Broadcom (AVGO) Given New $305.00 Price Target at Mizuho

Broadcom (NASDAQ:AVGO) had its price target lifted by stock analysts at Mizuho from $295.00 to $305.00 in a research report issued on Friday, The Fly reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Mizuho’s price target would suggest a potential upside of 5.07% from the stock’s current price.

Several other research analysts have also issued reports on the stock. Morgan Stanley lowered their price target on shares of Broadcom from $265.00 to $261.00 and set an “equal weight” rating for the company in a report on Monday, January 7th. BidaskClub lowered shares of Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 5th. Wells Fargo & Co restated a “market perform” rating and set a $265.00 price target on shares of Broadcom in a report on Wednesday, November 28th. ValuEngine upgraded shares of Broadcom from a “hold” rating to a “buy” rating in a report on Monday, December 17th. Finally, Deutsche Bank lowered their price target on shares of Broadcom from $310.00 to $300.00 and set a “buy” rating for the company in a report on Monday, December 3rd. Ten research analysts have rated the stock with a hold rating and thirty-two have issued a buy rating to the company. Broadcom presently has an average rating of “Buy” and a consensus target price of $295.85.

Broadcom stock opened at $290.29 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.90 and a quick ratio of 3.41. Broadcom has a 52-week low of $197.46 and a 52-week high of $286.63. The company has a market cap of $106.80 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 1.22 and a beta of 0.67.



Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.32 by $1.23. Broadcom had a net margin of 58.80% and a return on equity of 29.03%. The firm had revenue of $5.79 billion during the quarter, compared to analyst estimates of $5.83 billion. During the same quarter last year, the business earned $5.12 EPS. The company’s revenue was up 8.6% compared to the same quarter last year. Analysts forecast that Broadcom will post 18.59 earnings per share for the current year.

In related news, Director Donald Macleod sold 5,223 shares of Broadcom stock in a transaction on Monday, January 7th. The shares were sold at an average price of $233.65, for a total value of $1,220,353.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Monday, December 17th. The shares were sold at an average price of $256.47, for a total transaction of $5,129,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 45,223 shares of company stock valued at $11,449,554. 3.30% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Broadcom by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares during the period. Vanguard Group Inc grew its position in Broadcom by 6.6% in the 3rd quarter. Vanguard Group Inc now owns 33,632,811 shares of the semiconductor manufacturer’s stock valued at $8,298,223,000 after purchasing an additional 2,094,847 shares during the period. Capital International Investors grew its position in Broadcom by 504.1% in the 3rd quarter. Capital International Investors now owns 27,509,769 shares of the semiconductor manufacturer’s stock valued at $6,787,485,000 after purchasing an additional 22,955,578 shares during the period. BlackRock Inc. grew its position in Broadcom by 0.8% in the 3rd quarter. BlackRock Inc. now owns 25,930,258 shares of the semiconductor manufacturer’s stock valued at $6,397,772,000 after purchasing an additional 209,280 shares during the period. Finally, Capital Research Global Investors grew its position in Broadcom by 16.3% in the 3rd quarter. Capital Research Global Investors now owns 25,694,725 shares of the semiconductor manufacturer’s stock valued at $6,339,659,000 after purchasing an additional 3,608,395 shares during the period. 83.49% of the stock is owned by institutional investors and hedge funds.

Broadcom Company Profile

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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