Broadcom Limited (AVGO) Stock Rating Upgraded by Vetr Inc.

Vetr upgraded shares of Broadcom Limited (NASDAQ:AVGO) from a buy rating to a strong-buy rating in a report issued on Tuesday morning. The firm currently has $260.93 price objective on the semiconductor manufacturer’s stock.

Several other equities research analysts have also commented on AVGO. Rosenblatt Securities reiterated a buy rating and set a $260.00 price objective on shares of Broadcom Limited in a research note on Wednesday, May 31st. Instinet reiterated a buy rating and set a $260.00 price objective (up from $230.00) on shares of Broadcom Limited in a research note on Wednesday, May 17th. Sanford C. Bernstein reiterated an outperform rating and set a $285.00 price objective (up from $265.00) on shares of Broadcom Limited in a research note on Saturday, June 3rd. Canaccord Genuity reiterated a buy rating and set a $272.00 price objective (up from $250.00) on shares of Broadcom Limited in a research note on Saturday, June 3rd. Finally, Barclays PLC reiterated an overweight rating and set a $290.00 price objective (up from $250.00) on shares of Broadcom Limited in a research note on Friday, June 2nd. One investment analyst has rated the stock with a hold rating, thirty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Broadcom Limited has an average rating of Buy and an average price target of $258.37.

Shares of Broadcom Limited (AVGO) traded up 0.10% during mid-day trading on Tuesday, reaching $239.85. The company’s stock had a trading volume of 852,837 shares. Broadcom Limited has a 12-month low of $151.93 and a 12-month high of $256.78. The firm’s 50-day moving average price is $241.21 and its 200 day moving average price is $214.99. The firm’s market cap is $97.52 billion.

Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.50 by $0.19. Broadcom Limited had a positive return on equity of 24.15% and a negative net margin of 1.54%. The firm had revenue of $4.20 billion during the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the previous year, the business earned $2.53 EPS. Broadcom Limited’s revenue for the quarter was up 17.9% compared to the same quarter last year. On average, analysts expect that Broadcom Limited will post $15.77 EPS for the current year.

COPYRIGHT VIOLATION WARNING: This news story was posted by WKRB News and is the property of of WKRB News. If you are accessing this news story on another publication, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The legal version of this news story can be accessed at https://www.wkrb13.com/markets/2285592/broadcom-limited-avgo-stock-rating-upgraded-by-vetr-inc.html.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Monday, June 19th were given a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date was Thursday, June 15th. Broadcom Limited’s dividend payout ratio is presently -566.66%.

In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $253.41, for a total transaction of $7,602,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of the business’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $254.15, for a total transaction of $331,919.90. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,306 shares of company stock valued at $10,380,120. Insiders own 3.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Managed Accounts LLC purchased a new position in Broadcom Limited during the first quarter worth about $100,000. AllSquare Wealth Management LLC raised its position in Broadcom Limited by 38.0% in the first quarter. AllSquare Wealth Management LLC now owns 483 shares of the semiconductor manufacturer’s stock worth $106,000 after buying an additional 133 shares during the last quarter. Crestwood Advisors Group LLC purchased a new position in Broadcom Limited during the first quarter worth about $111,000. Archford Capital Strategies LLC raised its position in Broadcom Limited by 45.4% in the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock worth $118,000 after buying an additional 168 shares during the last quarter. Finally, Independent Advisor Alliance purchased a new position in Broadcom Limited during the fourth quarter worth about $127,000. 90.29% of the stock is owned by hedge funds and other institutional investors.

Broadcom Limited 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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Broadcom Limited (NASDAQ:AVGO)

This story was originally published by WKRB News (https://www.wkrb13.com) and is the sole property of WKRB News. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://www.wkrb13.com/markets/2285592/broadcom-limited-avgo-stock-rating-upgraded-by-vetr-inc.html

Receive News & Ratings for Broadcom Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom Limited and related companies with MarketBeat.com's FREE daily email newsletter.

 


Leave a Reply

 
© 2006-2017 WKRB News.