Broadcom (NASDAQ:AVGO) had its target price lowered by equities research analysts at Morgan Stanley from $265.00 to $261.00 in a research report issued to clients and investors on Monday, January 7th. The brokerage presently has an “equal weight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s price objective would indicate a potential upside of 4.16% from the company’s current price.
A number of other equities research analysts have also recently commented on the stock. Wells Fargo & Co reiterated a “market perform” rating and issued a $265.00 target price on shares of Broadcom in a research report on Wednesday, November 28th. Deutsche Bank reiterated a “buy” rating and issued a $310.00 target price on shares of Broadcom in a research report on Thursday, November 8th. Mizuho reissued a “buy” rating on shares of Broadcom in a report on Friday, October 5th. BidaskClub raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Friday, September 21st. Finally, ValuEngine raised shares of Broadcom from a “hold” rating to a “buy” rating in a report on Monday, December 17th. Nine investment analysts have rated the stock with a hold rating and thirty-three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $288.93.
Shares of NASDAQ AVGO opened at $250.57 on Monday. Broadcom has a 1 year low of $197.46 and a 1 year high of $273.85. The firm has a market cap of $100.30 billion, a P/E ratio of 13.31, a PEG ratio of 1.11 and a beta of 0.73. The company has a current ratio of 3.90, a quick ratio of 3.41 and a debt-to-equity ratio of 0.66.
In related news, insider Hock E. Tan sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $228.94, for a total value of $4,578,800.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 13th. The shares were sold at an average price of $259.19, for a total transaction of $2,591,900.00. The disclosure for this sale can be found here. In the last three months, insiders sold 79,723 shares of company stock valued at $19,826,374. Insiders own 3.30% of the company’s stock.
Large investors have recently modified their holdings of the stock. GSA Capital Partners LLP acquired a new stake in Broadcom during the second quarter worth approximately $788,000. FMR LLC acquired a new stake in Broadcom during the second quarter worth approximately $2,768,560,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Broadcom during the second quarter worth approximately $2,028,000. United Services Automobile Association acquired a new stake in Broadcom during the second quarter worth approximately $174,956,000. Finally, Commonwealth Bank of Australia acquired a new stake in Broadcom during the second quarter worth approximately $194,000. 86.37% of the stock is currently owned by hedge funds and other institutional investors.
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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