UBS AG Reiterates “Overweight” Rating for Broadcom Limited (AVGO)
UBS AG reaffirmed their overweight rating on shares of Broadcom Limited (NASDAQ:AVGO) in a research note released on Thursday morning, www.flashratings.com reports.
A number of other analysts have also issued reports on AVGO. Zacks Investment Research lowered Broadcom Limited from a buy rating to a hold rating in a research report on Tuesday, May 2nd. Instinet reaffirmed a buy rating and set a $260.00 target price (up from $230.00) on shares of Broadcom Limited in a research report on Wednesday, May 17th. Royal Bank Of Canada reaffirmed a top pick rating and set a $250.00 target price on shares of Broadcom Limited in a research report on Tuesday, May 23rd. Morgan Stanley reaffirmed an overweight rating and set a $265.00 target price (up from $245.00) on shares of Broadcom Limited in a research report on Thursday, May 25th. Finally, Mizuho reaffirmed a buy rating and set a $265.00 target price (up from $250.00) on shares of Broadcom Limited in a research report on Sunday, May 28th. Two equities research analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $268.04.
Broadcom Limited (AVGO) opened at 245.59 on Thursday. Broadcom Limited has a 52-week low of $158.75 and a 52-week high of $259.36. The stock’s 50 day moving average price is $249.87 and its 200-day moving average price is $232.19. The company has a market cap of $99.96 billion, a P/E ratio of 187.04 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same period in the previous year, the company earned $2.89 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities analysts predict that Broadcom Limited will post $15.78 earnings per share for the current fiscal year.
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In other Broadcom Limited news, insider Kirsten M. Spears sold 1,306 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was sold at an average price of $254.15, for a total value of $331,919.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction on 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 sold 41,306 shares of company stock worth $10,380,120 in the last ninety days. 3.60% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of AVGO. FNY Managed Accounts LLC bought a new position in Broadcom Limited during the first quarter valued at about $100,000. AllSquare Wealth Management LLC boosted its position in Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock valued at $106,000 after buying an additional 133 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Broadcom Limited during the second quarter valued at about $113,000. Shine Investment Advisory Services Inc. bought a new position in Broadcom Limited during the second quarter valued at about $116,000. Finally, Archford Capital Strategies LLC boosted its position in Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after buying an additional 168 shares in the last quarter. 90.03% of the stock is currently owned by 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.
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