Broadcom (NASDAQ:AVGO) had its price objective increased by Craig Hallum from $305.00 to $325.00 in a report issued on Friday, The Fly reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Craig Hallum’s price target indicates a potential upside of 11.96% from the company’s previous close.

A number of other analysts have also commented on AVGO. BidaskClub lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 9th. Zacks Investment Research raised shares of Broadcom from a “sell” rating to a “hold” rating in a report on Wednesday, December 5th. Mizuho lifted their target price on shares of Broadcom from $295.00 to $305.00 and gave the stock a “buy” rating in a report on Friday. Deutsche Bank reaffirmed a “buy” rating and set a $330.00 target price (up previously from $300.00) on shares of Broadcom in a report on Friday. Finally, DA Davidson lifted their target price on shares of Broadcom to $325.00 and gave the stock a “buy” rating in a report on Friday. Ten analysts have rated the stock with a hold rating and thirty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $295.85.

AVGO stock opened at $290.29 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41. Broadcom has a fifty-two week low of $197.46 and a fifty-two week high of $286.63. The company has a market capitalization of $106.80 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.22 and a beta of 0.67.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, topping analysts’ consensus estimates of $4.32 by $1.23. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The firm had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same quarter in the previous year, the business earned $5.12 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Broadcom will post 18.59 EPS for the current fiscal year.

In related news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 15th. The shares were sold at an average price of $254.99, for a total value of $5,099,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Donald Macleod sold 5,223 shares of the company’s stock in a transaction on Monday, January 7th. The stock was sold at an average price of $233.65, for a total transaction of $1,220,353.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,223 shares of company stock valued at $11,449,554. Company insiders own 3.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Victory Capital Management Inc. grew its holdings in shares of Broadcom by 42.9% during the 3rd quarter. Victory Capital Management Inc. now owns 47,322 shares of the semiconductor manufacturer’s stock worth $11,676,000 after purchasing an additional 14,213 shares during the period. Dupont Capital Management Corp purchased a new position in shares of Broadcom during the 3rd quarter worth $1,584,000. Commonwealth Equity Services LLC grew its holdings in shares of Broadcom by 8.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 31,627 shares of the semiconductor manufacturer’s stock worth $7,803,000 after purchasing an additional 2,512 shares during the period. Bessemer Group Inc. purchased a new position in shares of Broadcom during the 3rd quarter worth $1,603,000. Finally, Systematic Financial Management LP purchased a new position in shares of Broadcom during the 3rd quarter worth $1,320,000. 83.49% of the stock is owned by hedge funds and other institutional investors.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Featured Story: Why is Cost of Capital Important?

The Fly

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.