Broadcom (AVGO) Cut to Buy at Vetr

Broadcom (NASDAQ:AVGO) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday. They presently have a $295.91 target price on the semiconductor manufacturer’s stock. Vetr‘s price target points to a potential upside of 11.36% from the company’s current price.

Several other analysts have also weighed in on AVGO. Cowen reiterated an “outperform” rating and issued a $270.00 price objective (up previously from $260.00) on shares of Broadcom in a research note on Monday, August 21st. B. Riley reiterated an “avgo (” rating and issued a $305.00 price objective on shares of Broadcom in a research note on Monday, August 21st. KeyCorp reiterated an “overweight” rating and issued a $280.00 price objective on shares of Broadcom in a research note on Wednesday, August 23rd. Rosenblatt Securities reiterated a “buy” rating and issued a $270.00 price objective on shares of Broadcom in a research note on Wednesday, August 23rd. Finally, UBS restated an “overweight” rating on shares of Broadcom in a research note on Thursday, August 24th. Four investment analysts have rated the stock with a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $303.29.

Shares of Broadcom (NASDAQ:AVGO) opened at $265.73 on Monday. The firm has a market cap of $108,412.27, a price-to-earnings ratio of 18.45, a PEG ratio of 1.14 and a beta of 1.05. The company has a debt-to-equity ratio of 0.75, a current ratio of 6.39 and a quick ratio of 5.80. Broadcom has a one year low of $173.31 and a one year high of $285.68.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share for the quarter, beating the consensus estimate of $4.52 by $0.07. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. Broadcom had a net margin of 10.18% and a return on equity of 28.61%. Broadcom’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.47 EPS. analysts expect that Broadcom will post 16.99 earnings per share for the current fiscal year.

In related news, CFO Thomas H. Krause sold 2,595 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $267.34, for a total value of $693,747.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Bryan Ingram sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 28th. The stock was 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 have sold a total of 53,389 shares of company stock worth $13,462,476 over the last ninety days. Insiders own 3.60% of the company’s stock.

Large investors have recently modified their holdings of the stock. AllSquare Wealth Management LLC purchased a new position in shares of Broadcom in the 3rd quarter worth about $113,000. Mountain Capital Investment Advisors Inc purchased a new position in shares of Broadcom in the 2nd quarter worth about $113,000. Tower Research Capital LLC TRC boosted its holdings in shares of Broadcom by 473.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock worth $134,000 after buying an additional 473 shares during the last quarter. Carroll Financial Associates Inc. boosted its holdings in shares of Broadcom by 59.0% in the 3rd quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock worth $144,000 after buying an additional 220 shares during the last quarter. Finally, Balentine LLC boosted its holdings in shares of Broadcom by 21.9% in the 2nd quarter. Balentine LLC now owns 635 shares of the semiconductor manufacturer’s stock worth $148,000 after buying an additional 114 shares during the last quarter. 88.98% of the stock is currently 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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