Broadcom Limited (AVGO) Now Covered by BMO Capital Markets
Investment analysts at BMO Capital Markets initiated coverage on shares of Broadcom Limited (NASDAQ:AVGO) in a report issued on Monday. The firm set an “outperform” rating and a $330.00 price target on the semiconductor manufacturer’s stock. BMO Capital Markets’ target price would indicate a potential upside of 19.31% from the company’s current price.
Several other research firms have also weighed in on AVGO. Mizuho reiterated a “buy” rating and issued a $290.00 price objective on shares of Broadcom Limited in a research note on Monday, November 6th. Drexel Hamilton reiterated a “buy” rating and issued a $302.00 price objective on shares of Broadcom Limited in a research note on Monday, November 6th. Royal Bank Of Canada reiterated a “buy” rating on shares of Broadcom Limited in a research note on Friday, November 3rd. Jefferies Group LLC lifted their price objective on shares of Broadcom Limited from $70.00 to $315.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Finally, Nomura reiterated a “buy” rating and issued a $300.00 price objective (up previously from $273.63) on shares of Broadcom Limited in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty-two have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $286.47.
Broadcom Limited (NASDAQ AVGO) opened at $276.59 on Monday. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. Broadcom Limited has a fifty-two week low of $160.62 and a fifty-two week high of $281.80. The stock has a market cap of $112,145.38, a P/E ratio of 20.78, a price-to-earnings-growth ratio of 1.36 and a beta of 1.05.
Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The firm had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same quarter last year, the business earned $2.89 EPS. The company’s revenue was up 17.5% compared to the same quarter last year. sell-side analysts forecast that Broadcom Limited will post 13.91 earnings per share for the current year.
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In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 104,383 shares of company stock valued at $25,949,184. 3.60% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Broadcom Limited during the second quarter valued at approximately $113,000. AllSquare Wealth Management LLC purchased a new stake in shares of Broadcom Limited during the third quarter valued at approximately $113,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Broadcom Limited during the second quarter valued at approximately $116,000. D. Scott Neal Inc. purchased a new stake in shares of Broadcom Limited during the second quarter valued at approximately $127,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Broadcom Limited by 473.0% during the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after purchasing an additional 473 shares during the period. 89.42% of the stock is owned by hedge funds and other institutional investors.
About Broadcom Limited
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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