Broadcom (NASDAQ:AVGO) Receives Buy Rating from Mizuho

Broadcom (NASDAQ:AVGO – Get Rating)‘s stock had its “buy” rating reiterated by research analysts at Mizuho in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $720.00 target price on the semiconductor manufacturer’s stock. Mizuho’s price target would indicate a potential upside of 14.11% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Evercore ISI raised their price target on shares of Broadcom to $650.00 in a report on Monday, December 12th. BNP Paribas started coverage on shares of Broadcom in a research note on Tuesday, February 28th. They issued an “outperform” rating and a $660.00 price objective for the company. KeyCorp lifted their price objective on shares of Broadcom from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Friday, March 3rd. Oppenheimer reiterated an “outperform” rating and issued a $720.00 price objective on shares of Broadcom in a research note on Monday, December 5th. Finally, Cowen lifted their price objective on shares of Broadcom from $540.00 to $555.00 and gave the company a “market perform” rating in a research note on Friday, December 9th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $674.17.

Broadcom Stock Down 0.9 %

NASDAQ:AVGO opened at $630.97 on Friday. The firm’s 50 day simple moving average is $597.58 and its 200 day simple moving average is $536.05. The company has a debt-to-equity ratio of 1.64, a current ratio of 2.52 and a quick ratio of 2.26. Broadcom has a one year low of $415.07 and a one year high of $645.31. The company has a market cap of $263.06 billion, a PE ratio of 21.24, a P/E/G ratio of 1.25 and a beta of 1.10.

Broadcom (NASDAQ:AVGO – Get Rating) last posted its earnings results on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 EPS for the quarter, topping the consensus estimate of $9.38 by $0.95. Broadcom had a net margin of 37.19% and a return on equity of 73.52%. The business had revenue of $8.92 billion for the quarter, compared to the consensus estimate of $8.90 billion. During the same period last year, the company earned $7.68 EPS. The firm’s revenue was up 15.7% compared to the same quarter last year. On average, research analysts anticipate that Broadcom will post 38.06 earnings per share for the current year.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 3,175 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $625.01, for a total transaction of $1,984,406.75. Following the sale, the director now directly owns 9,734 shares of the company’s stock, valued at $6,083,847.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently added to or reduced their stakes in the business. Edmp Inc. increased its position in shares of Broadcom by 56,625.6% during the fourth quarter. Edmp Inc. now owns 4,918,107 shares of the semiconductor manufacturer’s stock valued at $8,796,000 after buying an additional 4,909,437 shares during the period. Norges Bank bought a new stake in shares of Broadcom during the fourth quarter valued at about $2,222,676,000. Moneta Group Investment Advisors LLC increased its position in shares of Broadcom by 122,794.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,667,161 shares of the semiconductor manufacturer’s stock valued at $2,050,420,000 after buying an additional 3,664,177 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of Broadcom by 53.4% during the third quarter. Price T Rowe Associates Inc. MD now owns 3,420,481 shares of the semiconductor manufacturer’s stock valued at $1,528,063,000 after buying an additional 1,191,113 shares during the period. Finally, First Trust Advisors LP increased its position in shares of Broadcom by 159.7% during the third quarter. First Trust Advisors LP now owns 1,104,656 shares of the semiconductor manufacturer’s stock valued at $490,478,000 after buying an additional 679,250 shares during the period. 81.28% of the stock is owned by hedge funds and other institutional investors.

Broadcom Company Profile

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Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.