Analysts’ Weekly Ratings Updates for Broadcom (AVGO)

A number of firms have modified their ratings and price targets on shares of Broadcom (NASDAQ: AVGO) recently:

  • 1/11/2018 – Broadcom was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 1/10/2018 – Broadcom was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $273.40 price target on the stock.
  • 1/4/2018 – Broadcom was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $303.82 price target on the stock.
  • 1/3/2018 – Broadcom was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $295.36 price target on the stock.
  • 12/25/2017 – Broadcom was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $295.91 price target on the stock.
  • 12/18/2017 – Broadcom was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $295.91 price target on the stock.
  • 12/15/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc..
  • 12/14/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Mizuho. They now have a $310.00 price target on the stock. They wrote, “We are moderating our AprQ for AVGO inline with prior seasonality; this still represents 35% growth y/y and reflects an extra week in the JanQ. We believe AVGO remains well-positioned with increasing GM/OM, strong FCF and a potential QCOM acquisition on the horizon. Adjusting our estimates, reiterating our Buy and $310 PT on continued solid execution. We continue to see AVGO as a top pick with a potential roadmap to $500. The company recently raised the dividend to ~$7/share.””
  • 12/12/2017 – Broadcom was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $290.34 price target on the stock.
  • 12/8/2017 – Broadcom had its price target raised by analysts at Nomura to $330.00. They now have a “buy” rating on the stock.
  • 12/8/2017 – Broadcom had its price target raised by analysts at DA Davidson to $325.00. They now have a “buy” rating on the stock.
  • 12/7/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Drexel Hamilton. They now have a $302.00 price target on the stock.
  • 12/7/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Craig Hallum. They now have a $330.00 price target on the stock, up previously from $290.00.
  • 12/7/2017 – Broadcom was given a new $325.00 price target on by analysts at Sanford C. Bernstein. They now have a “buy” rating on the stock.
  • 12/7/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Loop Capital. They now have a $330.00 price target on the stock.
  • 12/7/2017 – Broadcom had its “outperform” rating reaffirmed by analysts at Cowen Inc. They now have a $320.00 price target on the stock, up previously from $270.00.
  • 12/7/2017 – Broadcom had its price target raised by analysts at Mizuho from $290.00 to $310.00. They now have a “buy” rating on the stock.
  • 12/6/2017 – Broadcom had its price target raised by analysts at Susquehanna Bancshares Inc from $300.00 to $325.00. They now have a “positive” rating on the stock.
  • 12/6/2017 – Broadcom is now covered by analysts at Credit Suisse Group AG. They set an “outperform” rating and a $335.00 price target on the stock.
  • 12/4/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Raymond James Financial, Inc.. They now have a $335.00 price target on the stock.
  • 12/4/2017 – Broadcom had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $330.00 price target on the stock, up previously from $315.00.
  • 12/4/2017 – Broadcom had its “buy” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $300.00 price target on the stock, up previously from $275.00.
  • 12/4/2017 – Broadcom had its “overweight” rating reaffirmed by analysts at KeyCorp. They now have a $320.00 price target on the stock, up previously from $290.00.
  • 12/2/2017 – Broadcom was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 12/1/2017 – Broadcom was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 11/29/2017 – Broadcom had its price target raised by analysts at Canaccord Genuity from $300.00 to $313.00. They now have a “buy” rating on the stock.
  • 11/27/2017 – Broadcom was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $316.00 price target on the stock. According to Zacks, “Broadcom has outperformed the industry it belongs to on a year-to-date basis. The company is benefiting from strong demand of its wireless solutions, which is expected to continue in the fiscal fourth quarter. Broadcom now expects fourth-quarter revenue growth to be in the double-digit range on a year-over-year basis, much similar to the second and third quarter. However, gross margin is expected to contract slightly due to unfavorable product mix (higher mix of low margin wireless business). The company recently completed long-pending Brocade acquisition, which is positive for the stock. Moreover, the company made an unsolicited bid for Qualcomm, which was rejected. Nevertheless, the company intends to pursue the Qualcomm deal more aggressively and is also planning to redomicile in the United States.”
  • 11/27/2017 – Broadcom was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $290.34 price target on the stock.
  • 11/20/2017 – Broadcom had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $315.00 price target on the stock.
  • 11/20/2017 – Broadcom is now covered by analysts at BMO Capital Markets. They set an “outperform” rating and a $330.00 price target on the stock.
  • 11/20/2017 – Broadcom had its price target raised by analysts at Royal Bank of Canada from $300.00 to $315.00. They now have a “top pick” rating on the stock.

Shares of Broadcom Ltd (NASDAQ:AVGO) traded down $0.30 during trading on Tuesday, hitting $263.99. 1,791,493 shares of the stock were exchanged, compared to its average volume of 2,535,611. Broadcom Ltd has a 12 month low of $177.56 and a 12 month high of $285.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.68 and a current ratio of 6.26. The company has a market cap of $107,630.00, a P/E ratio of 67.17, a PEG ratio of 1.13 and a beta of 1.04.

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

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th were issued a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date of this dividend was Monday, December 18th. This is an increase from Broadcom’s previous quarterly dividend of $1.02. Broadcom’s dividend payout ratio is 178.12%.

In other news, insider Hock E. Tan sold 20,789 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $259.85, for a total transaction of $5,402,021.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 794 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $258.60, for a total transaction of $205,328.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,674 shares of company stock valued at $17,355,190. 3.60% of the stock is currently owned by insiders.

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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