Broadcom (AVGO) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Broadcom (NASDAQ:AVGO) from a strong sell rating to a sell rating in a report published on Wednesday.

Other analysts have also recently issued reports about the company. Nomura reissued a buy rating and set a $300.00 target price (up from $273.63) on shares of Broadcom in a research note on Monday, November 6th. Jefferies Group increased their target price on Broadcom from $70.00 to $315.00 and gave the stock a buy rating in a research note on Monday, November 6th. Royal Bank of Canada reissued a buy rating on shares of Broadcom in a research note on Friday, November 3rd. JPMorgan Chase & Co. reissued a buy rating and set a $315.00 target price on shares of Broadcom in a research note on Friday, November 3rd. Finally, B. Riley increased their target price on Broadcom from $305.00 to $315.00 and gave the stock a buy rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $301.33.

Shares of Broadcom (NASDAQ:AVGO) opened at $237.38 on Wednesday. Broadcom has a 52 week low of $202.61 and a 52 week high of $285.68. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.68 and a current ratio of 6.26. The stock has a market capitalization of $98,508.30, a P/E ratio of 16.69, a P/E/G ratio of 1.00 and a beta of 0.88.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Wednesday, December 6th. The semiconductor manufacturer reported $4.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.52 by $0.07. Broadcom had a return on equity of 28.64% and a net margin of 10.18%. The business had revenue of $4.84 billion during the quarter, compared to analysts’ expectations of $4.84 billion. During the same period in the prior year, the business earned $3.47 EPS. Broadcom’s revenue for the quarter was up 17.1% compared to the same quarter last year. analysts anticipate that Broadcom will post 17.41 earnings per share for the current year.

In other news, insider Hock E. Tan sold 20,789 shares of the stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $259.85, for a total value of $5,402,021.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas H. Krause sold 2,595 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $267.34, for a total value of $693,747.30. The disclosure for this sale can be found here. In the last three months, insiders sold 86,674 shares of company stock valued at $22,659,390. 3.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mountain Capital Investment Advisors Inc acquired a new stake in Broadcom during the 2nd quarter valued at $113,000. AllSquare Wealth Management LLC acquired a new stake in Broadcom during the 3rd quarter valued at $113,000. SeaCrest Wealth Management LLC acquired a new stake in Broadcom during the 4th quarter valued at $124,000. Tower Research Capital LLC TRC lifted its holdings in Broadcom by 473.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 573 shares of the semiconductor manufacturer’s stock valued at $134,000 after purchasing an additional 473 shares during the last quarter. Finally, Carroll Financial Associates Inc. lifted its holdings in Broadcom by 59.0% during the 3rd quarter. Carroll Financial Associates Inc. now owns 593 shares of the semiconductor manufacturer’s stock valued at $144,000 after purchasing an additional 220 shares during the last quarter. 88.54% of the stock is owned by institutional investors.

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Broadcom Company Profile

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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