Broadcom (NASDAQ:AVGO) had its price objective upped by stock analysts at Craig Hallum from $305.00 to $325.00 in a research report issued to clients and investors on Friday, March 15th, The Fly reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Craig Hallum’s price objective would indicate a potential upside of 6.74% from the company’s current price.
A number of other brokerages also recently issued reports on AVGO. MKM Partners upped their price objective on Broadcom from $255.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, December 7th. UBS Group decreased their price target on Broadcom from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, December 7th. Charter Equity raised shares of Broadcom from a “market perform” rating to a “buy” rating in a research note on Friday, December 7th. Credit Suisse Group reiterated a “buy” rating and set a $300.00 price objective on shares of Broadcom in a research report on Wednesday, December 5th. Finally, BidaskClub lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirty-two have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $301.16.
AVGO traded up $0.20 during trading hours on Friday, hitting $304.48. The company’s stock had a trading volume of 1,389,871 shares, compared to its average volume of 3,003,685. Broadcom has a 12 month low of $197.46 and a 12 month high of $307.40. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.27. The stock has a market capitalization of $120.45 billion, a PE ratio of 16.17, a P/E/G ratio of 1.42 and a beta of 0.68.
Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share for the quarter, topping analysts’ consensus estimates of $4.32 by $1.23. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. The firm had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.83 billion. During the same period in the previous year, the firm posted $5.12 EPS. The business’s quarterly revenue was up 8.6% on a year-over-year basis. As a group, research analysts forecast that Broadcom will post 17.65 earnings per share for the current year.
In other news, SVP Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $304.51, for a total value of $3,045,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Charlie B. Kawwas sold 9,330 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $295.93, for a total value of $2,761,026.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,824 shares of company stock valued at $25,189,319. 3.30% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AVGO. Vanguard Group Inc. lifted its position in Broadcom by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after acquiring an additional 2,094,847 shares during the period. Vanguard Group Inc boosted its position in Broadcom by 6.6% in the third quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after buying an additional 2,094,847 shares during the last quarter. Capital International Investors boosted its position in Broadcom by 504.1% in the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock valued at $6,787,485,000 after buying an additional 22,955,578 shares during the last quarter. BlackRock Inc. increased its holdings in Broadcom by 0.8% in the 3rd quarter. BlackRock Inc. now owns 25,930,258 shares of the semiconductor manufacturer’s stock worth $6,397,772,000 after buying an additional 209,280 shares during the period. Finally, Capital Research Global Investors increased its holdings 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 buying an additional 3,608,395 shares during the period. Hedge funds and other institutional investors own 86.93% of the company’s stock.
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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