Broadcom (NASDAQ:AVGO) PT Set at $310.00 by Loop Capital

Broadcom (NASDAQ:AVGO) has been assigned a $310.00 price target by investment analysts at Loop Capital in a research note issued on Monday, TipRanks reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Loop Capital’s price objective indicates a potential upside of 4.02% from the company’s previous close.

AVGO has been the subject of several other reports. UBS Group cut their price target on Broadcom from $325.00 to $310.00 and set a “buy” rating for the company in a research note on Friday, June 14th. Jefferies Financial Group lowered their price objective on Broadcom from $370.00 to $324.00 and set a “buy” rating on the stock in a research note on Friday, June 14th. KeyCorp lifted their price objective on Broadcom from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Friday, August 9th. BMO Capital Markets cut their target price on Broadcom from $270.00 to $260.00 and set a “market perform” rating for the company in a research report on Friday, June 14th. Finally, Robert W. Baird reduced their target price on Broadcom from $300.00 to $280.00 and set an “outperform” rating on the stock in a report on Monday, June 17th. Ten investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $304.16.

NASDAQ AVGO traded up $3.57 during trading on Monday, reaching $298.01. The company’s stock had a trading volume of 1,515,593 shares, compared to its average volume of 2,738,333. The company has a current ratio of 1.26, a quick ratio of 1.13 and a debt-to-equity ratio of 1.53. The firm has a market capitalization of $116.48 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.43 and a beta of 0.88. Broadcom has a 12 month low of $208.23 and a 12 month high of $323.20. The firm has a 50 day moving average price of $283.11 and a 200 day moving average price of $286.75.



Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.18 by $0.03. Broadcom had a net margin of 15.92% and a return on equity of 32.81%. The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the prior year, the business posted $4.88 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. On average, equities analysts forecast that Broadcom will post 17.23 EPS for the current fiscal year.

In other Broadcom news, SVP Bryan Ingram sold 11,922 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $292.16, for a total transaction of $5,843,200.00. The disclosure for this sale can be found here. Insiders sold 85,388 shares of company stock valued at $23,607,682 in the last three months. Company insiders own 3.30% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Endurance Wealth Management Inc. lifted its stake in shares of Broadcom by 8.4% in the second quarter. Endurance Wealth Management Inc. now owns 7,575 shares of the semiconductor manufacturer’s stock worth $2,181,000 after acquiring an additional 585 shares during the period. Outlook Wealth Advisors LLC raised its holdings in Broadcom by 773.5% during the 1st quarter. Outlook Wealth Advisors LLC now owns 856 shares of the semiconductor manufacturer’s stock worth $257,000 after purchasing an additional 758 shares during the last quarter. Parsons Capital Management Inc. RI lifted its position in shares of Broadcom by 13.2% in the 2nd quarter. Parsons Capital Management Inc. RI now owns 1,646 shares of the semiconductor manufacturer’s stock worth $474,000 after purchasing an additional 192 shares during the period. 9258 Wealth Management LLC lifted its position in shares of Broadcom by 5.8% in the 2nd quarter. 9258 Wealth Management LLC now owns 1,558 shares of the semiconductor manufacturer’s stock worth $449,000 after purchasing an additional 85 shares during the period. Finally, Cookson Peirce & Co. Inc. boosted its stake in shares of Broadcom by 63.0% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 60,830 shares of the semiconductor manufacturer’s stock valued at $17,511,000 after purchasing an additional 23,514 shares during the last quarter. Institutional investors own 84.63% of the company’s stock.

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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Analyst Recommendations for Broadcom (NASDAQ:AVGO)

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