Broadcom (NASDAQ:AVGO) Given a $315.00 Price Target at Susquehanna Bancshares

Broadcom (NASDAQ:AVGO) received a $315.00 target price from equities research analysts at Susquehanna Bancshares in a research note issued to investors on Tuesday, TipRanks reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Susquehanna Bancshares’ target price would suggest a potential upside of 5.70% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. BidaskClub cut Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd. Barclays dropped their price objective on Broadcom from $360.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, June 14th. DA Davidson reduced their price objective on Broadcom to $300.00 and set a “buy” rating for the company in a report on Friday, June 14th. Summit Insights raised Broadcom from a “hold” rating to a “buy” rating and set a $253.03 target price for the company in a research report on Friday, June 14th. Finally, Charter Equity lowered Broadcom from a “buy” rating to a “market perform” rating and set a $254.00 target price for the company. in a research report on Friday, June 14th. Ten equities research analysts have rated the stock with a hold rating and twenty-seven have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $304.16.

Shares of AVGO traded up $3.57 on Tuesday, reaching $298.01. The stock had a trading volume of 1,515,593 shares, compared to its average volume of 2,738,333. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.13 and a current ratio of 1.26. Broadcom has a 12-month low of $208.23 and a 12-month high of $323.20. The firm has a market capitalization of $116.48 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.43 and a beta of 0.88. The company has a 50-day simple moving average of $283.11 and a 200-day simple moving average of $286.75.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 EPS for the quarter, topping analysts’ consensus estimates of $5.18 by $0.03. The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.70 billion. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.88 EPS. On average, analysts expect that Broadcom will post 17.23 EPS for the current fiscal year.

In related news, SVP Bryan Ingram sold 13,466 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $278.78, for a total value of $3,754,051.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $270.46, for a total value of $5,409,200.00. The disclosure for this sale can be found here. Insiders sold a total of 85,388 shares of company stock valued at $23,607,682 over the last three months. 3.30% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pinnacle Bank boosted its position in shares of Broadcom by 128.2% during the 2nd quarter. Pinnacle Bank now owns 89 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 50 shares during the last quarter. Liberty Wealth Management LLC increased its holdings in Broadcom by 62.5% during the second quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 35 shares during the period. Advisors Preferred LLC purchased a new position in Broadcom during the second quarter valued at approximately $27,000. Doyle Wealth Management bought a new position in Broadcom in the second quarter worth approximately $42,000. Finally, FNY Investment Advisers LLC bought a new position in Broadcom in the second quarter worth approximately $51,000. 84.63% of the stock is owned by institutional investors.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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