Broadcom Corp. (NASDAQ:BRCM)‘s stock had its “hold” rating reiterated by equities researchers at UBS AG in a research report issued on Wednesday, American Banking News reports. They currently have a $29.00 price target on the stock, up from their previous price target of $27.00. UBS AG’s target price indicates a potential upside of 1.72% from the company’s current price.
Shares of Broadcom Corp. (NASDAQ:BRCM) traded up 0.91% during mid-day trading on Wednesday, hitting $28.77. 6,234,612 shares of the company’s stock traded hands. Broadcom Corp. has a 52-week low of $23.25 and a 52-week high of $37.85. The stock’s 50-day moving average is $26.85 and its 200-day moving average is $28.. The company has a market cap of $16.341 billion and a price-to-earnings ratio of 32.88.
Broadcom Corp. (NASDAQ:BRCM) last posted its quarterly earnings results on Tuesday, October 22nd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. The company had revenue of $2.15 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up .8% on a year-over-year basis. Analysts expect that Broadcom Corp. will post $2.62 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Evercore Partners reiterated an “overweight” rating on shares of Broadcom Corp. in a research note to investors on Wednesday. They now have a $34.00 price target on the stock, up previously from $30.00. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Broadcom Corp. in a research note to investors on Wednesday. They now have a $28.51 price target on the stock, down previously from $33.00. Finally, analysts at Stifel Nicolaus raised their price target on shares of Broadcom Corp. from $30.00 to $32.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $32.37.
Broadcom Corporation (NASDAQ:BRCM) is a global semiconductor solution for wired and wireless communications.
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