Deutsche Bank AG Increases Broadcom Limited (AVGO) Price Target to $295.00
Broadcom Limited (NASDAQ:AVGO) had its price objective upped by Deutsche Bank AG from $275.00 to $295.00 in a report issued on Friday morning. They currently have a buy rating on the semiconductor manufacturer’s stock.
Several other research analysts have also weighed in on AVGO. UBS AG reiterated a buy rating and set a $265.00 target price (up from $245.00) on shares of Broadcom Limited in a report on Monday, June 5th. B. Riley reiterated a buy rating and set a $305.00 target price on shares of Broadcom Limited in a report on Saturday. Vetr upgraded Broadcom Limited from a hold rating to a buy rating and set a $258.25 target price on the stock in a report on Monday, August 14th. Royal Bank Of Canada reiterated a buy rating and set a $285.00 target price (up from $270.00) on shares of Broadcom Limited in a report on Saturday. Finally, Drexel Hamilton reiterated a buy rating and set a $292.00 target price on shares of Broadcom Limited in a report on Saturday. Two investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $268.40.
Broadcom Limited (AVGO) opened at 243.25 on Friday. The stock’s 50 day moving average price is $249.87 and its 200 day moving average price is $232.19. The firm has a market cap of $99.00 billion, a P/E ratio of 185.26 and a beta of 1.05. Broadcom Limited has a 1-year low of $158.75 and a 1-year high of $259.36.
Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates 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 26.82% and a net margin of 3.12%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.89 earnings per share. Equities research analysts predict that Broadcom Limited will post $15.90 EPS for the current year.
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In other Broadcom Limited news, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders have sold 41,306 shares of company stock valued at $10,380,120 over the last 90 days. Corporate insiders own 3.60% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. FNY Managed Accounts LLC acquired a new stake in Broadcom Limited during the first quarter valued at $100,000. AllSquare Wealth Management LLC boosted its stake 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 acquired a new stake in Broadcom Limited during the second quarter valued at $113,000. Shine Investment Advisory Services Inc. acquired a new stake in Broadcom Limited during the second quarter valued at $116,000. Finally, Archford Capital Strategies LLC boosted its stake 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 90.03% 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.
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