Broadcom (NASDAQ:AVGO) Given “Overweight” Rating at Cantor Fitzgerald

Broadcom (NASDAQ:AVGO)‘s stock had its “overweight” rating restated by stock analysts at Cantor Fitzgerald in a report released on Friday,Benzinga reports. They currently have a $300.00 price objective on the semiconductor manufacturer’s stock. Cantor Fitzgerald’s price target points to a potential upside of 61.27% from the stock’s previous close.

Several other brokerages have also weighed in on AVGO. Robert W. Baird increased their target price on shares of Broadcom from $195.00 to $210.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. TD Cowen upped their target price on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Barclays boosted their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Morgan Stanley reduced their price objective on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $250.00 target price on shares of Broadcom in a research note on Friday. Three analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $230.92.

Broadcom Stock Performance

Broadcom stock traded up $6.58 during mid-day trading on Friday, hitting $186.03. The company had a trading volume of 29,974,003 shares, compared to its average volume of 29,587,614. The company has a market capitalization of $871.97 billion, a price-to-earnings ratio of 151.03, a P/E/G ratio of 2.29 and a beta of 1.01. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The company’s fifty day moving average is $223.22 and its 200-day moving average is $192.55. Broadcom has a 12-month low of $119.76 and a 12-month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly 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. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities research analysts predict that Broadcom will post 5.38 EPS for the current year.

Insider Transactions at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the sale, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. This represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark David Brazeal sold 20,168 shares of the firm’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $238.79, for a total value of $4,815,916.72. Following the sale, the insider now directly owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock valued at $44,964,800. Corporate insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

Several hedge funds and other institutional investors have recently made changes to their positions in AVGO. Copia Wealth Management acquired a new position in shares of Broadcom in the fourth quarter valued at approximately $194,000. IronOak Wealth LLC. acquired a new position in Broadcom during the fourth quarter valued at approximately $3,035,000. Elite Financial Inc. bought a new stake in Broadcom during the fourth quarter worth $231,000. TFR Capital LLC. acquired a new stake in shares of Broadcom in the 4th quarter valued at $2,217,000. Finally, Smith Shellnut Wilson LLC ADV boosted its stake in shares of Broadcom by 4.2% in the 4th quarter. Smith Shellnut Wilson LLC ADV now owns 4,585 shares of the semiconductor manufacturer’s stock valued at $1,063,000 after purchasing an additional 183 shares in the last quarter. 76.43% of the stock is owned by 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.