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.
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.
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