Broadcom Limited (AVGO) PT Set at $285.00 by Sanford C. Bernstein

Broadcom Limited (NASDAQ:AVGO) received a $285.00 target price from analysts at Sanford C. Bernstein in a research note issued on Monday. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Sanford C. Bernstein’s target price would indicate a potential upside of 9.10% from the company’s previous close.

Several other equities analysts have also issued reports on AVGO. Goldman Sachs Group, Inc. (The) restated a “buy” rating and set a $285.00 price target on shares of Broadcom Limited in a research report on Wednesday, July 12th. Loop Capital restated a “buy” rating and set a $302.00 price target on shares of Broadcom Limited in a research report on Friday, August 25th. SunTrust Banks, Inc. restated a “buy” rating and set a $281.00 price target on shares of Broadcom Limited in a research report on Thursday, October 12th. Morgan Stanley restated a “buy” rating and set a $290.00 price target on shares of Broadcom Limited in a research report on Friday, August 25th. Finally, Bank of America Corporation restated a “buy” rating and set a $300.00 price target on shares of Broadcom Limited in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $277.51.

Broadcom Limited (NASDAQ:AVGO) traded up 3.29% during mid-day trading on Monday, hitting $261.23. The stock had a trading volume of 5,017,431 shares. The firm has a market cap of $106.58 billion, a PE ratio of 198.96 and a beta of 1.08. The company’s 50 day moving average price is $244.74 and its 200 day moving average price is $241.35. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $262.20.

Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the consensus estimate of $4.03 by $0.07. The firm had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The company’s revenue was up 17.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.89 EPS. Analysts anticipate that Broadcom Limited will post $15.91 earnings per share for the current year.

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In related news, SVP Charlie B. Kawwas sold 1,788 shares of the business’s stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $247.28, for a total value of $442,136.64. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Hock E. Tan sold 20,000 shares of the business’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $246.48, for a total value of $4,929,600.00. The disclosure for this sale can be found here. Insiders sold 81,788 shares of company stock worth $20,054,837 over the last 90 days. Company insiders own 3.60% of the company’s stock.

Several large investors have recently bought and sold shares of AVGO. FNY Managed Accounts LLC purchased a new stake in shares of Broadcom Limited in the first quarter worth about $100,000. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Broadcom Limited in the second quarter worth about $113,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Broadcom Limited in the second quarter worth about $116,000. Archford Capital Strategies LLC lifted its position in shares of 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 in the last quarter. Finally, D. Scott Neal Inc. purchased a new stake in shares of Broadcom Limited in the second quarter worth about $127,000. Institutional investors own 89.79% of the company’s stock.

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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