Broadcom's (AVGO) "Buy" Rating Reiterated at Craig Hallum

Yolanda Curtis
December 8, 2017

Broadcom (NASDAQ:AVGO) traded up $2.24 during trading on Wednesday, reaching $263.89.

A statistical measure of the dispersion of returns (volatility) for AVGO producing salvation in Investors mouth, it has week volatility of 3.82% and for the month booked as 2.69%. The recent close goes a long way in suggesting that the stock price is being underpriced by a 26.95% compared to the most bullish target. Sanford C. Bernstein restated an "outperform" rating and set a $285.00 price objective on shares of Broadcom in a report on Tuesday, October 10th. The rating was maintained by M Partners on Wednesday, February 24 with "Buy". Wells Fargo & Co reissued a "market perform" rating and issued a $222.50 price target (up from $165.00) on shares of Broadcom in a research report on Friday, March 3rd. Three equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the company's stock. Jefferies Group LLC raised their price target on Broadcom from $210.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, March 2nd. IFP Advisors Inc now owns 2,169 shares of the semiconductor manufacturer's stock worth $506,000 after buying an additional 257 shares during the last quarter. The stock had a trading volume of 4,875,100 shares, compared to its average volume of 2,777,329. The firm has a market cap of $106,747.80, a price-to-earnings ratio of 19.78, a price-to-earnings-growth ratio of 1.26 and a beta of 1.05. A low ratio will specify that there is a probable undervaluation, while a ratio that is comparatively high above the average may indicate overvaluation. The company has a debt-to-equity ratio of 0.60, a current ratio of 4.48 and a quick ratio of 3.84. First Natl Bank Of Omaha holds 0.24% in Broadcom Limited (NASDAQ:AVGO) or 38,700 shares. The semiconductor manufacturer reported $4.59 EPS for the quarter, topping the consensus estimate of $4.52 by $0.07.

Broadcom Beats Quarterly Sales, Earnings Targets; Shares Tick Up

Revenues rose 17.1% from past year to $4.84 billion, matching analysts' view for $4.84 billion. According to these analysts, the Low Revenue Estimate for Nielsen Holdings plc is 1.73 Billion and the High Revenue Estimate is 1.77 Billion. During the same period last year, the business posted $3.47 EPS. sell-side analysts expect that Broadcom will post 13.93 earnings per share for the current year.

In other news, VP Patricia H. Mccall sold 1,696 shares of the company's stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Bryan Ingram sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, September 28th. About 4.88M shares traded or 60.36% up from the average. The disclosure for this sale can be found here.

The company shows its Return on Assets (ROA) value of 3.1%. Hedge funds and other institutional investors own 91.85% of the company's stock. Cibc Ww Markets Corp owns 102,545 shares. Ameriprise Financial Inc. boosted its position in shares of Broadcom by 18.2% during the second quarter. Balasa Dinverno & Foltz Llc accumulated 1,640 shares or 0.06% of the stock. Pioneer Investment Management Inc. grew its stake in Broadcom by 2.2% during the 2nd quarter. Pioneer Investment Management Inc. now owns 1,236,209 shares of the semiconductor manufacturer's stock worth $288,099,000 after acquiring an additional 26,246 shares in the last quarter.

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Broadcom Limited designs, develops, and supplies a range of semiconductor devices worldwide. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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