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.
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.
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