Shares of Broadcom Inc (NASDAQ:AVGO) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $280.39 and last traded at $277.77, with a volume of 997709 shares. The stock had previously closed at $275.72.
Several analysts recently weighed in on AVGO shares. Morgan Stanley decreased their target price on Broadcom from $265.00 to $261.00 and set an “equal weight” rating for the company in a research note on Monday, January 7th. BidaskClub downgraded Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 5th. Wells Fargo & Co restated a “market perform” rating and set a $265.00 target price on shares of Broadcom in a research note on Wednesday, November 28th. Deutsche Bank restated a “buy” rating and set a $310.00 target price on shares of Broadcom in a research note on Thursday, November 8th. Finally, ValuEngine upgraded Broadcom from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. Nine equities research analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $288.93.
The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41. The firm has a market cap of $111.73 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.24 and a beta of 0.72.
In other news, insider Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $228.94, for a total value of $4,578,800.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Thomas H. Krause sold 22,500 shares of the stock in a transaction that occurred on Thursday, December 13th. The stock was sold at an average price of $257.08, for a total value of $5,784,300.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,723 shares of company stock valued at $24,926,174. 3.30% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of AVGO. Ruggie Capital Group acquired a new stake in Broadcom during the 4th quarter valued at $25,000. AlphaOne Investment Services LLC acquired a new stake in Broadcom during the 4th quarter valued at $25,000. Accurate Investment Solutions Inc. acquired a new stake in Broadcom during the 4th quarter valued at $25,000. Advisors Preferred LLC acquired a new stake in Broadcom during the 4th quarter valued at $32,000. Finally, Karp Capital Management Corp acquired a new stake in Broadcom during the 4th quarter valued at $36,000. 89.34% of the stock is owned by institutional investors and hedge funds.
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Broadcom Company Profile (NASDAQ:AVGO)
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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