Broadcom (NASDAQ:AVGO) had its price objective decreased by investment analysts at Citigroup from $320.00 to $300.00 in a report issued on Friday, BenzingaRatingsTable reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Citigroup‘s price target suggests a potential upside of 12.81% from the company’s current price.

Several other brokerages have also issued reports on AVGO. DA Davidson lifted their price objective on shares of Broadcom to $325.00 and gave the company a “buy” rating in a report on Friday, March 15th. MKM Partners lifted their price objective on shares of Broadcom to $310.00 and gave the company a “buy” rating in a report on Monday, March 18th. Zacks Investment Research lowered shares of Broadcom from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. BidaskClub lowered shares of Broadcom from a “sell” rating to a “strong sell” rating in a report on Thursday, May 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $325.00 to $365.00 in a report on Monday, March 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $297.58.

Shares of AVGO stock opened at $265.93 on Friday. The company has a market cap of $111.47 billion, a P/E ratio of 14.12, a price-to-earnings-growth ratio of 1.27 and a beta of 0.87. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.27. Broadcom has a 52-week low of $197.46 and a 52-week high of $323.20.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $5.18 by $0.03. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.70 billion. Broadcom had a net margin of 15.92% and a return on equity of 31.66%. Broadcom’s revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company posted $4.88 earnings per share. Sell-side analysts anticipate that Broadcom will post 17.55 earnings per share for the current fiscal year.

In other news, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $315.07, for a total transaction of $6,301,400.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kirsten M. Spears sold 4,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $306.31, for a total transaction of $1,225,240.00. The disclosure for this sale can be found here. Insiders have sold 67,824 shares of company stock worth $20,565,519 over the last three months. Corporate insiders own 3.30% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Brick & Kyle Associates grew its holdings in shares of Broadcom by 3.9% during the first quarter. Brick & Kyle Associates now owns 1,335 shares of the semiconductor manufacturer’s stock valued at $401,000 after buying an additional 50 shares during the last quarter. Belpointe Asset Management LLC lifted its position in Broadcom by 2.0% during the first quarter. Belpointe Asset Management LLC now owns 3,318 shares of the semiconductor manufacturer’s stock valued at $997,000 after purchasing an additional 64 shares during the period. KCL Capital L.P. acquired a new position in Broadcom during the first quarter valued at $3,759,000. Financial Advisors Network Inc. acquired a new position in Broadcom during the first quarter valued at $303,000. Finally, Meridian Wealth Management LLC lifted its position in Broadcom by 10.4% during the first quarter. Meridian Wealth Management LLC now owns 1,913 shares of the semiconductor manufacturer’s stock valued at $575,000 after purchasing an additional 180 shares during the period. 84.42% of the stock is currently owned by hedge funds and other institutional investors.

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.

Read More: Convertible Shares

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.