Broadcom’s (AVGO) Buy Rating Reiterated at Raymond James Financial
Raymond James Financial reiterated their buy rating on shares of Broadcom (NASDAQ:AVGO) in a research note issued to investors on Monday morning. They currently have a $335.00 target price on the semiconductor manufacturer’s stock.
Other equities analysts have also issued reports about the stock. B. Riley reaffirmed an avgo ( rating and set a $305.00 target price on shares of Broadcom in a report on Monday, August 21st. Rosenblatt Securities reaffirmed a buy rating and set a $270.00 target price on shares of Broadcom in a report on Wednesday, August 23rd. Loop Capital reissued a buy rating and issued a $302.00 price target on shares of Broadcom in a report on Friday, August 25th. Vetr raised shares of Broadcom from a hold rating to a buy rating and set a $258.25 price target for the company in a report on Monday, August 21st. Finally, Cowen reissued a buy rating and issued a $260.00 price target on shares of Broadcom in a report on Friday, August 11th. Five research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $293.51.
Broadcom (NASDAQ AVGO) opened at $263.89 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48. The firm has a market cap of $105,880.00, a P/E ratio of 19.92, a PEG ratio of 1.27 and a beta of 1.05. Broadcom has a 1-year low of $163.67 and a 1-year high of $285.68.
Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.10. The firm had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a net margin of 3.12% and a return on equity of 26.82%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $3.47 EPS. sell-side analysts anticipate that Broadcom will post 13.93 earnings per share for the current year.
In other Broadcom news, CFO Thomas H. Krause sold 2,595 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $267.34, for a total value of $693,747.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,383 shares of company stock worth $25,949,184. Corporate insiders own 3.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. GSA Capital Partners LLP increased its stake in Broadcom by 5.7% during the third quarter. GSA Capital Partners LLP now owns 17,928 shares of the semiconductor manufacturer’s stock worth $4,348,000 after purchasing an additional 961 shares during the period. Gofen & Glossberg LLC IL increased its stake in Broadcom by 1.5% during the third quarter. Gofen & Glossberg LLC IL now owns 72,608 shares of the semiconductor manufacturer’s stock worth $17,610,000 after purchasing an additional 1,104 shares during the period. Belpointe Asset Management LLC purchased a new stake in Broadcom during the third quarter worth about $660,000. Cetera Advisor Networks LLC increased its stake in Broadcom by 14.4% during the third quarter. Cetera Advisor Networks LLC now owns 1,541 shares of the semiconductor manufacturer’s stock worth $373,000 after purchasing an additional 194 shares during the period. Finally, Cetera Advisors LLC purchased a new stake in Broadcom during the third quarter worth about $382,000. 88.99% of the stock is currently owned by institutional investors.
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Broadcom 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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