Broadcom (AVGO) Downgraded by Vetr to “Hold”

Broadcom (NASDAQ:AVGO) was downgraded by research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday. They presently have a $273.40 target price on the semiconductor manufacturer’s stock. Vetr‘s price target indicates a potential upside of 1.82% from the stock’s current price.

Several other research firms have also recently commented on AVGO. Royal Bank of Canada reissued a “top pick” rating and set a $285.00 target price on shares of Broadcom in a research note on Wednesday, October 11th. Nomura lifted their price target on Broadcom to $330.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Mizuho lifted their price target on Broadcom from $290.00 to $310.00 and gave the stock a “buy” rating in a report on Thursday, December 7th. KeyCorp reaffirmed a “buy” rating and set a $290.00 price target on shares of Broadcom in a report on Tuesday, October 17th. Finally, DA Davidson lifted their price target on Broadcom to $325.00 and gave the stock a “buy” rating in a report on Friday, December 8th. Five equities research analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $302.66.

Broadcom (NASDAQ AVGO) opened at $268.50 on Wednesday. Broadcom has a one year low of $175.40 and a one year high of $285.68. The company has a market capitalization of $109,540.00, a price-to-earnings ratio of 68.32, a P/E/G ratio of 1.16 and a beta of 1.04. The company has a current ratio of 6.26, a quick ratio of 5.68 and a debt-to-equity ratio of 0.75.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.52 by $0.07. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The firm had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same period in the previous year, the firm posted $3.47 EPS. Broadcom’s revenue for the quarter was up 17.1% on a year-over-year basis. analysts anticipate that Broadcom will post 16.99 earnings per share for the current fiscal year.

In other Broadcom news, CFO Thomas H. Krause sold 656 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $264.38, for a total transaction of $173,433.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Hock E. Tan sold 789 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $264.38, for a total value of $208,595.82. The disclosure for this sale can be found here. Insiders sold a total of 86,674 shares of company stock valued at $22,311,790 over the last three months. Company insiders own 3.60% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Broadcom by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock valued at $6,423,271,000 after acquiring an additional 793,335 shares during the last quarter. BlackRock Inc. raised its stake in Broadcom by 3.5% during the 2nd quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock valued at $5,577,099,000 after acquiring an additional 798,982 shares during the last quarter. State Street Corp raised its stake in Broadcom by 1.6% during the 2nd quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock valued at $3,742,946,000 after acquiring an additional 255,044 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Broadcom by 18.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after acquiring an additional 1,338,695 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Broadcom by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 5,309,909 shares of the semiconductor manufacturer’s stock valued at $1,287,864,000 after acquiring an additional 36,356 shares during the last quarter. 88.48% of the stock is owned by hedge funds and other institutional investors.

WARNING: “Broadcom (AVGO) Downgraded by Vetr to “Hold”” was reported by Community Financial News and is the sole property of of Community Financial News. If you are accessing this article on another website, it was illegally stolen and reposted in violation of US and international trademark and copyright laws. The original version of this article can be viewed at https://www.com-unik.info/2018/01/10/broadcom-avgo-downgraded-by-vetr-to-hold.html.

About Broadcom

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

What are top analysts saying about Broadcom? - 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 and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit