after buying an additional 22,955,578 shares during the period. FMR LLC purchased a new position in shares of Broadcom in the second quarter worth $2,768,560,000. Northern Trust Corp purchased a new position in shares of Broadcom in the second quarter worth $1,142,053,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Broadcom in the second quarter worth $1,127,357,000. 85.22% of the stock is currently owned by institutional investors.
Broadcom Company Profile
Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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