Broadcom Limited (AVGO) Given Average Rating of “Buy” by Brokerages

Shares of Broadcom Limited (NASDAQ:AVGO) have been given a consensus rating of “Buy” by the thirty-nine ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, thirty-two have assigned a buy recommendation and three have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $287.15.

AVGO has been the topic of a number of recent analyst reports. B. Riley reissued an “avgo (” rating and set a $305.00 price target on shares of Broadcom Limited in a report on Monday, August 21st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $270.00 target price on shares of Broadcom Limited in a report on Wednesday, August 23rd. Vetr raised Broadcom Limited from a “hold” rating to a “buy” rating and set a $258.25 target price on the stock in a report on Monday, August 21st. Cowen and Company reaffirmed a “buy” rating and issued a $260.00 target price on shares of Broadcom Limited in a report on Friday, August 11th. Finally, BidaskClub cut Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th.

In related news, SVP Bryan Ingram sold 10,000 shares of Broadcom Limited stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $240.62, for a total value of $2,406,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Thomas H. Krause sold 2,595 shares of Broadcom Limited 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 disclosure for this sale can be found here. In the last quarter, insiders sold 104,383 shares of company stock valued at $25,949,184. 3.60% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. AllSquare Wealth Management LLC purchased a new position in shares of Broadcom Limited during the third quarter valued at approximately $113,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Broadcom Limited during the second quarter valued at approximately $113,000. Shine Investment Advisory Services Inc. purchased a new position in shares of Broadcom Limited during the second quarter valued at approximately $116,000. D. Scott Neal Inc. purchased a new position in shares of Broadcom Limited during the second quarter valued at approximately $127,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Broadcom Limited 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 buying an additional 473 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Broadcom Limited (NASDAQ:AVGO) traded down $1.22 during trading hours on Thursday, reaching $275.37. The company’s stock had a trading volume of 1,864,200 shares, compared to its average volume of 2,743,606. The company has a current ratio of 4.48, a quick ratio of 3.84 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $112,843.02, a PE ratio of 20.91, a PEG ratio of 1.37 and a beta of 1.05. Broadcom Limited has a twelve month low of $160.62 and a twelve month high of $281.80.

Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion for the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm earned $2.89 earnings per share. research analysts forecast that Broadcom Limited will post 13.91 EPS for the current year.

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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.

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