1 week Ago By ABMN Staff
Broadcom ( NASDAQ:AVGO – Get Free Report ) had its price target lifted by stock analysts at The Goldman Sachs Group from $185.00 to $190.00 in a note issued to investors on Friday, Benzinga reports.
The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. The Goldman Sachs Group’s price target suggests a potential upside of 38.69% from the company’s current price.
A number of other research analysts have also recently issued reports on the company. StockNews.com cut Broadcom from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd.
Wells Fargo & Company lifted their price target on Broadcom from $143.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 13th.
Melius Research initiated coverage on shares of Broadcom in a research report on Monday, June 3rd. They set a “buy” rating and a $185.00 price objective on the stock.
Cantor Fitzgerald lifted their target price on shares of Broadcom from $187.50 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th.
Finally, TD Cowen upped their target price on shares of Broadcom from $175.00 to $210.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th.
Two equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $189.38.
Get Our Latest Stock Report on Broadcom Broadcom Stock Down 10.4 % Broadcom ( NASDAQ:AVGO – Get Free Report ) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.
24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04.
Broadcom had a net margin of 24.10% and a return on equity of 35.82%.
The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion.
During the same quarter in the prior year, the company earned $0.95 earnings per share. The business’s revenue was up 47.
3% compared to the same quarter last year. On average, equities analysts predict that Broadcom will post 3.74 EPS for the current fiscal year.
Insider Transactions at Broadcom In related news, CEO Hock E. Tan sold 7,502 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $1,705.
95, for a total transaction of $12,798,036.90. Following the completion of the sale, the chief executive officer now directly owns 138,191 shares in the company, valued at $235,746,936.
45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link . In related news, CEO Hock E.
Tan sold 7,502 shares of Broadcom stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $1,705.95, for a total transaction of $12,798,036.
90. Following the transaction, the chief executive officer now directly owns 138,191 shares in the company, valued at $235,746,936.45.
The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website . Also, Director Justine Page sold 2,540 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $175.
03, for a total value of $444,566.04. Following the sale, the director now directly owns 27,480 shares of the company’s stock, valued at approximately $4,809,714.
48. The disclosure for this sale can be found here . Company insiders own 2.
00% of the company’s stock. Institutional Investors Weigh In On Broadcom A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legend Financial Advisors Inc.
raised its position in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc.
now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the period. Richardson Capital Management LLC bought a new stake in Broadcom during the first quarter valued at about $29,000. Delta Asset Management LLC TN lifted its position in shares of Broadcom by 242.
9% in the first quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares in the last quarter. Redmont Wealth Advisors LLC purchased a new position in shares of Broadcom in the first quarter valued at about $36,000.
Finally, Ulland Investment Advisors LLC bought a new position in shares of Broadcom in the first quarter worth about $37,000. Institutional investors own 76.43% of the company’s stock.
Broadcom Company Profile ( Get Free Report ) Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software. Featured Articles Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.
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