Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by investment analysts at Craig Hallum in a research report issued on Thursday. They currently have a $330.00 price target on the semiconductor manufacturer’s stock, up from their prior price target of $290.00. Craig Hallum’s price objective suggests a potential upside of 25.05% from the company’s previous close.
A number of other equities analysts have also recently commented on the company. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $325.00 target price (up from $300.00) on shares of Broadcom in a report on Thursday. Loop Capital raised their target price on Broadcom to $330.00 and gave the stock a “buy” rating in a report on Thursday. Cowen reaffirmed an “outperform” rating and issued a $320.00 target price (up from $270.00) on shares of Broadcom in a report on Thursday. Mizuho raised their target price on Broadcom from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Susquehanna Bancshares raised their target price on Broadcom from $300.00 to $325.00 and gave the stock a “positive” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $298.73.
Broadcom (AVGO) traded up $2.24 during mid-day trading on Thursday, hitting $263.89. The stock had a trading volume of 4,875,100 shares, compared to its average volume of 2,777,329. The stock has a market cap of $106,747.80, a P/E ratio of 19.78, a P/E/G ratio of 1.26 and a beta of 1.05. Broadcom has a 52-week low of $163.67 and a 52-week high of $285.68. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60.
In other Broadcom news, SVP Charlie B. Kawwas sold 1,788 shares of the business’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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $240.62, for a total value of $2,406,200.00. The disclosure for this sale can be found here. Insiders have sold 104,383 shares of company stock valued at $25,949,184 in the last 90 days. Company insiders own 3.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of AVGO. Janus Henderson Group PLC raised its stake in shares of Broadcom by 80.3% during the third quarter. Janus Henderson Group PLC now owns 3,397,443 shares of the semiconductor manufacturer’s stock valued at $823,980,000 after acquiring an additional 1,512,956 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Broadcom by 18.2% in the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after buying an additional 1,338,695 shares in the last quarter. Jennison Associates LLC raised its stake in Broadcom by 26.7% in the second quarter. Jennison Associates LLC now owns 5,345,868 shares of the semiconductor manufacturer’s stock worth $1,245,855,000 after buying an additional 1,128,052 shares in the last quarter. BlackRock Inc. raised its stake in Broadcom by 3.5% in the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock worth $5,577,099,000 after buying an additional 798,982 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Broadcom by 3.0% in the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock worth $6,423,271,000 after buying an additional 793,335 shares in the last quarter. 88.99% of the stock is owned by hedge funds and other institutional investors.
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Broadcom Company Profile
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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