Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reissued by investment analysts at Raymond James Financial in a note issued to investors on Monday. They currently have a $335.00 price objective on the semiconductor manufacturer’s stock. Raymond James Financial’s price target suggests a potential upside of 27.08% from the company’s current price.
A number of other research analysts have also recently commented on the stock. B. Riley restated a “buy” rating and set a $315.00 price target on shares of Broadcom in a research note on Monday. Oppenheimer raised their price target on shares of Broadcom from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Monday. KeyCorp restated an “overweight” rating and set a $320.00 price target (up previously from $290.00) on shares of Broadcom in a research note on Monday. BidaskClub cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, ValuEngine cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $291.42.
Shares of Broadcom (NASDAQ AVGO) traded down $7.95 on Monday, reaching $263.61. 4,843,100 shares of the company’s stock were exchanged, compared to its average volume of 2,763,943. The company has a market capitalization of $110,790.88, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.30 and a beta of 1.05. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. Broadcom has a 1 year low of $162.40 and a 1 year high of $285.68.
Several large investors have recently made changes to their positions in the business. GSA Capital Partners LLP grew its position in shares of Broadcom by 5.7% during the 3rd quarter. GSA Capital Partners LLP now owns 17,928 shares of the semiconductor manufacturer’s stock worth $4,348,000 after purchasing an additional 961 shares in the last quarter. Gofen & Glossberg LLC IL lifted its holdings in shares of Broadcom by 1.5% during the 3rd quarter. Gofen & Glossberg LLC IL now owns 72,608 shares of the semiconductor manufacturer’s stock worth $17,610,000 after acquiring an additional 1,104 shares during the period. Belpointe Asset Management LLC bought a new stake in shares of Broadcom during the 3rd quarter worth approximately $660,000. Cetera Advisor Networks LLC lifted its holdings in shares of Broadcom by 14.4% during the 3rd quarter. Cetera Advisor Networks LLC now owns 1,541 shares of the semiconductor manufacturer’s stock worth $373,000 after acquiring an additional 194 shares during the period. Finally, Cetera Advisors LLC bought a new stake in shares of Broadcom during the 3rd quarter worth approximately $382,000. Hedge funds and other institutional investors own 88.99% of the company’s stock.
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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.
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