Broadcom (NASDAQ:AVGO) PT Raised to $725.00 at Mizuho

Broadcom (NASDAQ:AVGOGet Rating) had its price objective hoisted by equities research analysts at Mizuho from $700.00 to $725.00 in a note issued to investors on Friday, The Fly reports. Mizuho’s target price indicates a potential upside of 31.66% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Morgan Stanley dropped their target price on shares of Broadcom from $723.00 to $703.00 and set an “overweight” rating on the stock in a research report on Friday, March 4th. Rosenblatt Securities upped their target price on shares of Broadcom from $750.00 to $775.00 and gave the stock a “buy” rating in a report on Friday, March 4th. Susquehanna reiterated a “buy” rating and set a $680.00 price target on shares of Broadcom in a research note on Tuesday, March 1st. The Goldman Sachs Group lowered their price objective on Broadcom from $704.00 to $665.00 and set a “buy” rating for the company in a research note on Friday, March 4th. Finally, JPMorgan Chase & Co. lifted their target price on Broadcom from $700.00 to $715.00 and gave the company an “overweight” rating in a research report on Friday, March 4th. Five research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $675.88.

AVGO opened at $550.66 on Friday. Broadcom has a twelve month low of $455.71 and a twelve month high of $677.76. The company has a fifty day moving average of $587.30 and a 200-day moving average of $591.02. The stock has a market cap of $224.82 billion, a PE ratio of 31.39, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. The company has a quick ratio of 2.20, a current ratio of 2.44 and a debt-to-equity ratio of 1.71.

Broadcom (NASDAQ:AVGOGet Rating) last issued its quarterly earnings results on Thursday, June 2nd. The semiconductor manufacturer reported $9.07 earnings per share for the quarter, topping analysts’ consensus estimates of $7.88 by $1.19. The firm had revenue of $8.10 billion during the quarter, compared to the consensus estimate of $7.91 billion. Broadcom had a return on equity of 50.20% and a net margin of 27.47%. The business’s revenue was up 22.6% compared to the same quarter last year. During the same period last year, the business posted $5.89 EPS. Sell-side analysts anticipate that Broadcom will post 32.08 EPS for the current fiscal year.

In other Broadcom news, COO Charlie B. Kawwas sold 2,520 shares of the stock in a transaction that occurred on Thursday, March 24th. The shares were sold at an average price of $619.89, for a total value of $1,562,122.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Thomas H. Krause sold 13,863 shares of the business’s stock in a transaction on Wednesday, March 16th. The shares were sold at an average price of $585.29, for a total transaction of $8,113,875.27. The disclosure for this sale can be found here. In the last three months, insiders sold 31,273 shares of company stock worth $18,818,718. Insiders own 2.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in AVGO. Eagle Capital Management LLC increased its position in shares of Broadcom by 0.7% during the 2nd quarter. Eagle Capital Management LLC now owns 10,602 shares of the semiconductor manufacturer’s stock valued at $5,055,000 after purchasing an additional 74 shares during the last quarter. Keudell Morrison Wealth Management grew its position in Broadcom by 21.4% during the third quarter. Keudell Morrison Wealth Management now owns 948 shares of the semiconductor manufacturer’s stock valued at $460,000 after acquiring an additional 167 shares during the last quarter. Assetmark Inc. raised its stake in shares of Broadcom by 29.3% during the third quarter. Assetmark Inc. now owns 605 shares of the semiconductor manufacturer’s stock worth $293,000 after acquiring an additional 137 shares in the last quarter. Chiron Investment Management LLC bought a new stake in shares of Broadcom in the 3rd quarter worth approximately $241,000. Finally, Bluestein R H & Co. boosted its stake in shares of Broadcom by 12.9% in the 3rd quarter. Bluestein R H & Co. now owns 878 shares of the semiconductor manufacturer’s stock valued at $426,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 81.53% of the company’s stock.

Broadcom Company Profile (Get Rating)

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.

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