Broadcom (NASDAQ:AVGO) Upgraded by ValuEngine to Hold

Share on StockTwits

Broadcom (NASDAQ:AVGO) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, ValuEngine reports.

Several other analysts have also recently commented on the stock. KeyCorp raised their price objective on shares of Broadcom from $340.00 to $360.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Oppenheimer raised their price objective on shares of Broadcom from $315.00 to $350.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. BidaskClub cut shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday, January 18th. Piper Jaffray Companies reiterated a “buy” rating and issued a $345.00 price objective (up previously from $330.00) on shares of Broadcom in a research note on Tuesday, December 10th. Finally, Cascend Securities raised their price objective on shares of Broadcom from $330.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Nine investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $334.10.

Shares of NASDAQ AVGO opened at $309.03 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 1.44 and a debt-to-equity ratio of 1.58. Broadcom has a 52 week low of $250.09 and a 52 week high of $331.58. The firm has a 50-day moving average price of $314.66 and a 200 day moving average price of $296.77. The stock has a market capitalization of $128.88 billion, a price-to-earnings ratio of 47.99, a price-to-earnings-growth ratio of 1.57 and a beta of 0.90.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $5.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.35 by $0.04. Broadcom had a net margin of 12.06% and a return on equity of 46.16%. The firm had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.74 billion. During the same quarter last year, the business earned $5.85 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities research analysts expect that Broadcom will post 19.3 EPS for the current fiscal year.

In other Broadcom news, CEO Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $319.82, for a total transaction of $6,396,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 251,146 shares of company stock valued at $77,974,726 over the last 90 days. 3.30% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. Marquette Asset Management LLC purchased a new stake in shares of Broadcom during the third quarter worth about $28,000. Peddock Capital Advisors LLC purchased a new stake in shares of Broadcom during the fourth quarter worth about $32,000. Garrett Wealth Advisory Group LLC purchased a new stake in shares of Broadcom during the third quarter worth about $28,000. Ellis Investment Partners LLC grew its holdings in shares of Broadcom by 55.7% during the third quarter. Ellis Investment Partners LLC now owns 123 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 44 shares in the last quarter. Finally, Manchester Financial Inc. purchased a new stake in shares of Broadcom during the fourth quarter worth about $68,000. Hedge funds and other institutional investors own 83.21% 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 Article: Most Volatile Stocks

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.



Latest News

Fiera Capital Corp Invests $1.09 Million in Pinterest
Fiera Capital Corp Invests $1.09 Million in Pinterest
Fiera Capital Corp Sells 468,443 Shares of iShares MSCI Saudi Arabia Capped ETF
Fiera Capital Corp Sells 468,443 Shares of iShares MSCI Saudi Arabia Capped ETF
Yamana Gold Inc.  Senior Officer Richard Campbell Sells 13,050 Shares
Yamana Gold Inc. Senior Officer Richard Campbell Sells 13,050 Shares
Fiera Capital Corp Reduces Holdings in Activision Blizzard, Inc.
Fiera Capital Corp Reduces Holdings in Activision Blizzard, Inc.
Fiera Capital Corp Sells 7,525 Shares of Lincoln Electric Holdings, Inc.
Fiera Capital Corp Sells 7,525 Shares of Lincoln Electric Holdings, Inc.
Vanguard S&P Small-Cap 600 ETF  Stock Holdings Lowered by Fiera Capital Corp
Vanguard S&P Small-Cap 600 ETF Stock Holdings Lowered by Fiera Capital Corp


© 2006-2020 Ticker Report