Broadcom (NASDAQ:AVGO) Price Target Raised to $210.00 at Robert W. Baird

Broadcom (NASDAQ:AVGO) had its target price raised by Robert W. Baird from $195.00 to $210.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the semiconductor manufacturer’s stock. Robert W. Baird’s price target suggests a potential upside of 16.24% from the stock’s current price.

A number of other brokerages have also recently commented on AVGO. JPMorgan Chase & Co. boosted their price target on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Cantor Fitzgerald lifted their price objective on Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Benchmark restated a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. Finally, Mizuho upped their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus target price of $204.42.

Broadcom Price Performance

Shares of AVGO stock opened at $180.66 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market cap of $843.79 billion, a price-to-earnings ratio of 156.96, a PEG ratio of 2.15 and a beta of 1.13. The business’s fifty day moving average is $173.65 and its 200 day moving average is $163.86. Broadcom has a twelve month low of $104.15 and a twelve month high of $186.42.

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

Insider Activity at Broadcom

In other news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares of the company’s stock, valued at $69,596,812.80. The trade was a 4.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total value of $25,941,000.00. Following the completion of the sale, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This trade represents a 11.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is owned by insiders.

Institutional Trading of Broadcom

Several hedge funds have recently bought and sold shares of AVGO. Kiely Wealth Advisory Group Inc. bought a new position in shares of Broadcom during the 2nd quarter valued at approximately $128,000. Mark Sheptoff Financial Planning LLC bought a new position in shares of Broadcom in the second quarter worth approximately $136,000. American Capital Advisory LLC purchased a new stake in shares of Broadcom in the second quarter worth $169,000. Semus Wealth Partners LLC bought a new stake in shares of Broadcom during the 2nd quarter valued at $202,000. Finally, Palisades Hudson Asset Management L.P. purchased a new position in shares of Broadcom during the 2nd quarter valued at $204,000. 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.