Broadcom (AVGO) Given Buy Rating at Raymond James Financial

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.

In other Broadcom news, CFO Thomas H. Krause sold 2,595 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $267.34, for a total transaction of $693,747.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Charlie B. Kawwas sold 1,788 shares of the 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. In the last quarter, insiders sold 104,383 shares of company stock worth $25,949,184. 3.60% of the stock is owned by company insiders.

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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About Broadcom

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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