Broadcom Corp. (NASDAQ:BRCM)‘s stock had its “buy” rating reaffirmed by equities researchers at Benchmark Co. in a research report issued on Friday, American Banking News reports. They currently have a $35.00 target price on the stock. Benchmark Co.’s price objective points to a potential upside of 28.87% from the company’s current price.
BRCM has been the subject of a number of other recent research reports. Analysts at Brean Capital cut their price target on shares of Broadcom Corp. from $36.00 to $35.00 in a research note to investors on Friday. Separately, analysts at Societe Generale reiterated a “hold” rating on shares of Broadcom Corp. in a research note to investors on Wednesday, October 2nd. They now have a $30.00 price target on the stock. Finally, analysts at Piper Jaffray Cos. cut their price target on shares of Broadcom Corp. from $33.00 to $30.00 in a research note to investors on Friday, September 27th. They now have an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $34.62.
Broadcom Corp. (NASDAQ:BRCM) traded up 0.40% on Friday, hitting $27.16. 9,264,691 shares of the company’s stock traded hands. Broadcom Corp. has a 1-year low of $23.25 and a 1-year high of $37.85. The stock’s 50-day moving average is $26.49 and its 200-day moving average is $31.06. The company has a market cap of $15.726 billion and a P/E ratio of 37.47.
Broadcom Corp. (NASDAQ:BRCM) last released its earnings data on Tuesday, July 23rd. The company reported $0.70 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.69 by $0.01. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Broadcom Corp. will post $2.62 earnings per share for the current fiscal year.
Broadcom Corporation (NASDAQ:BRCM) is a global semiconductor solution for wired and wireless communications.
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