Broadcom (NASDAQ:AVGO) Rating Reiterated by Mizuho

Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating restated by Mizuho in a report issued on Thursday, MarketBeat.com reports. They currently have a $365.00 price objective on the semiconductor manufacturer’s stock, up from their prior price objective of $340.00. Mizuho’s price objective would indicate a potential upside of 15.72% from the stock’s current price.

Other analysts have also recently issued reports about the stock. BMO Capital Markets lifted their price objective on shares of Broadcom to $310.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Piper Jaffray Companies restated a “buy” rating and set a $345.00 price objective (up from $330.00) on shares of Broadcom in a research note on Tuesday. Rosenblatt Securities set a $370.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Friday, September 13th. Wells Fargo & Co lifted their price objective on shares of Broadcom from $290.00 to $300.00 and gave the company a “market perform” rating in a research note on Friday, September 13th. Finally, Cascend Securities lifted their price objective on shares of Broadcom from $330.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Nine research analysts have rated the stock with a hold rating, twenty-five have issued 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 price target of $328.00.

AVGO stock opened at $315.42 on Thursday. The firm has a 50 day moving average of $309.26 and a 200 day moving average of $287.57. The stock has a market capitalization of $126.82 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 1.51 and a beta of 0.90. The company has a quick ratio of 1.18, a current ratio of 1.32 and a debt-to-equity ratio of 1.58. Broadcom has a 52 week low of $230.33 and a 52 week high of $330.16.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $5.39 EPS for the quarter, beating the consensus estimate of $5.35 by $0.04. Broadcom had a net margin of 13.44% and a return on equity of 34.10%. The business had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.74 billion. During the same period in the previous year, the business posted $5.85 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that Broadcom will post 17.06 earnings per share for the current year.

In other news, insider Mark David Brazeal sold 2,000 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $289.43, for a total transaction of $578,860.00. Also, CEO Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $288.71, for a total transaction of $5,774,200.00. In the last three months, insiders have sold 62,000 shares of company stock worth $18,432,860. Corporate insiders own 3.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Advisors Preferred LLC acquired a new position in Broadcom in the second quarter valued at about $27,000. Marquette Asset Management LLC acquired a new position in Broadcom in the third quarter valued at about $28,000. Garrett Wealth Advisory Group LLC acquired a new position in Broadcom in the third quarter valued at about $28,000. Ellis Investment Partners LLC lifted its position in Broadcom by 55.7% in the third quarter. Ellis Investment Partners LLC now owns 123 shares of the semiconductor manufacturer’s stock valued at $33,000 after buying an additional 44 shares during the last quarter. Finally, Doyle Wealth Management acquired a new position in Broadcom in the second quarter valued at about $42,000. 83.51% of the stock is currently owned by hedge funds and other institutional investors.

About Broadcom

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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