Broadcom Limited (NASDAQ:AVGO) had its price objective boosted by Deutsche Bank AG from $275.00 to $295.00 in a research note released on Friday morning. The brokerage currently has a buy rating on the semiconductor manufacturer’s stock.

Several other research firms have also recently weighed in on AVGO. Rosenblatt Securities restated a buy rating and set a $260.00 target price on shares of Broadcom Limited in a research note on Wednesday, May 31st. Royal Bank Of Canada restated a buy rating and set a $285.00 target price (up from $270.00) on shares of Broadcom Limited in a research note on Saturday. Instinet restated a buy rating and set a $260.00 target price (up from $230.00) on shares of Broadcom Limited in a research note on Wednesday, May 17th. UBS AG restated a buy rating and set a $265.00 target price on shares of Broadcom Limited in a research note on Monday, June 26th. Finally, Sanford C. Bernstein reiterated an outperform rating and issued a $285.00 price target (up from $265.00) on shares of Broadcom Limited in a research note on Saturday, June 3rd. Two analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $268.04.

Shares of Broadcom Limited (AVGO) opened at 245.59 on Friday. The company’s 50 day moving average price is $249.87 and its 200 day moving average price is $232.19. Broadcom Limited has a 52-week low of $158.75 and a 52-week high of $259.36. The firm has a market capitalization of $99.96 billion, a price-to-earnings ratio of 187.04 and a beta of 1.05.

Broadcom Limited (NASDAQ:AVGO) last released its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 27.01% and a net margin of 3.12%. The firm had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the prior year, the company earned $2.89 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts forecast that Broadcom Limited will post $15.78 earnings per share for the current year.

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In other Broadcom Limited news, insider Kirsten M. Spears sold 1,306 shares of Broadcom Limited stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $254.15, for a total transaction of $331,919.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $244.59, for a total value of $2,445,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,306 shares of company stock valued at $10,380,120 in the last quarter. Company insiders own 3.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of AVGO. Peapack Gladstone Financial Corp boosted its position in Broadcom Limited by 0.4% in the first quarter. Peapack Gladstone Financial Corp now owns 2,148 shares of the semiconductor manufacturer’s stock valued at $470,000 after buying an additional 9 shares in the last quarter. Spectrum Management Group Inc. boosted its position in Broadcom Limited by 0.4% in the second quarter. Spectrum Management Group Inc. now owns 2,365 shares of the semiconductor manufacturer’s stock valued at $551,000 after buying an additional 10 shares in the last quarter. Private Trust Co. NA boosted its position in Broadcom Limited by 0.7% in the second quarter. Private Trust Co. NA now owns 1,977 shares of the semiconductor manufacturer’s stock valued at $460,000 after buying an additional 13 shares in the last quarter. IHT Wealth Management LLC boosted its position in Broadcom Limited by 1.4% in the first quarter. IHT Wealth Management LLC now owns 1,094 shares of the semiconductor manufacturer’s stock valued at $238,000 after buying an additional 15 shares in the last quarter. Finally, CWA Asset Management Group LLC boosted its position in Broadcom Limited by 0.9% in the second quarter. CWA Asset Management Group LLC now owns 1,917 shares of the semiconductor manufacturer’s stock valued at $447,000 after buying an additional 17 shares in the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

Broadcom Limited Company Profile

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.

Analyst Recommendations for Broadcom Limited (NASDAQ:AVGO)

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