Broadcom (NASDAQ:AVGO) Given New $240.00 Price Target at TD Cowen

Broadcom (NASDAQ:AVGO) had its target price increased by analysts at TD Cowen from $210.00 to $240.00 in a research note issued to investors on Friday,Briefing.com Automated Import reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. TD Cowen’s price target points to a potential upside of 32.85% from the company’s current price.

Other equities analysts have also recently issued reports about the company. Citigroup raised their target price on Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a report on Tuesday. Mizuho raised their price objective on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. The Goldman Sachs Group upped their target price on shares of Broadcom from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Friday, September 6th. Robert W. Baird raised their price target on shares of Broadcom from $195.00 to $210.00 and gave the company an “outperform” rating in a research report on Friday. Finally, UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $205.67.

Broadcom Trading Down 1.4 %

Shares of Broadcom stock opened at $180.66 on Friday. Broadcom has a 1-year low of $104.15 and a 1-year high of $186.42. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The stock has a market cap of $843.79 billion, a P/E ratio of 156.96, a P/E/G ratio of 2.15 and a beta of 1.13. The stock’s 50 day simple moving average is $173.65 and its 200-day simple moving average is $163.86.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.03. The company had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. During the same quarter last year, the firm posted $0.98 earnings per share. Broadcom’s revenue was up 51.2% compared to the same quarter last year. Analysts predict that Broadcom will post 3.79 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the transaction, the insider now owns 753,280 shares of the company’s stock, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 20,280 shares of the stock in a transaction on Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This represents a 4.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Several hedge funds have recently modified their holdings of the business. Richardson Financial Services Inc. boosted its position in shares of Broadcom by 2.4% during the 3rd quarter. Richardson Financial Services Inc. now owns 2,507 shares of the semiconductor manufacturer’s stock worth $415,000 after purchasing an additional 59 shares in the last quarter. Delta Investment Management LLC boosted its holdings in Broadcom by 14.9% during the second quarter. Delta Investment Management LLC now owns 510 shares of the semiconductor manufacturer’s stock worth $818,000 after buying an additional 66 shares in the last quarter. Raab & Moskowitz Asset Management LLC grew its position in Broadcom by 6.2% during the second quarter. Raab & Moskowitz Asset Management LLC now owns 1,156 shares of the semiconductor manufacturer’s stock worth $1,856,000 after buying an additional 67 shares during the period. Zimmermann Investment Management & Planning LLC increased its holdings in Broadcom by 4.0% in the second quarter. Zimmermann Investment Management & Planning LLC now owns 1,755 shares of the semiconductor manufacturer’s stock valued at $2,818,000 after buying an additional 68 shares in the last quarter. Finally, Decatur Capital Management Inc. lifted its position in shares of Broadcom by 2.2% during the 2nd quarter. Decatur Capital Management Inc. now owns 3,166 shares of the semiconductor manufacturer’s stock valued at $5,083,000 after acquiring an additional 68 shares during the period. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various 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 in two segments, Semiconductor Solutions and Infrastructure Software.