Broadcom (NASDAQ:AVGO) received a $340.00 target price from analysts at Sanford C. Bernstein in a report released on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Sanford C. Bernstein’s target price suggests a potential upside of 17.11% from the company’s current price.

A number of other research firms have also issued reports on AVGO. Mizuho restated a “buy” rating and issued a $340.00 target price (up previously from $330.00) on shares of Broadcom in a report on Friday. Zacks Investment Research upgraded Broadcom from a “sell” rating to a “hold” rating and set a $279.00 target price for the company in a report on Tuesday, June 18th. Bank of America restated a “buy” rating and issued a $345.00 target price on shares of Broadcom in a report on Friday. Citigroup reduced their target price on Broadcom from $320.00 to $300.00 and set a “buy” rating for the company in a report on Friday, June 14th. Finally, Royal Bank of Canada initiated coverage on Broadcom in a report on Tuesday, July 23rd. They issued an “outperform” rating and a $320.00 target price for the company. Ten research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. Broadcom currently has a consensus rating of “Buy” and an average price target of $311.71.

Shares of NASDAQ:AVGO traded down $10.26 on Friday, reaching $290.32. 5,929,649 shares of the company traded hands, compared to its average volume of 1,808,186. The company’s 50 day moving average is $282.92 and its 200-day moving average is $286.84. The stock has a market capitalization of $119.65 billion, a PE ratio of 15.42, a P/E/G ratio of 1.47 and a beta of 0.88. Broadcom has a fifty-two week low of $208.23 and a fifty-two week high of $323.20. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.13.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.10 by ($0.11). The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.52 billion. Broadcom had a net margin of 13.44% and a return on equity of 33.21%. Broadcom’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.98 EPS. As a group, analysts expect that Broadcom will post 17.23 EPS for the current year.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $292.16, for a total transaction of $5,843,200.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Bryan Ingram sold 11,922 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $278.58, for a total transaction of $3,321,230.76. The disclosure for this sale can be found here. Insiders have sold 85,388 shares of company stock worth $23,607,682 over the last three months. Company insiders own 3.30% of the company’s stock.

A number of institutional investors have recently bought and sold shares of AVGO. CRA Financial Services LLC grew its position in shares of Broadcom by 2.0% in the second quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock valued at $488,000 after purchasing an additional 33 shares during the last quarter. Liberty Wealth Management LLC grew its position in shares of Broadcom by 62.5% in the second quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 35 shares during the last quarter. Tarbox Family Office Inc. grew its position in shares of Broadcom by 20.2% in the second quarter. Tarbox Family Office Inc. now owns 214 shares of the semiconductor manufacturer’s stock valued at $62,000 after purchasing an additional 36 shares during the last quarter. Enterprise Financial Services Corp grew its position in shares of Broadcom by 14.7% in the second quarter. Enterprise Financial Services Corp now owns 289 shares of the semiconductor manufacturer’s stock valued at $83,000 after purchasing an additional 37 shares during the last quarter. Finally, Cresset Asset Management LLC grew its position in shares of Broadcom by 2.0% in the second quarter. Cresset Asset Management LLC now owns 1,922 shares of the semiconductor manufacturer’s stock valued at $558,000 after purchasing an additional 37 shares during the last quarter. 84.63% of the stock is currently owned by hedge funds and other institutional investors.

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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