Broadcom (NASDAQ:AVGO) Coverage Initiated at Evercore ISI

Research analysts at Evercore ISI started coverage on shares of Broadcom (NASDAQ:AVGO - Get Free Report) in a report released on Tuesday, MarketBeat reports. The firm set an "outperform" rating and a $1,620.00 price target on the semiconductor manufacturer's stock. Evercore ISI's target price indicates a potential upside of 21.89% from the company's current price.

Other analysts have also issued reports about the stock. Oppenheimer reiterated an "outperform" rating and set a $1,500.00 target price (up from $1,100.00) on shares of Broadcom in a research report on Friday, March 1st. Rosenblatt Securities reiterated a "buy" rating and issued a $1,500.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Susquehanna increased their target price on Broadcom from $1,400.00 to $1,550.00 and gave the stock a "positive" rating in a report on Wednesday, February 28th. Barclays initiated coverage on Broadcom in a research note on Wednesday, March 20th. They issued an "overweight" rating and a $1,405.00 price target on the stock. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and set a $1,700.00 price objective on shares of Broadcom in a research note on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $1,281.09.

Broadcom Stock Performance

AVGO stock traded up $18.37 during trading on Tuesday, reaching $1,329.06. 1,890,746 shares of the stock were exchanged, compared to its average volume of 2,960,501. The stock has a 50 day simple moving average of $1,306.49 and a 200-day simple moving average of $1,114.01. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $615.91 billion, a P/E ratio of 49.26, a price-to-earnings-growth ratio of 2.74 and a beta of 1.25. Broadcom has a twelve month low of $601.29 and a twelve month high of $1,438.17.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $8.95 by $2.04. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. The business had revenue of $11.96 billion for the quarter, compared to analysts' expectations of $11.79 billion. During the same period in the previous year, the business posted $9.83 earnings per share. Broadcom's quarterly revenue was up 34.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Broadcom will post 35.95 earnings per share for the current year.

Insider Buying and Selling

In other Broadcom news, Director Justine Page sold 110 shares of the company's stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total transaction of $145,530.00. Following the transaction, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Kenneth Hao sold 9,160 shares of Broadcom stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $1,388.13, for a total transaction of $12,715,270.80. Following the completion of the sale, the director now directly owns 45 shares of the company's stock, valued at $62,465.85. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Justine Page sold 110 shares of the stock in a transaction dated Wednesday, April 10th. The shares were sold at an average price of $1,323.00, for a total value of $145,530.00. Following the completion of the transaction, the director now directly owns 3,125 shares in the company, valued at approximately $4,134,375. The disclosure for this sale can be found here. Insiders sold a total of 29,920 shares of company stock worth $40,306,667 over the last three months. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Broadcom

Institutional investors and hedge funds have recently modified their holdings of the stock. Horizon Family Wealth Inc. grew its position in shares of Broadcom by 1.3% during the 4th quarter. Horizon Family Wealth Inc. now owns 640 shares of the semiconductor manufacturer's stock valued at $715,000 after acquiring an additional 8 shares during the period. Tucker Asset Management LLC grew its holdings in Broadcom by 12.5% during the fourth quarter. Tucker Asset Management LLC now owns 72 shares of the semiconductor manufacturer's stock valued at $80,000 after purchasing an additional 8 shares during the period. Buckley Wealth Management LLC increased its position in Broadcom by 0.7% in the first quarter. Buckley Wealth Management LLC now owns 1,153 shares of the semiconductor manufacturer's stock worth $1,529,000 after buying an additional 8 shares during the last quarter. BetterWealth LLC raised its stake in shares of Broadcom by 1.5% in the fourth quarter. BetterWealth LLC now owns 602 shares of the semiconductor manufacturer's stock valued at $672,000 after buying an additional 9 shares during the period. Finally, Sargent Investment Group LLC lifted its position in shares of Broadcom by 1.6% during the 4th quarter. Sargent Investment Group LLC now owns 557 shares of the semiconductor manufacturer's stock valued at $622,000 after buying an additional 9 shares during 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.