Broadcom (NASDAQ:AVGO) PT Lowered to $659.00

Broadcom (NASDAQ:AVGOGet Rating) had its target price cut by research analysts at Truist Financial from $662.00 to $659.00 in a report issued on Monday, The Fly reports. Truist Financial’s price target would suggest a potential upside of 15.46% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Wells Fargo & Company began coverage on shares of Broadcom in a research report on Friday, December 9th. They set an “equal weight” rating on the stock. UBS Group lowered their price target on Broadcom from $690.00 to $675.00 in a research report on Friday, December 9th. StockNews.com raised shares of Broadcom from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, October 5th. Mizuho lowered their target price on shares of Broadcom from $725.00 to $700.00 and set a “buy” rating on the stock in a report on Friday, December 9th. Finally, Susquehanna Bancshares cut their price target on shares of Broadcom from $680.00 to $650.00 and set a “positive” rating for the company in a research note on Monday, December 5th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $667.21.

Broadcom Stock Up 1.3 %

AVGO stock opened at $570.78 on Monday. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.62 and a quick ratio of 2.35. The stock has a market capitalization of $238.52 billion, a P/E ratio of 21.54, a P/E/G ratio of 1.19 and a beta of 1.08. Broadcom has a fifty-two week low of $415.07 and a fifty-two week high of $645.31. The business has a 50-day moving average of $549.52 and a 200-day moving average of $514.14.

Broadcom (NASDAQ:AVGOGet Rating) last released its quarterly earnings results on Thursday, December 8th. The semiconductor manufacturer reported $9.75 earnings per share for the quarter, topping analysts’ consensus estimates of $9.50 by $0.25. Broadcom had a return on equity of 70.00% and a net margin of 34.62%. The firm had revenue of $8.93 billion during the quarter, compared to the consensus estimate of $8.90 billion. During the same quarter in the prior year, the firm posted $7.01 EPS. The business’s revenue was up 20.6% on a year-over-year basis. On average, sell-side analysts anticipate that Broadcom will post 37.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Broadcom

In other news, Director Justine Page sold 170 shares of the business’s stock in a transaction on Tuesday, December 13th. The stock was sold at an average price of $574.86, for a total transaction of $97,726.20. Following the completion of the transaction, the director now owns 2,981 shares of the company’s stock, valued at approximately $1,713,657.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Purus Wealth Management LLC grew its holdings in shares of Broadcom by 0.5% during the 4th quarter. Purus Wealth Management LLC now owns 3,409 shares of the semiconductor manufacturer’s stock valued at $1,906,000 after purchasing an additional 18 shares during the last quarter. Shelton Wealth Management LLC grew its stake in shares of Broadcom by 2.1% during the second quarter. Shelton Wealth Management LLC now owns 942 shares of the semiconductor manufacturer’s stock worth $458,000 after buying an additional 19 shares during the last quarter. Carret Asset Management LLC increased its holdings in shares of Broadcom by 0.7% during the second quarter. Carret Asset Management LLC now owns 2,907 shares of the semiconductor manufacturer’s stock worth $1,412,000 after buying an additional 19 shares in the last quarter. Institute for Wealth Management LLC. lifted its stake in shares of Broadcom by 0.8% in the 2nd quarter. Institute for Wealth Management LLC. now owns 2,535 shares of the semiconductor manufacturer’s stock valued at $1,231,000 after acquiring an additional 20 shares during the last quarter. Finally, King Wealth boosted its holdings in shares of Broadcom by 0.9% during the 3rd quarter. King Wealth now owns 2,303 shares of the semiconductor manufacturer’s stock valued at $1,023,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 81.28% of the company’s stock.

About Broadcom

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Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.

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