Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Broadcom (AVGO) Stock Price
Media headlines about Broadcom (NASDAQ:AVGO) have trended somewhat positive on Tuesday, Accern Sentiment reports. The research group scores the sentiment of media coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public 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 0.13 on Accern’s scale. Accern also assigned media coverage about the semiconductor manufacturer an impact score of 46.0991030972804 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
These are some of the headlines that may have impacted Accern Sentiment Analysis’s scoring:
- Blog Exposure – Qualcomm Turns Down Broadcom’s Revised $121 Billion Acquisition Offer as Not Lucrative; Proposes Meeting Instead (finance.yahoo.com)
- Broadcom says it will seek to elect six, not 11, nominees to Qualcomm’s board (marketwatch.com)
- Why Qualcomm Prefers to Be the Acquirer (finance.yahoo.com)
- [$$] Broadcom Now Seeks Six Seats on Qualcomm Board (finance.yahoo.com)
- Tech Today: Broadcom Scales Back, Liking ADI, AMD, NetApp’s ‘incredible’ Flash (finance.yahoo.com)
Several brokerages have recently issued reports on AVGO. Vetr cut Broadcom from a “buy” rating to a “hold” rating and set a $290.34 price objective for the company. in a research note on Monday, November 27th. Zacks Investment Research upgraded Broadcom from a “sell” rating to a “hold” rating and set a $316.00 price objective for the company in a research note on Monday, November 27th. Mizuho restated a “buy” rating and issued a $290.00 price objective on shares of Broadcom in a research note on Monday, November 6th. Drexel Hamilton restated a “buy” rating and issued a $302.00 price objective on shares of Broadcom in a research note on Monday, November 6th. Finally, B. Riley restated a “buy” rating and issued a $315.00 price objective on shares of Broadcom in a research note on Monday, November 20th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $301.58.
Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.52 by $0.07. The company had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.47 earnings per share. equities research analysts predict that Broadcom will post 17.41 earnings per share for the current fiscal year.
In other Broadcom news, SVP Charlie B. Kawwas sold 1,051 shares of the business’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $264.38, for a total transaction of $277,863.38. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 794 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $258.60, for a total value of $205,328.40. The disclosure for this sale can be found here. Insiders have sold 86,674 shares of company stock worth $22,659,390 in the last three months. 3.60% of the stock is currently owned by corporate insiders.
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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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