Broadcom Co. (NASDAQ:BRCM) Receives Average Recommendation of “Hold” from Brokerages
Broadcom Co. (NASDAQ:BRCM) has been assigned a consensus recommendation of “Hold” from the eleven ratings firms that are covering the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $77.50.
A hedge fund recently bought a new stake in Broadcom stock. Janney Montgomery Scott LLC purchased a new position in shares of Broadcom Co. (NASDAQ:BRCM) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,698 shares of the semiconductor manufacturer’s stock, valued at approximately $329,000.
Shares of Broadcom (NASDAQ:BRCM) remained flat at $54.67 during trading on Friday. Broadcom has a 52-week low of $41.28 and a 52-week high of $58.51. The company’s 50-day moving average is $55.63 and its 200-day moving average is $52.95.
Broadcom Company Profile
Broadcom Corporation (Broadcom) provides semiconductor solutions for wired and wireless communications. The Company offers a portfolio of system-on-a-chip solutions (SoCs) that deliver voice, video, data and multimedia connectivity in the home, office and mobile environments. The Company’s solutions are used globally by manufacturers and are embedded in an array of communications products.
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