Broadcom (NASDAQ:AVGO) Earns “Outperform” Rating from William Blair

Broadcom (NASDAQ:AVGO)‘s stock had its “outperform” rating reissued by research analysts at William Blair in a report released on Friday,RTT News reports.

Several other research analysts have also recently issued reports on the stock. Jefferies Financial Group increased their price objective on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a report on Friday, December 13th. Rosenblatt Securities reaffirmed a “buy” rating and set a $250.00 price target on shares of Broadcom in a research note on Friday. Hsbc Global Res upgraded Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Barclays upped their price objective on Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Mizuho decreased their target price on Broadcom from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.48.

Broadcom Trading Up 8.6 %

Shares of AVGO stock opened at $194.96 on Friday. Broadcom has a 1 year low of $119.76 and a 1 year high of $251.88. The firm has a market capitalization of $913.85 billion, a PE ratio of 159.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. The stock has a fifty day moving average of $222.28 and a two-hundred day moving average of $192.93. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share. As a group, research analysts expect that Broadcom will post 5.38 EPS for the current year.

Insider Activity at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 45,000 shares of Broadcom stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the completion of the sale, the chief executive officer now owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This trade represents a 5.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $229.64, for a total transaction of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at $10,655,296. This trade represents a 7.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 191,278 shares of company stock valued at $44,964,800. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Canton Hathaway LLC bought a new stake in shares of Broadcom in the 4th quarter valued at approximately $26,000. Rialto Wealth Management LLC acquired a new stake in Broadcom in the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC bought a new stake in Broadcom in the fourth quarter worth approximately $28,000. Vermillion Wealth Management Inc. bought a new stake in Broadcom in the fourth quarter worth approximately $30,000. Finally, Sellwood Investment Partners LLC acquired a new position in shares of Broadcom during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.