Broadcom (AVGO) Stock Rating Upgraded by Vetr
Broadcom (NASDAQ:AVGO) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $290.34 target price on the semiconductor manufacturer’s stock. Vetr‘s target price would suggest a potential upside of 10.80% from the company’s previous close.
Several other research analysts have also weighed in on the company. Nomura upped their price target on Broadcom to $330.00 and gave the company a “buy” rating in a research report on Friday, December 8th. DA Davidson upped their price target on Broadcom to $325.00 and gave the company a “buy” rating in a research report on Friday, December 8th. Drexel Hamilton reissued a “buy” rating and set a $302.00 price target on shares of Broadcom in a research report on Thursday, December 7th. Craig Hallum reissued a “buy” rating and set a $330.00 price target (up from $290.00) on shares of Broadcom in a research report on Thursday, December 7th. Finally, Sanford C. Bernstein set a $325.00 price target on Broadcom and gave the company a “buy” rating in a research report on Thursday, December 7th. Four research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $303.13.
Shares of Broadcom (AVGO) opened at $262.03 on Tuesday. The stock has a market capitalization of $106,900.00, a price-to-earnings ratio of 18.05, a PEG ratio of 1.11 and a beta of 1.05. The company has a current ratio of 6.39, a quick ratio of 5.80 and a debt-to-equity ratio of 0.75. Broadcom has a 52-week low of $173.31 and a 52-week high of $285.68.
In other news, CFO Thomas H. Krause sold 2,595 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $267.34, for a total transaction of $693,747.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $240.62, for a total value of $2,406,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 73,389 shares of company stock valued at $18,392,076. 3.60% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. Sigma Planning Corp boosted its stake in shares of Broadcom by 25.6% during the 2nd quarter. Sigma Planning Corp now owns 1,450 shares of the semiconductor manufacturer’s stock worth $338,000 after acquiring an additional 296 shares in the last quarter. Conning Inc. boosted its stake in shares of Broadcom by 1.1% during the 2nd quarter. Conning Inc. now owns 8,771 shares of the semiconductor manufacturer’s stock worth $2,044,000 after acquiring an additional 92 shares in the last quarter. Dupont Capital Management Corp boosted its stake in shares of Broadcom by 612.2% during the 2nd quarter. Dupont Capital Management Corp now owns 19,806 shares of the semiconductor manufacturer’s stock worth $4,616,000 after acquiring an additional 17,025 shares in the last quarter. LMR Partners LLP bought a new stake in Broadcom during the 2nd quarter valued at approximately $1,612,000. Finally, State of Wisconsin Investment Board boosted its stake in Broadcom by 28.4% during the 2nd quarter. State of Wisconsin Investment Board now owns 534,020 shares of the semiconductor manufacturer’s stock valued at $124,453,000 after purchasing an additional 118,195 shares during the period. Institutional investors own 88.98% of the company’s stock.
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Broadcom 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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