Broadcom (AVGO) Reaches New 52-Week High at $280.39

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.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 6th. The semiconductor manufacturer reported $5.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.58 by $0.27. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The business had revenue of $5.45 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the firm posted $4.59 EPS. Broadcom’s quarterly revenue was up 12.4% compared to the same quarter last year. As a group, equities research analysts predict that Broadcom Inc will post 18.59 earnings per share for the current year.

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.

TRADEMARK VIOLATION NOTICE: “Broadcom (AVGO) Reaches New 52-Week High at $280.39” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://www.com-unik.info/2019/02/12/broadcom-avgo-reaches-new-52-week-high-at-280-39.html.

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.

Recommended Story: How Investors Can Profit from Options Trading

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


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