Broadcom Limited (NASDAQ:AVGO) had its price objective lifted by Cowen and Company from $260.00 to $270.00 in a research report sent to investors on Sunday. They currently have an outperform rating on the semiconductor manufacturer’s stock.

Several other research analysts have also recently weighed in on AVGO. Zacks Investment Research cut shares of Broadcom Limited from a buy rating to a hold rating in a research report on Tuesday, May 2nd. Instinet restated a buy rating and issued a $260.00 price objective (up from $230.00) on shares of Broadcom Limited in a research report on Wednesday, May 17th. Royal Bank Of Canada restated a top pick rating and issued a $250.00 price objective on shares of Broadcom Limited in a research report on Tuesday, May 23rd. Morgan Stanley restated an overweight rating and issued a $265.00 price objective (up from $245.00) on shares of Broadcom Limited in a research report on Thursday, May 25th. Finally, Mizuho restated a buy rating and issued a $265.00 price objective (up from $250.00) on shares of Broadcom Limited in a research report on Sunday, May 28th. One analyst has 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’s stock. Broadcom Limited presently has an average rating of Buy and an average price target of $268.12.

Shares of Broadcom Limited (NASDAQ AVGO) opened at 241.73 on Friday. The firm has a market capitalization of $98.38 billion, a price-to-earnings ratio of 184.11 and a beta of 1.05. The stock’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.

Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, topping the Thomson Reuters’ 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 net margin of 3.12% and a return on equity of 26.82%. Broadcom Limited’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.89 earnings per share. Equities research analysts forecast that Broadcom Limited will post $15.92 earnings per share for the current fiscal year.

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In other news, SVP Bryan Ingram sold 10,000 shares of the firm’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of the firm’s 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 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.

Several institutional investors have recently modified their holdings of the stock. Reynders McVeigh Capital Management LLC increased its position in shares of Broadcom Limited by 8.1% in the first quarter. Reynders McVeigh Capital Management LLC now owns 1,460 shares of the semiconductor manufacturer’s stock valued at $320,000 after buying an additional 110 shares during the last quarter. Welch & Forbes LLC bought a new position in shares of Broadcom Limited during the first quarter valued at $1,116,000. 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 last quarter. Whittier Trust Co. increased its position in shares of Broadcom Limited by 2,574.3% in the first quarter. Whittier Trust Co. now owns 19,496 shares of the semiconductor manufacturer’s stock valued at $4,269,000 after buying an additional 18,767 shares during the last quarter. Finally, BTC Capital Management Inc. increased its position in shares of Broadcom Limited by 13.0% in the first quarter. BTC Capital Management Inc. now owns 14,934 shares of the semiconductor manufacturer’s stock valued at $3,273,000 after buying an additional 1,718 shares during the last quarter. Hedge funds and other institutional investors own 90.03% 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.

Analyst Recommendations for Broadcom Limited (NASDAQ:AVGO)

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