Bank of America Corporation restated their buy rating on shares of Broadcom Limited (NASDAQ:AVGO) in a research note issued to investors on Friday. Bank of America Corporation currently has a $300.00 price target on the semiconductor manufacturer’s stock.

A number of other research firms also recently issued reports on AVGO. KeyCorp restated an overweight rating and set a $280.00 price target on shares of Broadcom Limited in a research note on Wednesday. Rosenblatt Securities restated a buy rating and set a $270.00 price target on shares of Broadcom Limited in a research note on Wednesday. UBS AG restated an overweight rating on shares of Broadcom Limited in a research note on Thursday. Robert W. Baird restated an outperform rating and set a $290.00 price target (up from $260.00) on shares of Broadcom Limited in a research note on Friday. Finally, Jefferies Group LLC restated a buy rating and set a $286.00 price target (up from $270.00) on shares of Broadcom Limited in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the stock. Broadcom Limited presently has an average rating of Buy and a consensus price target of $267.38.

Broadcom Limited (AVGO) traded down 3.71% during trading on Friday, reaching $245.59. 6,909,886 shares of the company were exchanged. The firm’s 50 day moving average price is $249.87 and its 200-day moving average price is $232.19. Broadcom Limited has a one year low of $158.75 and a one year high of $259.36. The stock has a market capitalization of $99.96 billion, a price-to-earnings ratio of 187.04 and a beta of 1.05. Broadcom Limited also was the target of some unusual options trading on Thursday. Stock traders purchased 20,934 put options on the company. This represents an increase of 480% compared to the average daily volume of 3,612 put options.

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

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In other Broadcom Limited news, insider Kirsten M. Spears sold 1,306 shares of the company’s stock in a transaction 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 filing with the SEC, which is available at the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were 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. In the last three months, insiders have sold 41,306 shares of company stock worth $10,380,120. Corporate insiders own 3.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. iAB Financial Bank increased its position in shares of Broadcom Limited by 45.1% in the first quarter. iAB Financial Bank now owns 1,690 shares of the semiconductor manufacturer’s stock valued at $370,000 after buying an additional 525 shares during the period. BTIM Corp. acquired a new position in shares of Broadcom Limited during the first quarter valued at approximately $219,000. Comerica Bank increased its position in shares of Broadcom Limited by 1.3% in the first quarter. Comerica Bank now owns 106,595 shares of the semiconductor manufacturer’s stock valued at $23,780,000 after buying an additional 1,375 shares during the period. Wesbanco Bank Inc. increased its position in shares of Broadcom Limited by 1.6% in the first quarter. Wesbanco Bank Inc. now owns 118,971 shares of the semiconductor manufacturer’s stock valued at $26,050,000 after buying an additional 1,853 shares during the period. Finally, Icon Advisers Inc. Co. increased its position in shares of Broadcom Limited by 4.0% in the first quarter. Icon Advisers Inc. Co. now owns 76,030 shares of the semiconductor manufacturer’s stock valued at $16,648,000 after buying an additional 2,900 shares during the period. 90.94% of the stock is currently owned by institutional investors.

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)

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