Broadcom (AVGO) – Analysts’ Weekly Ratings Updates

A number of research firms have changed their ratings and price targets for Broadcom (NASDAQ: AVGO):

  • 12/3/2018 – Broadcom had its price target lowered by analysts at Deutsche Bank AG from $310.00 to $300.00. They now have a “buy” rating on the stock.
  • 12/3/2018 – Broadcom was upgraded by analysts at B. Riley from a “neutral” rating to a “buy” rating. They now have a $300.00 price target on the stock, up previously from $250.00.
  • 11/28/2018 – Broadcom was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 11/28/2018 – Broadcom had its “market perform” rating reaffirmed by analysts at Wells Fargo & Co. They now have a $265.00 price target on the stock.
  • 11/28/2018 – Broadcom had its “equal weight” rating reaffirmed by analysts at Morgan Stanley. They now have a $260.00 price target on the stock.
  • 11/16/2018 – Broadcom is now covered by analysts at Credit Suisse Group AG. They set an “outperform” rating and a $300.00 price target on the stock.
  • 11/16/2018 – Broadcom was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 11/12/2018 – Broadcom had its “hold” rating reaffirmed by analysts at Zacks Investment Research. According to Zacks, “Broadcom’s broad-based product portfolio which serves multiple applications to diversified end markets is anticipated to aid it in gaining significant market share. The company is also benefiting from solid demand of its wireless solutions which poises it well to address the needs of rapidly growing technologies like IoT and 5G. Strong ties with leading OEMs across multiple target markets will help the company to gain key insights into the requirements of customers. Nonetheless, the company faces intensifying competition and integration risks due to frequent acquisitions. The company’s leveraged balance sheet and customer concentration continue to be headwinds. Notably, shares of Broadcom have underperformed the industry in the past year.”
  • 11/10/2018 – Broadcom was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 11/8/2018 – Broadcom is now covered by analysts at JPMorgan Chase & Co.. They set an “overweight” rating and a $325.00 price target on the stock.
  • 11/8/2018 – Broadcom was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 11/8/2018 – Broadcom had its “buy” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $310.00 price target on the stock.
  • 11/8/2018 – Broadcom is now covered by analysts at med. They set a “buy” rating and a $310.00 price target on the stock.
  • 10/27/2018 – Broadcom was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 10/5/2018 – Broadcom had its “buy” rating reaffirmed by analysts at Mizuho. They wrote, “We believe multiple tailwinds into 2019-20 with the CA acquisition mostly behind, AI ASICs, regaining RF share, 5G ramps with wireless/Networking, strong FCF and dividend growth positions AVGO well. AVGO provides an attractive opportunity given a dominant market share, ~$6B in buybacks remaining, $8B+ of ~3%+ dividend yield. Reiterating our Buy and raising PT to $295. The shares trade at a conservative ~ 11x F19E EPS.””

Broadcom stock opened at $242.07 on Tuesday. Broadcom Inc has a fifty-two week low of $197.46 and a fifty-two week high of $275.70. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.98 and a quick ratio of 3.42. The company has a market capitalization of $98.16 billion, a P/E ratio of 16.93, a P/E/G ratio of 0.94 and a beta of 1.02.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 6th. The semiconductor manufacturer reported $4.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.82 by $0.16. Broadcom had a net margin of 58.18% and a return on equity of 28.54%. The firm had revenue of $5.06 billion during the quarter, compared to the consensus estimate of $5.06 billion. During the same quarter last year, the firm earned $4.10 EPS. The firm’s revenue for the quarter was up 13.4% on a year-over-year basis. On average, sell-side analysts expect that Broadcom Inc will post 18.09 EPS for the current year.

In related news, insider Kirsten M. Spears sold 1,194 shares of Broadcom 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Thursday, November 15th. The shares were 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 a total of 61,194 shares of company stock valued at $14,266,145 in the last quarter. 3.30% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the stock. Massey Quick Simon & CO. LLC acquired a new position in shares of Broadcom in the second quarter worth $104,000. Zions Bancorporation acquired a new position in shares of Broadcom in the second quarter worth $109,000. MUFG Americas Holdings Corp acquired a new position in shares of Broadcom in the second quarter worth $109,000. MUFG Securities EMEA plc acquired a new position in shares of Broadcom in the second quarter worth $117,000. Finally, First Personal Financial Services acquired a new position in shares of Broadcom in the second quarter worth $126,000. Hedge funds and other institutional investors own 85.22% 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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