Weekly Investment Analysts’ Ratings Updates for Broadcom (AVGO)

Several analysts have recently updated their ratings and price targets for Broadcom (NASDAQ: AVGO):

  • 8/3/2019 – Broadcom was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/1/2019 – Broadcom was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/24/2019 – Broadcom was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/23/2019 – Broadcom is now covered by analysts at Royal Bank of Canada. They set an “outperform” rating and a $320.00 price target on the stock.
  • 7/16/2019 – Broadcom was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/9/2019 – Broadcom was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/8/2019 – Broadcom was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/2/2019 – Broadcom was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 6/29/2019 – Broadcom was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/18/2019 – Broadcom was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. They now have a $279.00 price target on the stock. According to Zacks, “Broadcom reported mixed second-quarter results, wherein the bottom line surpassed the Zacks Consensus Estimate, but the top line missed the same. Notably, revenues increased on a year over year basis. The company is benefiting from strong demand of its wireless solutions and expanding product portfolio, which makes it well-positioned to address the needs of rapidly growing technologies like IoT and 5G. Strong ties with leading OEMs across multiple target markets will help the company to gain key insights into the requirements of customers. Further, Broadcom is a leading player in the semiconductor market based on its multiple target markets, accretive acquisitions and strong cash flow. However, the company lowered its fiscal 2019 revenues outlook. Further, intensifying competition, integration risks and leveraged balance sheet adds to the woes.”
  • 6/17/2019 – Broadcom had its price target lowered by analysts at Robert W. Baird from $300.00 to $280.00. They now have an “outperform” rating on the stock.
  • 6/14/2019 – Broadcom had its price target lowered by analysts at JPMorgan Chase & Co. from $365.00 to $350.00. They now have an “overweight” rating on the stock.
  • 6/14/2019 – Broadcom had its price target lowered by analysts at KeyCorp from $350.00 to $310.00. They now have an “overweight” rating on the stock.
  • 6/14/2019 – Broadcom had its price target lowered by analysts at Barclays PLC from $360.00 to $315.00. They now have an “overweight” rating on the stock.
  • 6/14/2019 – Broadcom had its price target lowered by analysts at BMO Capital Markets from $270.00 to $260.00. They now have a “market perform” rating on the stock.
  • 6/14/2019 – Broadcom had its “market perform” rating reaffirmed by analysts at Cowen Inc. They now have a $265.00 price target on the stock, down previously from $280.00.
  • 6/14/2019 – Broadcom was downgraded by analysts at Charter Equity from a “buy” rating to a “market perform” rating. They now have a $254.00 price target on the stock.
  • 6/14/2019 – Broadcom had its “hold” rating reaffirmed by analysts at Raymond James.
  • 6/14/2019 – Broadcom had its price target lowered by analysts at SunTrust Banks, Inc. to $307.00. They now have a “buy” rating on the stock.
  • 6/14/2019 – Broadcom had its price target lowered by analysts at DA Davidson to $300.00. They now have a “buy” rating on the stock.
  • 6/14/2019 – Broadcom had its price target lowered by analysts at Citigroup Inc from $320.00 to $300.00. They now have a “buy” rating on the stock.
  • 6/14/2019 – Broadcom had its price target lowered by analysts at Deutsche Bank AG from $330.00 to $315.00. They now have a “buy” rating on the stock.
  • 6/14/2019 – Broadcom had its price target lowered by analysts at UBS Group AG from $325.00 to $310.00. They now have a “buy” rating on the stock.
  • 6/14/2019 – Broadcom was upgraded by analysts at Summit Redstone to a “buy” rating.
  • 6/14/2019 – Broadcom had its price target lowered by analysts at Jefferies Financial Group Inc from $370.00 to $324.00. They now have a “buy” rating on the stock.
  • 6/14/2019 – Broadcom had its “buy” rating reaffirmed by analysts at Craig Hallum. They now have a $315.00 price target on the stock, down previously from $325.00.
  • 6/14/2019 – Broadcom was upgraded by analysts at Summit Insights from a “hold” rating to a “buy” rating. They now have a $253.03 price target on the stock.
  • 6/14/2019 – Broadcom had its price target lowered by analysts at Mizuho from $335.00 to $330.00. They now have a “buy” rating on the stock.
  • 6/11/2019 – Broadcom was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 6/10/2019 – Broadcom had its price target lowered by analysts at Morgan Stanley from $266.00 to $262.00. They now have an “equal weight” rating on the stock.
  • 6/10/2019 – Broadcom had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $350.00 price target on the stock. They wrote, “We see Huawei as already built in to the current share price for AVGO and reiterate our Buy rating and $350 PT into the print (Thursday, June 13 th ) on the company’s secular semiconductor prospect and FCF generation.””

NASDAQ AVGO traded up $3.61 during trading on Wednesday, hitting $270.05. The stock had a trading volume of 1,796,980 shares, compared to its average volume of 2,856,452. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.13. The stock has a market cap of $106.58 billion, a PE ratio of 14.34, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Broadcom Inc has a one year low of $202.77 and a one year high of $323.20. The firm’s 50 day moving average price is $285.85.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.18 by $0.03. The business had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $5.70 billion. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm earned $4.88 earnings per share. On average, sell-side analysts expect that Broadcom Inc will post 17.43 EPS for the current fiscal year.

In other news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $264.00, for a total transaction of $5,280,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Bryan Ingram sold 11,922 shares of Broadcom stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $278.58, for a total transaction of $3,321,230.76. The disclosure for this sale can be found here. In the last three months, insiders sold 65,388 shares of company stock valued at $18,198,482. 3.30% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of AVGO. BTIM Corp. raised its stake in Broadcom by 1.7% in the first quarter. BTIM Corp. now owns 1,883 shares of the semiconductor manufacturer’s stock worth $566,000 after buying an additional 32 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in Broadcom by 9.1% in the first quarter. Parkside Financial Bank & Trust now owns 395 shares of the semiconductor manufacturer’s stock worth $119,000 after buying an additional 33 shares in the last quarter. CRA Financial Services LLC raised its stake in Broadcom by 2.0% in the second quarter. CRA Financial Services LLC now owns 1,696 shares of the semiconductor manufacturer’s stock worth $488,000 after buying an additional 33 shares in the last quarter. Lindbrook Capital LLC raised its stake in Broadcom by 5.4% in the first quarter. Lindbrook Capital LLC now owns 662 shares of the semiconductor manufacturer’s stock worth $199,000 after buying an additional 34 shares in the last quarter. Finally, Liberty Wealth Management LLC raised its stake in Broadcom by 62.5% in the second quarter. Liberty Wealth Management LLC now owns 91 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 35 shares in the last quarter. 84.03% of the stock is 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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