Broadcom Limited’s (AVGO) “Outperform” Rating Reiterated at Sanford C. Bernstein

Sanford C. Bernstein reaffirmed their outperform rating on shares of Broadcom Limited (NASDAQ:AVGO) in a research report released on Tuesday. Sanford C. Bernstein currently has a $285.00 price target on the semiconductor manufacturer’s stock.

A number of other research analysts have also commented on AVGO. UBS AG reiterated a buy rating and issued a $265.00 price target on shares of Broadcom Limited in a research note on Monday, June 26th. B. Riley reiterated a buy rating and issued a $305.00 price target on shares of Broadcom Limited in a research note on Saturday, August 26th. Vetr upgraded shares of Broadcom Limited from a hold rating to a buy rating and set a $258.25 price target on the stock in a research note on Monday, August 14th. BidaskClub lowered shares of Broadcom Limited from a strong-buy rating to a buy rating in a research note on Friday, August 11th. Finally, Bank of America Corporation reiterated a buy rating and issued a $300.00 price target on shares of Broadcom Limited in a research note on Friday, October 6th. One investment analyst has rated the stock with a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $276.93.

Broadcom Limited (AVGO) traded up 0.45% during mid-day trading on Tuesday, reaching $249.86. The company’s stock had a trading volume of 505,199 shares. The stock has a market capitalization of $101.94 billion, a price-to-earnings ratio of 190.30 and a beta of 1.08. The firm has a 50-day moving average of $245.37 and a 200-day moving average of $239.25. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36.

Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the Zacks’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $4.46 billion. During the same quarter in the prior year, the business earned $2.89 EPS. Broadcom Limited’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities research analysts expect that Broadcom Limited will post $15.91 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This story was first published by Ticker Report and is owned by of Ticker Report. If you are reading this story on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this story can be viewed at https://www.tickerreport.com/banking-finance/2957763/broadcom-limiteds-avgo-outperform-rating-reiterated-at-sanford-c-bernstein.html.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were given a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.64%. The ex-dividend date was Monday, September 18th. Broadcom Limited’s dividend payout ratio (DPR) is currently 348.72%.

In other news, SVP Charlie B. Kawwas sold 1,788 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bryan Ingram sold 30,000 shares of the stock in a transaction on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,788 shares of company stock valued at $15,098,237. 3.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of AVGO. BlackRock Inc. boosted its stake in Broadcom Limited by 2,707.3% during the first quarter. BlackRock Inc. now owns 23,131,935 shares of the semiconductor manufacturer’s stock worth $5,064,971,000 after acquiring an additional 22,307,935 shares in the last quarter. Vanguard Group Inc. boosted its stake in Broadcom Limited by 7.0% during the first quarter. Vanguard Group Inc. now owns 26,768,435 shares of the semiconductor manufacturer’s stock worth $5,861,217,000 after acquiring an additional 1,746,144 shares in the last quarter. Harbour Capital Advisors LLC boosted its stake in Broadcom Limited by 22,924.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,530,905 shares of the semiconductor manufacturer’s stock worth $6,569,000 after acquiring an additional 1,524,256 shares in the last quarter. Wellington Management Group LLP boosted its stake in Broadcom Limited by 29.3% during the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock worth $1,469,388,000 after acquiring an additional 1,519,598 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Broadcom Limited by 18.2% during the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock worth $2,028,442,000 after acquiring an additional 1,338,695 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Limited Company Profile

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Analyst Recommendations for Broadcom Limited (NASDAQ:AVGO)

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

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.