Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by research analysts at Drexel Hamilton in a research report issued on Saturday. They currently have a $292.00 price objective on the semiconductor manufacturer’s stock. Drexel Hamilton’s price target suggests a potential upside of 18.92% from the stock’s previous close.

Several other research analysts have also commented on the company. B. Riley reissued an “avgo (” rating and issued a $305.00 price target on shares of Broadcom Limited in a research report on Monday, August 21st. Craig Hallum boosted their price target on Broadcom Limited from $260.00 to $290.00 and gave the stock a “buy” rating in a research report on Friday, June 2nd. Loop Capital reissued a “buy” rating and issued a $270.00 price target (up from $251.00) on shares of Broadcom Limited in a research report on Thursday, June 1st. Deutsche Bank AG restated a “buy” rating and set a $275.00 target price (up from $255.00) on shares of Broadcom Limited in a research note on Thursday, June 1st. Finally, Rosenblatt Securities restated a “buy” rating and set a $260.00 target price on shares of Broadcom Limited in a research note on Wednesday, May 31st. Two equities research analysts have rated the stock with a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $267.38.

Broadcom Limited (NASDAQ AVGO) traded down 3.71% on Friday, reaching $245.59. 6,909,886 shares of the company’s stock traded hands. The firm’s 50-day moving average is $249.87 and its 200 day moving average is $232.19. Broadcom Limited has a 12 month low of $158.75 and a 12 month high of $259.36. The firm has a market cap of $99.96 billion, a PE ratio of 187.04 and a beta of 1.05. Broadcom Limited also saw some unusual options trading on Thursday. Traders purchased 20,934 put options on the company. This represents an increase of approximately 480% compared to the typical volume of 3,612 put options.

Broadcom Limited (NASDAQ:AVGO) last issued its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a return on equity of 27.01% and a net margin of 3.12%. Broadcom Limited’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.89 EPS. Equities analysts predict that Broadcom Limited will post $15.78 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This article was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was stolen and reposted in violation of United States and international trademark and copyright laws. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/08/26/broadcom-limited-avgo-rating-reiterated-by-drexel-hamilton.html.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. FNY Managed Accounts LLC acquired a new position in shares of Broadcom Limited during the first quarter valued at $100,000. AllSquare Wealth Management LLC raised its position in shares of 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 acquired a new position in shares of Broadcom Limited during the second quarter valued at $113,000. Shine Investment Advisory Services Inc. acquired a new position in shares of Broadcom Limited during the second quarter valued at $116,000. Finally, Archford Capital Strategies LLC raised its position in shares of 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. Institutional investors own 90.94% of the company’s stock.

About Broadcom Limited

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)

Receive News & Stock Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related stocks with our FREE daily email newsletter.