Broadcom (NASDAQ:AVGO) Price Target Raised to $205.00 at Barclays

Broadcom (NASDAQ:AVGO) had its target price increased by equities research analysts at Barclays from $200.00 to $205.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor manufacturer’s stock. Barclays‘s price target would indicate a potential downside of 15.67% from the company’s previous close.

Other analysts also recently issued reports about the company. Benchmark restated a “buy” rating and issued a $255.00 price target (up from $210.00) on shares of Broadcom in a research report on Friday. TD Cowen upped their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday. UBS Group upped their target price on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Citigroup lifted their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Bank of America raised their price target on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $220.54.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $18.28 during midday trading on Monday, hitting $243.08. The company had a trading volume of 21,490,299 shares, compared to its average volume of 29,387,973. The company has a market cap of $1.14 trillion, a price-to-earnings ratio of 197.63, a PEG ratio of 2.15 and a beta of 1.13. 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 company has a fifty day moving average of $174.61 and a two-hundred day moving average of $164.45. Broadcom has a 12-month low of $104.15 and a 12-month high of $245.20.

Broadcom (NASDAQ:AVGO) last posted 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. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The firm had revenue of $14.05 billion for the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the firm earned $0.98 EPS. The business’s quarterly revenue was up 51.2% on a year-over-year basis. On average, equities research analysts expect that Broadcom will post 3.79 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gayla J. Delly sold 750 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Hock E. Tan sold 50,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total value of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock valued at $53,540,590 over the last three months. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

A number of hedge funds have recently made changes to their positions in the stock. NCP Inc. grew its holdings in shares of Broadcom by 615.4% during the 2nd quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after acquiring an additional 400 shares in the last quarter. Crescent Grove Advisors LLC bought a new position in shares of Broadcom in the 2nd quarter valued at approximately $242,000. Busey Bank lifted its holdings in Broadcom by 0.8% in the 2nd quarter. Busey Bank now owns 33,607 shares of the semiconductor manufacturer’s stock worth $53,957,000 after purchasing an additional 251 shares during the last quarter. Iowa State Bank acquired a new stake in Broadcom in the 2nd quarter worth $2,896,000. Finally, MeadowBrook Investment Advisors LLC raised its position in shares of Broadcom by 3,171.4% during the second quarter. MeadowBrook Investment Advisors LLC now owns 229 shares of the semiconductor manufacturer’s stock valued at $368,000 after buying an additional 222 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

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.