Broadcom (NASDAQ:AVGO) Price Target Cut to $280.00 by Analysts at Robert W. Baird

Broadcom (NASDAQ:AVGO) had its target price dropped by Robert W. Baird from $300.00 to $280.00 in a research report issued on Monday, BenzingaRatingsTable reports. The brokerage currently has an “outperform” rating on the semiconductor manufacturer’s stock. Robert W. Baird’s price target would suggest a potential upside of 4.46% from the stock’s previous close.

AVGO has been the topic of several other research reports. ValuEngine lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Monday, May 13th. Mizuho lifted their price target on Broadcom from $295.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. Deutsche Bank lifted their price target on Broadcom from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. KeyCorp cut their price target on Broadcom from $350.00 to $310.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $350.00 price target on shares of Broadcom in a research report on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $297.06.

Shares of NASDAQ AVGO traded up $2.11 during midday trading on Monday, hitting $268.04. 180,403 shares of the company’s stock were exchanged, compared to its average volume of 3,501,010. The company has a debt-to-equity ratio of 1.53, a quick ratio of 1.13 and a current ratio of 1.26. Broadcom has a twelve month low of $197.46 and a twelve month high of $323.20. The company has a market cap of $105.27 billion, a P/E ratio of 14.23, a PEG ratio of 1.20 and a beta of 0.87. The firm has a fifty day simple moving average of $284.76.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share for the quarter, topping the consensus estimate of $5.18 by $0.03. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter last year, the company earned $4.88 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts anticipate that Broadcom will post 17.55 EPS for the current fiscal year.

In other Broadcom news, insider Kirsten M. Spears sold 4,000 shares of Broadcom stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $306.31, for a total value of $1,225,240.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $295.05, for a total value of $2,950,500.00. The disclosure for this sale can be found here. Insiders sold a total of 67,824 shares of company stock worth $20,565,519 over the last quarter. Company insiders own 3.30% of the company’s stock.

Several institutional investors have recently bought and sold shares of AVGO. AlphaOne Investment Services LLC purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $25,000. First Financial Corp IN purchased a new stake in shares of Broadcom in the first quarter valued at approximately $30,000. Daiwa SB Investments Ltd. purchased a new stake in shares of Broadcom in the first quarter valued at approximately $30,000. CX Institutional boosted its stake in shares of Broadcom by 555.6% in the first quarter. CX Institutional now owns 118 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 100 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new stake in shares of Broadcom in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 84.39% of the company’s stock.

Broadcom Company Profile

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.

Featured Story: Return on Investment (ROI)

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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


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