Royal Bank Of Canada reiterated their top pick rating on shares of Broadcom Limited (NASDAQ:AVGO) in a research report released on Wednesday. Royal Bank Of Canada currently has a $285.00 target price on the semiconductor manufacturer’s stock.
Several other equities research analysts have also recently commented on the company. Sanford C. Bernstein reissued an outperform rating and set a $285.00 target price on shares of Broadcom Limited in a report on Tuesday. Mizuho reissued a buy rating and set a $290.00 target price on shares of Broadcom Limited in a report on Sunday. Bank of America Corporation reissued a buy rating and set a $300.00 target price on shares of Broadcom Limited in a report on Friday, October 6th. Morgan Stanley reissued an overweight rating and set a $290.00 target price on shares of Broadcom Limited in a report on Saturday, September 30th. Finally, Vetr raised Broadcom Limited from a buy rating to a strong-buy rating and set a $263.97 target price on the stock in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the stock. Broadcom Limited currently has a consensus rating of Buy and an average price target of $276.80.
Broadcom Limited (AVGO) traded down 0.53% during trading on Wednesday, reaching $249.07. The company had a trading volume of 1,682,054 shares. Broadcom Limited has a 52-week low of $160.62 and a 52-week high of $259.36. The firm has a market capitalization of $101.62 billion, a P/E ratio of 189.70 and a beta of 1.08. The company has a 50-day moving average of $245.61 and a 200-day moving average of $239.18.
Broadcom Limited (NASDAQ:AVGO) last announced its earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The firm had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same quarter in the previous year, the company earned $2.89 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. Analysts expect that Broadcom Limited will post $15.91 EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Broadcom Limited’s (AVGO) “Top Pick” Rating Reaffirmed at Royal Bank Of Canada” was posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.com-unik.info/2017/10/12/broadcom-limiteds-avgo-top-pick-rating-reaffirmed-at-royal-bank-of-canada.html.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were issued a $1.02 dividend. This represents a $4.08 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Monday, September 18th. Broadcom Limited’s dividend payout ratio is presently 348.72%.
In other Broadcom Limited news, SVP Charlie B. Kawwas sold 1,788 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $240.62, for a total transaction of $2,406,200.00. The disclosure for this sale can be found here. Insiders sold 61,788 shares of company stock valued at $15,098,237 over the last quarter. 3.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in AVGO. FNY Managed Accounts LLC bought a new stake in Broadcom Limited during the first quarter valued at about $100,000. Mountain Capital Investment Advisors Inc bought a new stake in Broadcom Limited during the second quarter valued at about $113,000. Shine Investment Advisory Services Inc. bought a new stake in Broadcom Limited during the second quarter valued at about $116,000. Archford Capital Strategies LLC boosted its holdings in Broadcom Limited by 45.4% during the first quarter. Archford Capital Strategies LLC now owns 538 shares of the semiconductor manufacturer’s stock valued at $118,000 after acquiring an additional 168 shares during the period. Finally, D. Scott Neal Inc. bought a new stake in Broadcom Limited during the second quarter valued at about $127,000. Institutional investors own 89.71% of the company’s stock.
About Broadcom Limited
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.
What are top analysts saying about Broadcom Limited? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Broadcom Limited and related companies.