Broadcom (AVGO) Downgraded by Vetr

Broadcom (NASDAQ:AVGO) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a report released on Wednesday. They presently have a $295.36 price target on the semiconductor manufacturer’s stock. Vetr‘s price objective indicates a potential upside of 10.62% from the company’s current price.

Other equities analysts have also issued research reports about the company. KeyCorp reissued a “buy” rating and set a $290.00 target price on shares of Broadcom in a research note on Tuesday, October 17th. SunTrust Banks reissued a “buy” rating and set a $281.00 target price on shares of Broadcom in a research note on Thursday, October 12th. Jefferies Group set a $286.00 target price on Broadcom and gave the stock a “buy” rating in a research note on Wednesday, October 18th. Mizuho reissued a “buy” rating and set a $290.00 target price on shares of Broadcom in a research note on Sunday, October 8th. Finally, Bank of America reissued a “buy” rating and set a $300.00 target price on shares of Broadcom in a research note on Friday, October 6th. Four research analysts have rated the stock with a hold rating, thirty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $303.27.

Broadcom (NASDAQ:AVGO) opened at $267.01 on Wednesday. Broadcom has a 12 month low of $173.31 and a 12 month high of $285.68. The company has a current ratio of 6.26, a quick ratio of 5.68 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $108,930.00, a PE ratio of 67.94, a P/E/G ratio of 1.10 and a beta of 1.05.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $4.52 by $0.07. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The firm had revenue of $4.84 billion for the quarter, compared to analyst estimates of $4.84 billion. During the same quarter in the prior year, the company earned $3.47 EPS. Broadcom’s revenue was up 17.1% on a year-over-year basis. analysts forecast that Broadcom will post 16.99 earnings per share for the current year.

In other news, CEO Hock E. Tan sold 789 shares of the stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $264.38, for a total value of $208,595.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Bryan Ingram sold 794 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $258.60, for a total value of $205,328.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,674 shares of company stock worth $22,311,790. Company insiders own 3.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Quantitative Systematic Strategies LLC grew its stake in Broadcom by 348.3% during the 3rd quarter. Quantitative Systematic Strategies LLC now owns 4,335 shares of the semiconductor manufacturer’s stock worth $1,051,000 after buying an additional 3,368 shares during the last quarter. Osborne Partners Capital Management LLC grew its stake in Broadcom by 5.5% during the 3rd quarter. Osborne Partners Capital Management LLC now owns 9,531 shares of the semiconductor manufacturer’s stock worth $2,312,000 after buying an additional 499 shares during the last quarter. Capital Guardian Trust Co. grew its stake in Broadcom by 2.9% during the 3rd quarter. Capital Guardian Trust Co. now owns 277,330 shares of the semiconductor manufacturer’s stock worth $67,264,000 after buying an additional 7,847 shares during the last quarter. Segment Wealth Management LLC grew its stake in Broadcom by 6.1% during the 2nd quarter. Segment Wealth Management LLC now owns 14,030 shares of the semiconductor manufacturer’s stock worth $3,269,000 after buying an additional 810 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Broadcom by 5.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,296,242 shares of the semiconductor manufacturer’s stock worth $314,391,000 after buying an additional 63,026 shares during the last quarter. Hedge funds and other institutional investors own 88.48% of the company’s stock.

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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.

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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