Broadcom Limited (NASDAQ:AVGO) was the recipient of some unusual options trading activity on Monday. Investors bought 10,775 call options on the company. This represents an increase of approximately 177% compared to the typical volume of 3,886 call options.
A number of brokerages recently commented on AVGO. UBS AG restated a “buy” rating and issued a $265.00 price objective (up previously from $245.00) on shares of Broadcom Limited in a research report on Monday, June 5th. Goldman Sachs Group, Inc. (The) restated a “buy” rating and issued a $285.00 price objective on shares of Broadcom Limited in a research report on Wednesday, July 12th. Raymond James Financial, Inc. restated a “strong-buy” rating and issued a $300.00 price objective on shares of Broadcom Limited in a research report on Friday, June 16th. Morgan Stanley restated an “overweight” rating and issued a $280.00 price objective (up previously from $265.00) on shares of Broadcom Limited in a research report on Saturday, June 3rd. Finally, KeyCorp restated an “overweight” rating and issued a $280.00 price objective on shares of Broadcom Limited in a research report on Wednesday, July 12th. One research analyst has rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $263.22.
Broadcom Limited (AVGO) opened at 253.42 on Thursday. Broadcom Limited has a 12-month low of $158.75 and a 12-month high of $258.49. The firm’s market cap is $103.04 billion. The company’s 50 day moving average is $246.89 and its 200 day moving average is $230.00.
Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 1st. The semiconductor manufacturer reported $3.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.50 by $0.19. Broadcom Limited had a negative net margin of 1.54% and a positive return on equity of 24.15%. The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $4.11 billion. During the same quarter in the prior year, the business posted $2.53 EPS. Broadcom Limited’s quarterly revenue was up 17.9% on a year-over-year basis. On average, equities analysts anticipate that Broadcom Limited will post $15.78 earnings per share for the current year.
In related news, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $253.41, for a total value of $7,602,300.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Kirsten M. Spears sold 1,306 shares of the firm’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 90 days, insiders sold 41,306 shares of company stock valued at $10,380,120. 3.60% of the stock is owned by insiders.
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. Mountain Capital Investment Advisors Inc purchased a new position in Broadcom Limited during the second quarter worth about $113,000. Shine Investment Advisory Services Inc. purchased a new position in Broadcom Limited during the second quarter worth about $116,000. Finally, Crestwood Advisors Group LLC purchased a new position in Broadcom Limited during the first quarter worth about $111,000. Institutional investors and hedge funds own 90.94% of the company’s stock.
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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.
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