Broadcom Limited (AVGO) Given “Buy” Rating at Bank of America Corporation

Bank of America Corporation reissued their buy rating on shares of Broadcom Limited (NASDAQ:AVGO) in a report published on Friday. The firm currently has a $300.00 price target on the semiconductor manufacturer’s stock.

AVGO has been the subject of a number of other reports. Deutsche Bank AG raised their price target on Broadcom Limited from $275.00 to $295.00 and gave the stock a buy rating in a research report on Friday, August 25th. Vetr downgraded Broadcom Limited from a buy rating to a hold rating and set a $261.95 price target for the company. in a research report on Monday, September 4th. B. Riley reiterated an avgo ( rating and set a $305.00 target price on shares of Broadcom Limited in a research report on Monday, August 21st. Drexel Hamilton reiterated a buy rating and set a $292.00 target price on shares of Broadcom Limited in a research report on Saturday, August 26th. Finally, BidaskClub upgraded Broadcom Limited from a buy rating to a strong-buy rating in a research report on Friday, August 25th. One research analyst has rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. Broadcom Limited currently has a consensus rating of Buy and a consensus price target of $276.80.

Shares of Broadcom Limited (NASDAQ AVGO) opened at 246.42 on Friday. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36. The company’s 50-day moving average is $245.85 and its 200-day moving average is $238.90. The company has a market capitalization of $100.53 billion, a price-to-earnings ratio of 187.68 and a beta of 1.08.

Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.07. The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. Broadcom Limited’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the company earned $2.89 earnings per share. Analysts predict that Broadcom Limited will post $15.91 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.66%. Broadcom Limited’s payout ratio is 348.72%.

In related news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $246.48, for a total value of $4,929,600.00. The disclosure for this sale can be found here. Insiders have sold 61,788 shares of company stock worth $15,098,237 in the last 90 days. Insiders own 3.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Broadcom Limited by 3.0% in the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock valued at $6,423,271,000 after buying an additional 793,335 shares during the last quarter. BlackRock Inc. boosted its position in Broadcom Limited by 3.5% in the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock valued at $5,577,099,000 after buying an additional 798,982 shares during the last quarter. State Street Corp boosted its position in Broadcom Limited by 1.6% in the second quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock valued at $3,742,946,000 after buying an additional 255,044 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Broadcom Limited by 18.2% in the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after buying an additional 1,338,695 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s

AVGO has been the subject of a number of other reports. Deutsche Bank AG raised their price target on Broadcom Limited from $275.00 to $295.00 and gave the stock a buy rating in a research report on Friday, August 25th. Vetr downgraded Broadcom Limited from a buy rating to a hold rating and set a $261.95 price target for the company. in a research report on Monday, September 4th. B. Riley reiterated an avgo ( rating and set a $305.00 target price on shares of Broadcom Limited in a research report on Monday, August 21st. Drexel Hamilton reiterated a buy rating and set a $292.00 target price on shares of Broadcom Limited in a research report on Saturday, August 26th. Finally, BidaskClub upgraded Broadcom Limited from a buy rating to a strong-buy rating in a research report on Friday, August 25th. One research analyst has rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company’s stock. Broadcom Limited currently has a consensus rating of Buy and a consensus price target of $276.80.

Shares of Broadcom Limited (NASDAQ AVGO) opened at 246.42 on Friday. Broadcom Limited has a 12-month low of $160.62 and a 12-month high of $259.36. The company’s 50-day moving average is $245.85 and its 200-day moving average is $238.90. The company has a market capitalization of $100.53 billion, a price-to-earnings ratio of 187.68 and a beta of 1.08.

Broadcom Limited (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.03 by $0.07. The company had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. Broadcom Limited had a return on equity of 26.82% and a net margin of 3.12%. Broadcom Limited’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the company earned $2.89 earnings per share. Analysts predict that Broadcom Limited will post $15.91 EPS for the current year.

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The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were paid a dividend of $1.02 per share. The ex-dividend date of this dividend was Monday, September 18th. This represents a $4.08 dividend on an annualized basis and a dividend yield of 1.66%. Broadcom Limited’s payout ratio is 348.72%.

In related news, SVP Bryan Ingram sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $246.48, for a total value of $4,929,600.00. The disclosure for this sale can be found here. Insiders have sold 61,788 shares of company stock worth $15,098,237 in the last 90 days. Insiders own 3.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in Broadcom Limited by 3.0% in the second quarter. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer’s stock valued at $6,423,271,000 after buying an additional 793,335 shares during the last quarter. BlackRock Inc. boosted its position in Broadcom Limited by 3.5% in the second quarter. BlackRock Inc. now owns 23,930,917 shares of the semiconductor manufacturer’s stock valued at $5,577,099,000 after buying an additional 798,982 shares during the last quarter. State Street Corp boosted its position in Broadcom Limited by 1.6% in the second quarter. State Street Corp now owns 16,060,697 shares of the semiconductor manufacturer’s stock valued at $3,742,946,000 after buying an additional 255,044 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Broadcom Limited by 18.2% in the second quarter. Ameriprise Financial Inc. now owns 8,704,177 shares of the semiconductor manufacturer’s stock valued at $2,028,442,000 after buying an additional 1,338,695 shares during the last quarter. Finally, Wellington Management Group LLP boosted its position in Broadcom Limited by 29.3% in the first quarter. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer’s stock valued at $1,469,388,000 after buying an additional 1,519,598 shares during the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

About Broadcom Limited

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)

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