Broadcom Limited (AVGO) Stock Rating Reaffirmed by Mizuho

Broadcom Limited (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by equities research analysts at Mizuho in a report issued on Sunday. They currently have a $290.00 target price on the semiconductor manufacturer’s stock. Mizuho’s price target would indicate a potential upside of 17.69% from the company’s current price.

Several other brokerages also recently issued reports on AVGO. Vetr upgraded Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 price target for the company in a report on Monday, August 28th. Royal Bank Of Canada reiterated a “buy” rating and issued a $285.00 price target (up from $270.00) on shares of Broadcom Limited in a report on Saturday, August 26th. UBS AG reiterated a “buy” rating and issued a $265.00 price target on shares of Broadcom Limited in a report on Monday, June 26th. B. Riley reiterated a “buy” rating and issued a $305.00 price target on shares of Broadcom Limited in a report on Thursday, August 31st. Finally, BidaskClub downgraded Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. 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 stock. The stock currently has a consensus rating of “Buy” and an average price target of $276.80.

Shares of Broadcom Limited (NASDAQ:AVGO) opened at 246.42 on Friday. The firm has a market capitalization of $100.53 billion, a PE ratio of 187.68 and a beta of 1.08. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36. The stock has a 50 day moving average price of $245.85 and a 200-day moving average price of $238.90.

Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.07. The business 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%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.89 EPS. Equities analysts anticipate that Broadcom Limited will post $15.91 earnings per share for the current year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Broadcom Limited by 3.0% during 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. raised its holdings in shares of Broadcom Limited by 3.5% during 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 raised its holdings in shares of Broadcom Limited by 1.6% during 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. raised its holdings in shares of Broadcom Limited by 18.2% during 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 raised its holdings in shares of Broadcom Limited by 29.3% during the first quarter. Wellington

Several other brokerages also recently issued reports on AVGO. Vetr upgraded Broadcom Limited from a “hold” rating to a “buy” rating and set a $261.95 price target for the company in a report on Monday, August 28th. Royal Bank Of Canada reiterated a “buy” rating and issued a $285.00 price target (up from $270.00) on shares of Broadcom Limited in a report on Saturday, August 26th. UBS AG reiterated a “buy” rating and issued a $265.00 price target on shares of Broadcom Limited in a report on Monday, June 26th. B. Riley reiterated a “buy” rating and issued a $305.00 price target on shares of Broadcom Limited in a report on Thursday, August 31st. Finally, BidaskClub downgraded Broadcom Limited from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. 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 stock. The stock currently has a consensus rating of “Buy” and an average price target of $276.80.

Shares of Broadcom Limited (NASDAQ:AVGO) opened at 246.42 on Friday. The firm has a market capitalization of $100.53 billion, a PE ratio of 187.68 and a beta of 1.08. Broadcom Limited has a 52 week low of $160.62 and a 52 week high of $259.36. The stock has a 50 day moving average price of $245.85 and a 200-day moving average price of $238.90.

Broadcom Limited (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $4.03 by $0.07. The business 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%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.89 EPS. Equities analysts anticipate that Broadcom Limited will post $15.91 earnings per share for the current year.

WARNING: This piece of content was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://ledgergazette.com/2017/10/10/broadcom-limited-avgo-stock-rating-reaffirmed-by-mizuho.html.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Broadcom Limited by 3.0% during 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. raised its holdings in shares of Broadcom Limited by 3.5% during 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 raised its holdings in shares of Broadcom Limited by 1.6% during 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. raised its holdings in shares of Broadcom Limited by 18.2% during 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 raised its holdings in shares of Broadcom Limited by 29.3% during 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. 89.71% of the stock is currently owned by institutional investors.

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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