News articles about Broadcom (NASDAQ:AVGO) have been trending somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies negative and positive news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of companies on a scale of -1 to 1, with scores closest to one being the most favorable. Broadcom earned a daily sentiment score of 0.15 on Accern’s scale. Accern also gave news headlines about the semiconductor manufacturer an impact score of 45.9555531671639 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the next few days.
Here are some of the headlines that may have impacted Accern Sentiment’s analysis:
- Cumulus Networks Announces Support for Platforms With Broadcom Trident 3 ASIC (bizjournals.com)
- 2 Undervalued Dividend Stocks to Buy in August (finance.yahoo.com)
- NYSE Trader: Still time to buy tech stocks (finance.yahoo.com)
- Broadcom Inc (AVGO) Insider Sells $4,098,000.00 in Stock (americanbankingnews.com)
- Activist investor Starboard buys 5.8% stake in Symantec, nominates board members (finance.yahoo.com)
Shares of AVGO traded down $2.55 during trading hours on Monday, hitting $206.72. 5,448,800 shares of the stock traded hands, compared to its average volume of 4,346,373. The company has a quick ratio of 5.29, a current ratio of 5.87 and a debt-to-equity ratio of 0.55. Broadcom has a 1-year low of $197.46 and a 1-year high of $285.68. The firm has a market capitalization of $91.62 billion, a PE ratio of 14.46, a price-to-earnings-growth ratio of 0.96 and a beta of 0.93.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 7th. The semiconductor manufacturer reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.05 by $0.83. Broadcom had a return on equity of 28.81% and a net margin of 56.32%. The business had revenue of $5.02 billion for the quarter, compared to analyst estimates of $5 billion. During the same quarter in the prior year, the firm posted $3.69 earnings per share. The firm’s revenue for the quarter was up 19.4% compared to the same quarter last year. analysts anticipate that Broadcom will post 17.48 EPS for the current year.
Several analysts recently commented on AVGO shares. BidaskClub lowered Broadcom from a “hold” rating to a “sell” rating in a research note on Thursday, April 26th. Morgan Stanley boosted their price objective on Broadcom from $305.00 to $320.00 and gave the stock an “overweight” rating in a research note on Monday, April 30th. Canaccord Genuity reissued a “buy” rating and issued a $325.00 price objective (down previously from $340.00) on shares of Broadcom in a research note on Tuesday, May 1st. Sanford C. Bernstein set a $310.00 price objective on Broadcom and gave the stock a “buy” rating in a research note on Tuesday, May 1st. Finally, B. Riley reduced their price objective on Broadcom from $335.00 to $310.00 and set a “buy” rating on the stock in a research note on Tuesday, May 1st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $290.77.
In related news, SVP Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $250.37, for a total value of $2,503,700.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Bryan Ingram sold 10,604 shares of the company’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $270.02, for a total value of $2,863,292.08. The disclosure for this sale can be found here. Insiders have sold 140,604 shares of company stock worth $34,075,792 in the last ninety days. 3.30% of the stock is currently owned by insiders.
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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