Broadcom (NASDAQ:AVGO) had its price target upped by analysts at Cowen from $270.00 to $320.00 in a note issued to investors on Thursday, MarketBeat.com reports. The brokerage currently has an “outperform” rating on the semiconductor manufacturer’s stock. Cowen’s target price indicates a potential upside of 21.26% from the company’s previous close.
Other research analysts have also issued reports about the company. B. Riley reiterated an “avgo (” rating and set a $305.00 target price on shares of Broadcom in a report on Monday, August 21st. Jefferies Group reiterated a “buy” rating and set a $286.00 target price (up from $270.00) on shares of Broadcom in a report on Friday, August 25th. Rosenblatt Securities reiterated a “buy” rating and set a $270.00 target price on shares of Broadcom in a report on Wednesday, August 23rd. Loop Capital reiterated a “buy” rating and set a $302.00 target price on shares of Broadcom in a report on Friday, August 25th. Finally, Vetr upgraded Broadcom from a “hold” rating to a “buy” rating and set a $258.25 target price on the stock in a report on Monday, August 14th. Five investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $296.16.
Broadcom (NASDAQ:AVGO) opened at $263.89 on Thursday. Broadcom has a 12-month low of $163.67 and a 12-month high of $285.68. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.48 and a quick ratio of 3.84. The stock has a market capitalization of $106,747.80, a price-to-earnings ratio of 19.78, a PEG ratio of 1.26 and a beta of 1.05.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.52 by $0.07. The business had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a return on equity of 26.82% and a net margin of 3.12%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period last year, the company earned $3.47 EPS. research analysts anticipate that Broadcom will post 13.93 earnings per share for the current fiscal year.
In related news, CFO Thomas H. Krause sold 2,595 shares of Broadcom 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $260.03, for a total value of $5,200,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,383 shares of company stock worth $25,949,184. 3.60% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. AllSquare Wealth Management LLC bought a new stake in shares of Broadcom during the third quarter worth approximately $113,000. Mountain Capital Investment Advisors Inc bought a new stake in shares of Broadcom during the second quarter worth approximately $113,000. Shine Investment Advisory Services Inc. bought a new stake in shares of Broadcom during the second quarter worth approximately $116,000. Tower Research Capital LLC TRC boosted its holdings in shares of Broadcom by 473.0% during the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after acquiring an additional 473 shares during the period. Finally, Carroll Financial Associates Inc. boosted its holdings in shares of Broadcom by 59.0% during the third quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock worth $144,000 after acquiring an additional 220 shares during the period. Institutional investors own 88.99% of the company’s stock.
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.