Broadcom (AVGO) Price Target Raised to $275.00 at Barclays

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Broadcom (NASDAQ:AVGO) had its price objective upped by analysts at Barclays from $265.00 to $275.00 in a research note issued to investors on Friday, The Fly reports. The firm presently has an “overweight” rating on the semiconductor manufacturer’s stock. Barclays‘s target price would indicate a potential upside of 2.54% from the company’s current price.

Other equities analysts have also issued research reports about the stock. UBS Group decreased their price target on shares of Broadcom from $300.00 to $275.00 and set a “buy” rating for the company in a report on Friday, December 7th. Craig Hallum reissued a “buy” rating and issued a $305.00 price target (up previously from $300.00) on shares of Broadcom in a report on Friday, December 7th. Charter Equity raised shares of Broadcom from a “market perform” rating to a “buy” rating in a report on Friday, December 7th. Credit Suisse Group reissued a “buy” rating and issued a $300.00 price target on shares of Broadcom in a report on Wednesday, December 5th. Finally, BidaskClub lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 4th. Ten analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $283.36.

Shares of Broadcom stock opened at $268.20 on Friday. The firm has a market cap of $106.80 billion, a price-to-earnings ratio of 14.24, a price-to-earnings-growth ratio of 1.22 and a beta of 0.67. Broadcom has a 52 week low of $197.46 and a 52 week high of $286.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.23 by $0.32. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The company had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same quarter in the previous year, the business earned $5.12 EPS. The firm’s revenue was up 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Broadcom will post 18.59 EPS for the current year.

In other news, Director Donald Macleod sold 5,223 shares of the stock in a transaction dated Monday, January 7th. The shares were sold at an average price of $233.65, for a total transaction of $1,220,353.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction dated Monday, December 17th. The stock was sold at an average price of $256.47, for a total transaction of $5,129,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 45,223 shares of company stock valued at $11,449,554. Company insiders own 3.30% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Broadcom by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares during the period. Vanguard Group Inc raised its holdings in shares of Broadcom by 6.6% in the 3rd quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares during the period. Capital International Investors raised its holdings in shares of Broadcom by 504.1% in the 3rd quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock valued at $6,787,485,000 after purchasing an additional 22,955,578 shares during the period. BlackRock Inc. raised its holdings in shares of Broadcom by 0.8% in the 3rd quarter. BlackRock Inc. now owns 25,930,258 shares of the semiconductor manufacturer’s stock valued at $6,397,772,000 after purchasing an additional 209,280 shares during the period. Finally, Capital Research Global Investors raised its holdings in shares of Broadcom by 16.3% in the 3rd quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock valued at $6,339,659,000 after purchasing an additional 3,608,395 shares during the period. Institutional investors own 83.49% of the company’s stock.

About Broadcom

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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The Fly

Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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