Broadcom Limited (NASDAQ:AVGO) had its target price increased by MKM Partners in a research note issued to investors on Friday. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock.

A number of other analysts have also recently commented on the stock. Deutsche Bank AG increased their price target on shares of Broadcom Limited from $275.00 to $295.00 and gave the company a “buy” rating in a research note on Friday. Drexel Hamilton reiterated a “buy” rating and issued a $292.00 price target on shares of Broadcom Limited in a research note on Saturday. Royal Bank Of Canada reiterated a “top pick” rating and issued a $285.00 price target (up previously from $270.00) on shares of Broadcom Limited in a research note on Saturday. Mizuho reiterated a “buy” rating and issued a $290.00 price target (up previously from $275.00) on shares of Broadcom Limited in a research note on Saturday. Finally, B. Riley reiterated a “buy” rating and issued a $305.00 price target on shares of Broadcom Limited in a research note on Saturday. Two investment analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $267.94.

Broadcom Limited (AVGO) traded down 3.71% during midday trading on Friday, hitting $245.59. The company had a trading volume of 6,909,886 shares. The stock has a market capitalization of $99.96 billion, a PE ratio of 187.04 and a beta of 1.05. The stock has a 50 day moving average price of $249.87 and a 200-day moving average price of $232.19. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $259.36. Broadcom Limited also was the recipient of some unusual options trading activity on Thursday. Investors bought 20,934 put options on the company. This represents an increase of approximately 480% compared to the average daily volume of 3,612 put options.

Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.03 by $0.07. The firm had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 27.01%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.89 earnings per share. On average, equities analysts predict that Broadcom Limited will post $15.78 EPS for the current year.

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In other Broadcom Limited news, insider Kirsten M. Spears sold 1,306 shares of the firm’s stock in a transaction that occurred on Thursday, June 8th. The shares were sold at an average price of $254.15, for a total transaction of $331,919.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bryan Ingram sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $244.59, for a total transaction of $2,445,900.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,306 shares of company stock worth $10,380,120. 3.60% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Managed Accounts LLC purchased a new position in Broadcom Limited during the first quarter valued at about $100,000. AllSquare Wealth Management LLC raised its position in Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock valued at $106,000 after buying an additional 133 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in Broadcom Limited during the second quarter valued at about $113,000. Shine Investment Advisory Services Inc. purchased a new position in Broadcom Limited during the second quarter valued at about $116,000. Finally, Archford Capital Strategies LLC raised its position in Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Broadcom Limited Company Profile

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.

Analyst Recommendations for Broadcom Limited (NASDAQ:AVGO)

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