Broadcom (NASDAQ:AVGO) had its price objective decreased by equities research analysts at Deutsche Bank from $330.00 to $315.00 in a research report issued to clients and investors on Friday, BenzingaRatingsTable reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Deutsche Bank’s target price would indicate a potential upside of 19.49% from the company’s previous close.
Several other research analysts have also recently commented on the stock. Mizuho upped their target price on shares of Broadcom from $295.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. JPMorgan Chase & Co. increased their price objective on shares of Broadcom from $325.00 to $365.00 in a report on Monday, March 18th. KeyCorp increased their price objective on shares of Broadcom from $335.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, April 26th. Citigroup initiated coverage on shares of Broadcom in a report on Friday, March 15th. They issued a “buy” rating for the company. Finally, Jefferies Financial Group increased their price objective on shares of Broadcom from $314.00 to $341.00 and gave the company a “buy” rating in a report on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have assigned a buy rating to the company. Broadcom has a consensus rating of “Buy” and a consensus price target of $299.32.
NASDAQ AVGO traded down $17.98 on Friday, hitting $263.63. The stock had a trading volume of 4,558,575 shares, compared to its average volume of 3,175,010. Broadcom has a one year low of $197.46 and a one year high of $323.20. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 1.47. The stock has a market cap of $110.73 billion, a price-to-earnings 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 earnings results 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 net margin of 30.50% and a return on equity of 30.31%. The firm had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same quarter in the prior year, the firm earned $4.88 EPS. Broadcom’s quarterly revenue was up 10.0% on a year-over-year basis. As a group, equities research analysts expect that Broadcom will post 17.55 earnings per share for the current fiscal year.
In related news, CFO Thomas H. Krause sold 14,494 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $295.45, for a total value of $4,282,252.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Charlie B. Kawwas sold 9,330 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $295.93, for a total transaction of $2,761,026.90. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,824 shares of company stock valued at $20,565,519. 3.30% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. AlphaOne Investment Services LLC purchased a new stake in Broadcom in the 4th quarter worth approximately $25,000. First Financial Corp IN purchased a new stake in Broadcom in the 1st quarter worth approximately $30,000. Daiwa SB Investments Ltd. purchased a new stake in Broadcom in the 1st quarter worth approximately $30,000. CX Institutional lifted its position in Broadcom by 555.6% in the 1st quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock worth $35,000 after buying an additional 100 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in Broadcom in the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 84.42% of the company’s stock.
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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