Broadcom (AVGO) PT Raised to $325.00 at Craig Hallum

Broadcom (NASDAQ:AVGO) had its price objective raised by research analysts at Craig Hallum from $305.00 to $325.00 in a research note issued on Friday, The Fly reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Craig Hallum’s price objective indicates a potential upside of 11.96% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. MKM Partners lifted their price objective on Broadcom from $255.00 to $280.00 and gave the company a “buy” rating in a report on Friday, December 7th. UBS Group lowered their price objective on Broadcom from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, December 7th. Charter Equity raised Broadcom from a “market perform” rating to a “buy” rating in a report on Friday, December 7th. Credit Suisse Group reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Broadcom in a report on Wednesday, December 5th. Finally, BidaskClub lowered Broadcom from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 4th. Ten investment analysts have rated the stock with a hold rating and thirty-one have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $295.36.

NASDAQ AVGO opened at $290.29 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.41 and a current ratio of 3.90. Broadcom has a 52-week low of $197.46 and a 52-week high of $286.63. The stock has a market cap of $106.80 billion, a P/E ratio of 15.42, a P/E/G ratio of 1.22 and a beta of 0.67.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.32 by $1.23. Broadcom had a return on equity of 29.03% and a net margin of 58.80%. The firm had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same quarter last year, the company posted $5.12 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. Analysts predict that Broadcom will post 18.59 earnings per share for the current fiscal year.

In related news, Director Donald Macleod sold 5,223 shares of Broadcom stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $233.65, for a total transaction of $1,220,353.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Tuesday, January 15th. The stock was sold at an average price of $254.99, for a total value of $5,099,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 45,223 shares of company stock valued at $11,449,554 over the last 90 days. Insiders own 3.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Broadcom by 6.6% during the 3rd quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after purchasing an additional 2,094,847 shares during the last quarter. Vanguard Group Inc raised its position in shares of Broadcom by 6.6% during the 3rd quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock worth $8,298,223,000 after purchasing an additional 2,094,847 shares during the last quarter. Capital International Investors raised its position in shares of Broadcom by 504.1% during the 3rd quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock worth $6,787,485,000 after purchasing an additional 22,955,578 shares during the last quarter. BlackRock Inc. raised its position in shares of Broadcom by 0.8% during the 3rd quarter. BlackRock Inc. now owns 25,930,258 shares of the semiconductor manufacturer’s stock worth $6,397,772,000 after purchasing an additional 209,280 shares during the last quarter. Finally, Capital Research Global Investors raised its position in shares of Broadcom by 16.3% during the 3rd quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock worth $6,339,659,000 after purchasing an additional 3,608,395 shares during the last quarter. Hedge funds and other institutional investors own 83.49% of the company’s stock.

About Broadcom

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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