Broadcom Limited (AVGO) Rating Reiterated by Royal Bank Of Canada
Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating restated by stock analysts at Royal Bank Of Canada in a note issued to investors on Saturday. They currently have a $285.00 target price on the semiconductor manufacturer’s stock, up from their previous target price of $270.00. Royal Bank Of Canada’s price target points to a potential upside of 16.05% from the stock’s previous close.
Several other equities research analysts have also recently issued reports on the company. Mizuho reiterated a “buy” rating and issued a $290.00 price target (up from $275.00) on shares of Broadcom Limited in a research note on Saturday. B. Riley reiterated a “buy” rating and issued a $305.00 price target on shares of Broadcom Limited in a research note on Saturday. Bank of America Corporation reiterated a “buy” rating and issued a $300.00 price target on shares of Broadcom Limited in a research note on Friday. Jefferies Group LLC reiterated a “buy” rating and issued a $286.00 price target (up from $270.00) on shares of Broadcom Limited in a research note on Friday. Finally, BidaskClub upgraded Broadcom Limited from a “buy” rating to a “strong-buy” rating in a research note on Friday. Two investment 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 a consensus target price of $267.94.
Broadcom Limited (NASDAQ AVGO) traded down 3.71% during midday trading on Friday, reaching $245.59. The company’s stock had a trading volume of 6,909,886 shares. Broadcom Limited has a 52 week low of $158.75 and a 52 week high of $259.36. The firm 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 of $249.87 and a 200 day moving average of $232.19. Broadcom Limited also was the target of some unusual options trading on Thursday. Stock investors purchased 20,934 put options on the stock. This represents an increase of 480% compared to the typical volume of 3,612 put options.
Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a return on equity of 27.01% and a net margin of 3.12%. The firm’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.89 earnings per share. On average, equities research analysts predict that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.
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In other Broadcom Limited news, insider Kirsten M. Spears sold 1,306 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $254.15, for a total value of $331,919.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $253.41, for a total transaction of $7,602,300.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,306 shares of company stock valued at $10,380,120. Company insiders own 3.60% of the company’s stock.
Large investors have recently bought and sold shares of the stock. USA Financial Portformulas Corp purchased a new stake in Broadcom Limited during the second quarter valued at approximately $6,621,000. Sentry Investment Management LLC raised its stake in Broadcom Limited by 1.1% in the second quarter. Sentry Investment Management LLC now owns 31,719 shares of the semiconductor manufacturer’s stock valued at $7,392,000 after buying an additional 333 shares during the period. Toronto Dominion Bank raised its stake in Broadcom Limited by 10.3% in the second quarter. Toronto Dominion Bank now owns 295,961 shares of the semiconductor manufacturer’s stock valued at $68,961,000 after buying an additional 27,726 shares during the period. Cetera Investment Advisers purchased a new stake in Broadcom Limited during the second quarter valued at approximately $228,000. Finally, Advisory Services Network LLC raised its stake in Broadcom Limited by 36.2% in the second quarter. Advisory Services Network LLC now owns 11,184 shares of the semiconductor manufacturer’s stock valued at $2,606,000 after buying an additional 2,974 shares during the period. 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.
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