Broadcom (AVGO) Earning Somewhat Favorable Media Coverage, Report Finds
Press coverage about Broadcom (NASDAQ:AVGO) has trended somewhat positive on Wednesday, according to Accern Sentiment Analysis. The research firm identifies positive and negative news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Broadcom earned a media sentiment score of 0.16 on Accern’s scale. Accern also assigned news headlines about the semiconductor manufacturer an impact score of 47.309073912788 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the news headlines that may have impacted Accern Sentiment Analysis’s scoring:
- After-Hours Earnings Report for December 6, 2017 : AVGO, LULU, KEYS, OLLI, VRNT, KFY, GEF, NCS, ALOG, TLRD … – Nasdaq (nasdaq.com)
- Let Me Show You The Secrets Of- Broadcom Limited (NASDAQ:AVGO) – The Stock Street (press release) (thestreetpoint.com)
- Revenue Estimates Analysis Broadcom Limited (AVGO) – Newsline (newsline.com)
- Broadcom Limited (AVGO) (AVGO) In Line for potential break out – Morning Outlook (morningoutlook.com)
- PRESS DIGEST-New York Times business news – Dec 5 (AVGO, QCOM, NFLX) (markets.businessinsider.com)
Broadcom (NASDAQ AVGO) traded down $1.96 on Wednesday, reaching $261.65. 3,811,700 shares of the company’s stock were exchanged, compared to its average volume of 2,768,422. The company has a quick ratio of 3.84, a current ratio of 4.48 and a debt-to-equity ratio of 0.60. The stock has a market cap of $105,880.00, a P/E ratio of 19.92, a price-to-earnings-growth ratio of 1.27 and a beta of 1.05. Broadcom has a 1 year low of $163.45 and a 1 year high of $285.68.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.49 by $0.10. The firm had revenue of $4.84 billion for the quarter, compared to the consensus estimate of $4.84 billion. Broadcom had a net margin of 3.12% and a return on equity of 26.82%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.47 EPS. sell-side analysts forecast that Broadcom will post 13.93 EPS for the current fiscal year.
Several analysts have recently weighed in on AVGO shares. Barclays lifted their price objective on shares of Broadcom from $290.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, October 18th. B. Riley lifted their price objective on shares of Broadcom from $305.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. Vetr lowered shares of Broadcom from a “buy” rating to a “hold” rating and set a $261.95 price objective for the company. in a research note on Monday, September 4th. Zacks Investment Research upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $272.00 price objective for the company in a research note on Tuesday, August 29th. Finally, KeyCorp reiterated a “buy” rating and issued a $290.00 price objective on shares of Broadcom in a research note on Tuesday, October 17th. Five investment analysts have rated the stock with a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $293.51.
In other Broadcom news, SVP Bryan Ingram sold 30,000 shares of Broadcom stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $244.01, for a total transaction of $7,320,300.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Thomas H. Krause sold 2,595 shares of Broadcom stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total transaction of $693,747.30. The disclosure for this sale can be found here. Insiders have sold a total of 104,383 shares of company stock worth $25,949,184 over the last ninety days. Insiders own 3.60% of the company’s stock.
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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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