Broadcom (NASDAQ:AVGO) had its target price boosted by investment analysts at Deutsche Bank from $300.00 to $330.00 in a report issued on Friday, The Fly reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Deutsche Bank’s price target would suggest a potential upside of 13.68% from the stock’s current price.

AVGO has been the topic of several other reports. ValuEngine cut shares of Broadcom from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. Credit Suisse Group reiterated a “buy” rating and set a $300.00 target price on shares of Broadcom in a report on Wednesday, December 5th. BMO Capital Markets increased their target price on shares of Broadcom from $230.00 to $250.00 and gave the stock a “market perform” rating in a report on Friday, December 7th. B. Riley increased their target price on shares of Broadcom from $300.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, December 11th. Finally, BidaskClub upgraded shares of Broadcom from a “buy” rating to a “strong-buy” rating in a report on Thursday, December 13th. Ten research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $295.85.

AVGO stock opened at $290.29 on Friday. The stock 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 has a 12 month low of $197.46 and a 12 month high of $286.63. The company has a current ratio of 3.90, a quick ratio of 3.41 and a debt-to-equity ratio of 0.66.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.32 by $1.23. The company had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.83 billion. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The firm’s revenue was up 8.6% compared to the same quarter last year. During the same quarter last year, the firm posted $5.12 EPS. On average, equities research analysts expect that Broadcom will post 18.59 EPS for the current fiscal year.

In other news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 17th. The shares were sold at an average price of $256.47, for a total value of $5,129,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Donald Macleod sold 5,223 shares of the firm’s stock in a transaction dated Monday, January 7th. The shares were 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. Insiders sold a total of 45,223 shares of company stock worth $11,449,554 over the last 90 days. Company insiders own 3.30% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in AVGO. Capital International Investors boosted its stake in Broadcom by 504.1% in the 3rd quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock worth $6,787,485,000 after purchasing an additional 22,955,578 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Broadcom by 26,295.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 11,950,143 shares of the semiconductor manufacturer’s stock worth $47,000 after purchasing an additional 11,904,869 shares in the last quarter. Norges Bank acquired a new stake in Broadcom in the 4th quarter worth approximately $1,055,582,000. Capital Research Global Investors boosted its stake in Broadcom by 16.3% in the 3rd quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock worth $6,339,659,000 after purchasing an additional 3,608,395 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Broadcom by 121.7% in the 3rd quarter. Morgan Stanley now owns 4,296,700 shares of the semiconductor manufacturer’s stock worth $1,060,125,000 after purchasing an additional 2,358,329 shares in the last quarter. Institutional investors own 83.49% of the company’s stock.

About Broadcom

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.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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