Broadcom (NASDAQ:AVGO) had its price objective cut by research analysts at UBS Group from $325.00 to $310.00 in a report issued on Friday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. UBS Group’s price target indicates a potential upside of 17.59% from the company’s current price.
Several other research analysts also recently commented on AVGO. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $310.00 price objective on shares of Broadcom in a research note on Thursday, February 14th. Cowen downgraded Broadcom from an “outperform” rating to a “market perform” rating and set a $280.00 price objective on the stock. in a research note on Friday, February 22nd. BidaskClub downgraded Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 9th. Mizuho raised their price objective on Broadcom from $295.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. Finally, Barclays raised their price objective on Broadcom from $265.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-nine have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $299.32.
Shares of NASDAQ AVGO traded down $17.98 during trading on Friday, hitting $263.63. The company had a trading volume of 4,558,575 shares, compared to its average volume of 3,175,010. The company has a quick ratio of 1.14, a current ratio of 1.27 and a debt-to-equity ratio of 1.47. Broadcom has a 12 month low of $197.46 and a 12 month high of $323.20. The company has a market capitalization of $110.73 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 1.26 and a beta of 0.87.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 EPS for the quarter, topping the consensus estimate of $5.18 by $0.03. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.70 billion. During the same quarter last year, the company earned $4.88 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. Research analysts anticipate that Broadcom will post 17.55 EPS for the current year.
In other Broadcom news, CFO Thomas H. Krause sold 14,494 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $295.45, for a total transaction of $4,282,252.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $315.07, for a total value of $6,301,400.00. The disclosure for this sale can be found here. Insiders have sold a total of 67,824 shares of company stock valued at $20,565,519 in the last 90 days. 3.30% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVGO. AlphaOne Investment Services LLC bought a new stake in shares of Broadcom during the 4th quarter worth approximately $25,000. First Financial Corp IN bought a new stake in shares of Broadcom during the 1st quarter worth approximately $30,000. Daiwa SB Investments Ltd. bought a new stake in shares of Broadcom during the 1st quarter worth approximately $30,000. CX Institutional lifted its stake in shares of Broadcom by 555.6% during the 1st quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock worth $35,000 after acquiring an additional 100 shares during the last quarter. Finally, Karp Capital Management Corp bought a new stake in shares of Broadcom during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 84.42% of the company’s stock.
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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