Broadcom Inc (NASDAQ:AVGO) has received an average recommendation of “Buy” from the forty ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and twenty-nine have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $308.83.
Several equities research analysts have issued reports on AVGO shares. DA Davidson increased their target price on Broadcom to $325.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. MKM Partners increased their target price on Broadcom to $310.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Zacks Investment Research downgraded Broadcom from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. increased their target price on Broadcom from $325.00 to $365.00 in a research report on Monday, March 18th. Finally, Loop Capital increased their target price on Broadcom to $315.00 and gave the stock a “buy” rating in a research report on Monday, March 18th.
In related news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $315.07, for a total value of $6,301,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kirsten M. Spears sold 4,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $306.31, for a total value of $1,225,240.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,824 shares of company stock worth $26,390,919. Insiders own 3.30% of the company’s stock.
Broadcom stock traded up $0.67 during trading on Thursday, hitting $304.06. The stock had a trading volume of 2,068,337 shares, compared to its average volume of 2,731,581. Broadcom has a 1 year low of $197.46 and a 1 year high of $323.20. The company has a current ratio of 1.27, a quick ratio of 1.14 and a debt-to-equity ratio of 1.47. The company has a market cap of $118.56 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.47 and a beta of 0.68.
Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 EPS for the quarter, beating the consensus estimate of $4.32 by $1.23. The business had revenue of $5.79 billion for the quarter, compared to the consensus estimate of $5.83 billion. Broadcom had a return on equity of 30.31% and a net margin of 30.50%. Broadcom’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.12 earnings per share. As a group, equities research analysts forecast that Broadcom will post 17.65 earnings per share for the current fiscal year.
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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