Broadcom Limited (AVGO) Rating Increased to Buy at Vetr Inc.
Broadcom Limited (NASDAQ:AVGO) was upgraded by research analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday. The firm currently has a $261.95 price target on the semiconductor manufacturer’s stock. Vetr‘s price objective suggests a potential upside of 6.66% from the stock’s current price.
A number of other equities research analysts have also recently weighed in on AVGO. Zacks Investment Research cut Broadcom Limited from a “buy” rating to a “hold” rating in a report on Tuesday, May 2nd. Instinet reaffirmed a “buy” rating and set a $260.00 price target (up previously from $230.00) on shares of Broadcom Limited in a report on Wednesday, May 17th. Royal Bank Of Canada reaffirmed a “top pick” rating and set a $250.00 price target on shares of Broadcom Limited in a report on Tuesday, May 23rd. Morgan Stanley reaffirmed an “overweight” rating and set a $265.00 price target (up previously from $245.00) on shares of Broadcom Limited in a report on Thursday, May 25th. Finally, Mizuho reaffirmed a “buy” rating and set a $265.00 price target (up previously from $250.00) on shares of Broadcom Limited in a report on Sunday, May 28th. Two research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $268.04.
Broadcom Limited (NASDAQ AVGO) opened at 245.59 on Monday. 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. The stock has a market capitalization of $99.96 billion, a PE ratio of 187.04 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly 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 company had revenue of $4.47 billion for 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 business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.89 earnings per share. Equities analysts forecast that Broadcom Limited will post $15.78 EPS for the current year.
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In related news, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction on 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 this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction on 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 ninety days, insiders sold 41,306 shares of company stock valued at $10,380,120. 3.60% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. USA Financial Portformulas Corp acquired a new stake in Broadcom Limited during the second quarter valued at about $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 last quarter. 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 last quarter. Cetera Investment Advisers acquired a new stake in Broadcom Limited during the second quarter valued at about $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 last quarter. 90.94% of the stock is owned by institutional investors and hedge funds.
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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