Broadcom Limited’s (AVGO) Buy Rating Reiterated at Sanford C. Bernstein

Sanford C. Bernstein reiterated their buy rating on shares of Broadcom Limited (NASDAQ:AVGO) in a research note released on Monday morning.

AVGO has been the topic of a number of other reports. B. Riley increased their price objective on shares of Broadcom Limited from $305.00 to $315.00 and gave the company a buy rating in a research note on Thursday, November 2nd. Loop Capital reiterated a buy rating and set a $302.00 price objective on shares of Broadcom Limited in a research note on Friday, August 25th. SunTrust Banks, Inc. reiterated a buy rating and set a $281.00 price objective on shares of Broadcom Limited in a research note on Thursday, October 12th. Morgan Stanley reiterated a buy rating and set a $290.00 price objective on shares of Broadcom Limited in a research note on Friday, August 25th. Finally, Bank of America Corporation reiterated a buy rating and set a $300.00 price objective on shares of Broadcom Limited in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the stock. Broadcom Limited presently has a consensus rating of Buy and an average target price of $284.31.

Broadcom Limited (AVGO) traded up $6.51 on Monday, reaching $272.11. 3,100,000 shares of the company were exchanged, compared to its average volume of 2,751,485. The firm has a market cap of $110,030.00, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.31 and a beta of 1.05. Broadcom Limited has a 1-year low of $160.62 and a 1-year high of $281.80. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48.

Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business had revenue of $4.47 billion during the quarter, compared to analyst estimates of $4.46 billion. During the same period last year, the business earned $2.89 EPS. The business’s revenue was up 17.5% on a year-over-year basis. analysts forecast that Broadcom Limited will post 13.91 earnings per share for the current year.

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In related news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $246.48, for a total transaction of $4,929,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $247.28, for a total transaction of $442,136.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,788 shares of company stock valued at $20,054,837. 3.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of AVGO. Proficio Capital Partners LLC lifted its stake in Broadcom Limited by 50.8% in the first quarter. Proficio Capital Partners LLC now owns 959 shares of the semiconductor manufacturer’s stock valued at $230,000 after acquiring an additional 323 shares during the last quarter. Ballentine Partners LLC acquired a new stake in Broadcom Limited in the first quarter valued at approximately $214,000. Perigon Wealth Management LLC acquired a new stake in Broadcom Limited in the first quarter valued at approximately $2,212,000. Parsons Capital Management Inc. RI lifted its stake in Broadcom Limited by 4.8% in the first quarter. Parsons Capital Management Inc. RI now owns 1,650 shares of the semiconductor manufacturer’s stock valued at $361,000 after acquiring an additional 75 shares during the last quarter. Finally, Verde Servicos Internacionais S.A. lifted its stake in Broadcom Limited by 0.6% in the second quarter. Verde Servicos Internacionais S.A. now owns 16,239 shares of the semiconductor manufacturer’s stock valued at $3,784,000 after acquiring an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 90.11% of the company’s stock.

About Broadcom Limited

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.

Analyst Recommendations for Broadcom Limited (NASDAQ:AVGO)

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