BidaskClub upgraded shares of Broadcom (NASDAQ:AVGO) from a buy rating to a strong-buy rating in a research report report published on Wednesday.
AVGO has been the topic of a number of other reports. MED began coverage on shares of Broadcom in a research note on Thursday, November 8th. They issued a buy rating and a $310.00 target price on the stock. ValuEngine downgraded shares of Broadcom from a sell rating to a strong sell rating in a research note on Thursday, August 2nd. Craig Hallum reaffirmed a buy rating and issued a $300.00 target price (down from $330.00) on shares of Broadcom in a research note on Friday, September 7th. MKM Partners lowered their target price on shares of Broadcom to $255.00 in a research note on Friday, September 7th. Finally, JPMorgan Chase & Co. began coverage on shares of Broadcom in a research note on Thursday, November 8th. They issued an overweight rating and a $325.00 target price on the stock. Ten research analysts have rated the stock with a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $287.78.
Shares of AVGO opened at $237.41 on Wednesday. The company has a market capitalization of $97.48 billion, a P/E ratio of 16.60, a P/E/G ratio of 0.93 and a beta of 0.99. The company has a current ratio of 3.98, a quick ratio of 3.42 and a debt-to-equity ratio of 0.64. Broadcom has a 1-year low of $197.46 and a 1-year high of $278.35.
In other news, insider Kirsten M. Spears sold 1,194 shares of the firm’s stock in a transaction that occurred on Friday, September 28th. The shares were sold at an average price of $246.52, for a total value of $294,344.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $228.94, for a total transaction of $4,578,800.00. The disclosure for this sale can be found here. Insiders sold 61,194 shares of company stock worth $14,266,145 in the last 90 days. Company insiders own 3.30% of the company’s stock.
Several institutional investors have recently modified their holdings of AVGO. BlackRock Inc. bought a new position in shares of Broadcom in the second quarter worth approximately $6,240,939,000. Capital International Investors boosted its holdings in Broadcom by 504.1% in the third quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock valued at $6,787,485,000 after acquiring an additional 22,955,578 shares in the last quarter. FMR LLC bought a new stake in Broadcom in the second quarter valued at $2,768,560,000. Jennison Associates LLC bought a new stake in Broadcom in the second quarter valued at $1,392,514,000. Finally, Northern Trust Corp bought a new stake in Broadcom in the second quarter valued at $1,142,053,000. Hedge funds and other institutional investors own 85.12% of the company’s stock.
Broadcom Inc designs, develops, and supplies a range of semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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