Broadcom (NASDAQ:AVGO) has been given a $310.00 price target by equities researchers at Sanford C. Bernstein in a note issued to investors on Friday. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 43.54% from the stock’s current price.
A number of other brokerages have also recently commented on AVGO. Bank of America reaffirmed a “neutral” rating and set a $240.00 target price on shares of Broadcom in a report on Monday, July 16th. BidaskClub raised shares of Broadcom from a “sell” rating to a “hold” rating in a report on Wednesday, August 29th. KeyCorp reduced their target price on shares of Broadcom from $325.00 to $260.00 and set an “overweight” rating for the company in a report on Wednesday, July 25th. Zacks Investment Research raised shares of Broadcom from a “sell” rating to a “hold” rating in a report on Monday, June 4th. Finally, ValuEngine cut shares of Broadcom from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 12th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-seven have assigned a buy rating to the company. Broadcom currently has an average rating of “Buy” and a consensus target price of $290.11.
NASDAQ:AVGO opened at $215.97 on Friday. Broadcom has a one year low of $197.46 and a one year high of $285.68. The company has a debt-to-equity ratio of 0.55, a quick ratio of 5.29 and a current ratio of 5.87. The stock has a market cap of $95.58 billion, a P/E ratio of 15.10, a price-to-earnings-growth ratio of 0.96 and a beta of 0.94.
Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.82 by $0.16. The firm had revenue of $5.06 billion for the quarter, compared to the consensus estimate of $5.06 billion. Broadcom had a net margin of 56.32% and a return on equity of 28.81%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.10 earnings per share. research analysts anticipate that Broadcom will post 17.52 EPS for the current fiscal year.
In other Broadcom news, SVP Bryan Ingram sold 10,604 shares of the stock in a transaction on Friday, June 15th. The shares were sold at an average price of $270.02, for a total transaction of $2,863,292.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Monday, July 16th. The shares were sold at an average price of $202.08, for a total transaction of $4,041,600.00. The disclosure for this sale can be found here. Insiders have sold 130,604 shares of company stock valued at $31,572,092 in the last quarter. 3.30% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Broadcom in the 2nd quarter worth about $6,240,939,000. FMR LLC bought a new stake in shares of Broadcom in the 2nd quarter worth about $2,768,560,000. Jennison Associates LLC bought a new stake in shares of Broadcom in the 2nd quarter worth about $1,392,514,000. Bank of New York Mellon Corp bought a new stake in shares of Broadcom in the 2nd quarter worth about $1,127,357,000. Finally, Janus Henderson Group PLC bought a new stake in shares of Broadcom in the 2nd quarter worth about $608,463,000. Hedge funds and other institutional investors own 84.21% of the company’s stock.
Broadcom Company Profile
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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