Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reaffirmed by investment analysts at Craig Hallum in a report released on Friday, MarketBeat.com reports. They presently have a $305.00 target price on the semiconductor manufacturer’s stock, up from their prior target price of $300.00. Craig Hallum’s target price suggests a potential upside of 34.22% from the stock’s current price.

AVGO has been the topic of a number of other research reports. Piper Jaffray Companies set a $293.00 target price on Broadcom and gave the company a “buy” rating in a report on Tuesday, September 25th. Zacks Investment Research reaffirmed a “hold” rating on shares of Broadcom in a research report on Monday, November 12th. Mizuho reaffirmed a “buy” rating on shares of Broadcom in a research report on Friday, October 5th. JPMorgan Chase & Co. assumed coverage on Broadcom in a research report on Thursday, November 8th. They set an “overweight” rating and a $325.00 price target for the company. Finally, ValuEngine raised Broadcom from a “sell” rating to a “hold” rating in a research report on Saturday, November 10th. Nine equities research analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $287.31.

AVGO stock opened at $227.24 on Friday. Broadcom has a twelve month low of $197.46 and a twelve month high of $275.70. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.42 and a current ratio of 3.98. The company has a market capitalization of $95.94 billion, a PE ratio of 15.89, a P/E/G ratio of 1.00 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $5.58 by $0.27. Broadcom had a return on equity of 28.54% and a net margin of 58.18%. The company had revenue of $5.45 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the company earned $4.59 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. Equities research analysts anticipate that Broadcom will post 18.09 EPS for the current fiscal year.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction on Thursday, November 15th. The stock was sold at an average price of $228.94, for a total value of $4,578,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kirsten M. Spears sold 1,194 shares of the firm’s stock in a transaction on Friday, September 28th. The stock was sold at an average price of $246.52, for a total value of $294,344.88. The disclosure for this sale can be found here. Insiders sold 61,194 shares of company stock valued at $14,266,145 over the last three months. Company insiders own 3.30% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Alps Advisors Inc. purchased a new position in shares of Broadcom in the second quarter valued at $643,000. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of Broadcom in the second quarter valued at $3,568,000. Integrated Investment Consultants LLC purchased a new position in shares of Broadcom in the second quarter valued at $203,000. Assetmark Inc. purchased a new position in shares of Broadcom in the second quarter valued at $241,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Broadcom in the second quarter valued at $4,422,000. 85.22% of the stock is owned by institutional investors and hedge funds.

About Broadcom

Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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