Analysts Alert: Broadcom Ltd (NASDAQ:AVGO)
- Author: Zachary Reyes Jun 02, 2017,
Jun 02, 2017, 20:28
Broadcom Ltd (NASDAQ:AVGO) late Thursday posted market beating second quarter earnings results and offered a Q3 outlook that also beat analysts' expectations. The firm has "Buy" rating given on Tuesday, December 6 by Loop Capital. Deutsche Bank's target would indicate a potential upside of 1.22 % from the company's current stock price. Craig Hallum raised their price objective on shares of Broadcom from $260.00 to $290.00 and gave the stock a "buy" rating in a report on Friday. Topeka Capital Markets initiated the shares of AVGO in report on Tuesday, February 16 with "Hold" rating. Canaccord Genuity maintained the shares of AVGO in report on Friday, May 26 with "Buy" rating. The firm has "Neutral" rating given on Friday, November 4 by Goldman Sachs. Finally, Royal Bank of Canada reiterated a "top pick" rating and set a $230.00 price target (up from $225.00) on shares of Broadcom in a research report on Tuesday, February 21st. Three analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company. According to First Call, the current consensus target price on shares is sitting at $252.26.
ILLEGAL ACTIVITY WARNING: "Broadcom Ltd (AVGO) Stake Raised by Pioneer Investment Management Inc." was first published by Transcript Daily and is owned by of Transcript Daily. The company's 50 day moving average price is $228.36 and its 200-day moving average price is $204.53. The share last price represents downtick move of -3.42% in value from company's 52-Week high price and shows 64.89% above change in value from its 52-Week low price. Broadcom also saw some unusual options trading on Tuesday. The average volume stands around 5107137. (LSBK) has risen 17.16% since June 2, 2016 and is uptrending. 176,130 shares or 129.08% more from 76,885 shares in 2016Q3 were reported. Broadcom had a positive return on equity of 22.77% and a negative net margin of 13.13%. Consensus estimates had called for $3.36 in EPS and revenue of $4.11 billion. During the same quarter previous year, the company earned $2.53 earnings per share. In a research note shared with investors on Wednesday morning, Deutsche Bank kept their "Buy" rating on shares of AVGO. If you are reading this story on another site, it was copied illegally and republished in violation of US & worldwide copyright & trademark laws. They now have a $255.0000 TP on the company. Natixis holds 0% or 15,861 shares. Moving averages are considered to be lagging indicators that simply take the average price of a stock over a certain period of time. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Hock E. Tan sold 65,000 shares of the business's stock in a transaction on Monday, March 6th. The shares were sold at an average price of $219.10, for a total value of $963,601.80. Corporate insiders own 6.20% of the company's stock.
Large investors have recently bought and sold shares of the stock. Jennison Associates LLC increased its position in Broadcom by 904.2% in the first quarter.
On 6/3/2016 Broadcom Ltd announced a Quarterly dividend of $0.50 1.25% with an ex dividend date of 6/15/2016 which will be payable on 6/30/2016. Crestwood Advisors Group LLC purchased a new position in Broadcom during the first quarter worth about $111,000. Archford Capital Strategies LLC increased its stake in Broadcom by 45.4% in the first quarter. Cibc World Markets Corporation stated it has 29,230 shares or 0.05% of all its holdings. Independent Advisor Alliance acquired a new stake in Broadcom during the fourth quarter valued at approximately $127,000. The Illinois-based Banc Funds Co Llc has invested 0.15% in the stock.
The disclosure for this sale can be found here.Broadcom Ltd. designs, develops and supplier of a broad range of analog and digital semiconductor connectivity solutions. The Firm operates through four divisions: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.