Broadcom (NASDAQ:AVGO) Sets New 12-Month High at $325.52

Share on StockTwits

Broadcom Inc (NASDAQ:AVGO)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $325.52 and last traded at $317.82, with a volume of 82187 shares changing hands. The stock had previously closed at $311.07.

Several equities analysts recently commented on the stock. Oppenheimer set a $315.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research report on Friday, September 13th. Mizuho reissued a “buy” rating and set a $340.00 price target (up from $330.00) on shares of Broadcom in a research report on Friday, September 13th. Loop Capital lowered shares of Broadcom from a “buy” rating to a “hold” rating in a research report on Friday, September 13th. Cascend Securities raised their price target on shares of Broadcom from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Tuesday, September 10th. Finally, Daiwa Capital Markets lowered shares of Broadcom from a “buy” rating to a “neutral” rating in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Broadcom presently has an average rating of “Buy” and an average price target of $316.88.

The company has a current ratio of 1.32, a quick ratio of 1.18 and a debt-to-equity ratio of 1.58. The stock has a market capitalization of $124.12 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.36 and a beta of 0.90. The firm’s fifty day moving average price is $291.82 and its two-hundred day moving average price is $285.05.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, September 12th. The semiconductor manufacturer reported $3.99 earnings per share for the quarter, missing the consensus estimate of $4.10 by ($0.11). The firm had revenue of $5.52 billion for the quarter, compared to analysts’ expectations of $5.52 billion. Broadcom had a net margin of 13.44% and a return on equity of 34.10%. Broadcom’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period last year, the firm earned $4.98 earnings per share. As a group, sell-side analysts anticipate that Broadcom Inc will post 16.97 earnings per share for the current fiscal year.

In related news, insider Mark David Brazeal sold 2,000 shares of Broadcom stock in a transaction on Friday, October 11th. The shares were sold at an average price of $289.43, for a total value of $578,860.00. Also, CEO Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $289.43, for a total transaction of $5,788,600.00. Insiders sold a total of 42,000 shares of company stock worth $12,141,660 in the last three months. 3.30% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its stake in Broadcom by 14.5% in the 3rd quarter. Cetera Investment Advisers now owns 5,250 shares of the semiconductor manufacturer’s stock valued at $1,450,000 after acquiring an additional 664 shares during the period. First Allied Advisory Services Inc. grew its stake in Broadcom by 0.5% in the 3rd quarter. First Allied Advisory Services Inc. now owns 9,017 shares of the semiconductor manufacturer’s stock valued at $2,502,000 after acquiring an additional 45 shares during the period. Cetera Advisors LLC grew its stake in Broadcom by 14.3% in the 3rd quarter. Cetera Advisors LLC now owns 4,019 shares of the semiconductor manufacturer’s stock valued at $1,115,000 after acquiring an additional 503 shares during the period. Cetera Advisor Networks LLC grew its stake in Broadcom by 11.3% in the 3rd quarter. Cetera Advisor Networks LLC now owns 4,844 shares of the semiconductor manufacturer’s stock valued at $1,342,000 after acquiring an additional 490 shares during the period. Finally, Miracle Mile Advisors LLC grew its stake in Broadcom by 20.7% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,097 shares of the semiconductor manufacturer’s stock valued at $579,000 after acquiring an additional 359 shares during the period. 84.73% of the stock is currently owned by hedge funds and other institutional investors.

About Broadcom (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.

Read More: How to Invest in Growth Stocks

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.



Latest News

Brokerages Expect Goodrich Petroleum Corporation  to Post $0.29 Earnings Per Share
Brokerages Expect Goodrich Petroleum Corporation to Post $0.29 Earnings Per Share
Zacks: Analysts Anticipate QuickLogic Co.  Will Post Quarterly Sales of $2.90 Million
Zacks: Analysts Anticipate QuickLogic Co. Will Post Quarterly Sales of $2.90 Million
Oasis Petroleum  Stock Price Down 0.9%
Oasis Petroleum Stock Price Down 0.9%
Cypress Semiconductor  Reaches New 52-Week High at $23.54
Cypress Semiconductor Reaches New 52-Week High at $23.54
Mersana Therapeutics  Stock Price Up 1.6%
Mersana Therapeutics Stock Price Up 1.6%
Fission 3.0  Sets New 1-Year Low at $0.05
Fission 3.0 Sets New 1-Year Low at $0.05


© 2006-2019 Ticker Report