Broadcom (AVGO) Rating Reiterated by Raymond James Financial

Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by equities research analysts at Raymond James Financial in a note issued to investors on Monday. They currently have a $335.00 target price on the semiconductor manufacturer’s stock. Raymond James Financial’s target price suggests a potential upside of 28.03% from the stock’s previous close.

Several other equities analysts have also recently weighed in on the company. Barclays boosted their price objective on Broadcom from $290.00 to $300.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 18th. B. Riley boosted their price objective on Broadcom from $305.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, November 2nd. Vetr cut Broadcom from a “buy” rating to a “hold” rating and set a $261.95 price objective for the company. in a research report on Monday, September 4th. Zacks Investment Research raised Broadcom from a “hold” rating to a “buy” rating and set a $272.00 price objective for the company in a research report on Tuesday, August 29th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $290.00 price target on shares of Broadcom in a report on Tuesday, October 17th. Five equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $291.42.

Broadcom (NASDAQ AVGO) opened at $261.65 on Monday. Broadcom has a 12-month low of $163.45 and a 12-month high of $285.68. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.84 and a current ratio of 4.48. The firm has a market capitalization of $110,790.88, a PE ratio of 20.53, a P/E/G ratio of 1.30 and a beta of 1.05.

In related news, CFO Thomas H. Krause sold 2,595 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $267.34, for a total transaction of $693,747.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $260.03, for a total value of $5,200,600.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,383 shares of company stock worth $25,949,184. 3.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Quantitative Systematic Strategies LLC boosted its position in Broadcom by 348.3% in the 3rd quarter. Quantitative Systematic Strategies LLC now owns 4,335 shares of the semiconductor manufacturer’s stock valued at $1,051,000 after buying an additional 3,368 shares during the last quarter. Alps Advisors Inc. bought a new position in Broadcom in the 2nd quarter valued at $221,000. Osborne Partners Capital Management LLC boosted its position in Broadcom by 5.5% in the 3rd quarter. Osborne Partners Capital Management LLC now owns 9,531 shares of the semiconductor manufacturer’s stock valued at $2,312,000 after buying an additional 499 shares during the last quarter. Principal Financial Group Inc. boosted its position in Broadcom by 14.4% in the 2nd quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock valued at $155,459,000 after buying an additional 83,929 shares during the last quarter. Finally, DSAM Partners London Ltd boosted its position in Broadcom by 103.4% in the 2nd quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock valued at $43,048,000 after buying an additional 93,890 shares during the last quarter. Hedge funds and other institutional investors own 88.99% of the company’s stock.

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About Broadcom

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 (NASDAQ:AVGO)

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