Stock analysts at BMO Capital Markets initiated coverage on shares of Broadcom (NASDAQ:AVGO) in a report released on Monday, November 20th. The firm set an “outperform” rating and a $330.00 price target on the semiconductor manufacturer’s stock. BMO Capital Markets’ target price indicates a potential upside of 25.05% from the stock’s previous close.
A number of other equities analysts also recently commented on the stock. Barclays lifted their price objective on shares of Broadcom from $290.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, October 18th. B. Riley boosted their price target on shares of Broadcom from $305.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Vetr cut shares of Broadcom from a “buy” rating to a “hold” rating and set a $261.95 price objective on the stock. in a research note on Monday, September 4th. Zacks Investment Research upgraded shares of Broadcom from a “hold” rating to a “buy” rating and set a $272.00 price objective on the stock in a research note on Tuesday, August 29th. Finally, KeyCorp reiterated a “buy” rating and issued a $290.00 price target on shares of Broadcom in a research report on Tuesday, October 17th. Five analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has assigned a strong buy rating to the company. Broadcom has an average rating of “Buy” and a consensus price target of $293.51.
Broadcom (NASDAQ:AVGO) traded up $2.24 during trading on Monday, hitting $263.89. 4,845,368 shares of the company’s stock traded hands, compared to its average volume of 2,777,186. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.48 and a quick ratio of 3.84. Broadcom has a one year low of $163.67 and a one year high of $285.68. The firm has a market cap of $105,880.00, a PE ratio of 19.92, a P/E/G ratio of 1.27 and a beta of 1.05.
In other Broadcom news, CFO Thomas H. Krause sold 2,595 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $267.34, for a total value of $693,747.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $260.03, for a total value of $5,200,600.00. The disclosure for this sale can be found here. Insiders sold a total of 104,383 shares of company stock worth $25,949,184 in the last quarter. Corporate insiders own 3.60% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc bought a new position in shares of Broadcom in the second quarter valued at approximately $113,000. AllSquare Wealth Management LLC bought a new position in shares of Broadcom in the third quarter valued at approximately $113,000. Shine Investment Advisory Services Inc. bought a new position in shares of Broadcom in the second quarter valued at approximately $116,000. D. Scott Neal Inc. bought a new position in Broadcom during the second quarter valued at $127,000. Finally, Tower Research Capital LLC TRC grew its holdings in Broadcom by 473.0% during the second quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after purchasing an additional 473 shares during the period. 88.99% of the stock is owned by institutional investors.
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Broadcom 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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