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Broadcom Limited (AVGO) Holdings Boosted by First Republic Investment Management Inc
08 December 2017, 02:03 | Jodi Jackson
Stock under Analysis: Broadcom Limited (AVGO)
Broadcom (NASDAQ:AVGO) had its price target hoisted by Mizuho from $290.00 to $310.00 in a research note issued on Thursday. That activity is comparable to their recent volume average trend of almost 2.99 million shares which they recorded over a period of three months. Craig Hallum's price objective suggests a potential upside of 25.05% from the company's previous close. A number of brokerages recently issued reports on AVGO. Zacks Investment Research lowered Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, May 2nd. The firm has "Buy" rating given on Friday, December 9 by Mizuho. RBC Capital Markets maintained the stock with "Sector Perform" rating in Monday, October 26 report. Eight equity analysts rating the company a strong buy, twenty-one equity analysts rating the company a buy, zero equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $193.31. The stock now has a consensus rating of "Buy" and an average target price of $293.51.
Broadcom (AVGO) traded up $2.24 during mid-day trading on Thursday, hitting $263.89. Scott & Selber invested 2.33% of its portfolio in Broadcom Limited (NASDAQ:AVGO). The company had Year Ago Sales of 1.66 Billion. Broadcom is aiming for a gross margin, the per centage of sales remaining after deducting costs of production, of 65 per cent, 5 percentage points higher that it had expected.
Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, December 6th. Cibc World Mkts holds 0.25% or 102,545 shares in its portfolio. The company had revenue of $4.84 billion during the quarter, compared to analyst estimates of $4.84 billion. The Return on Equity (ROE) and Return on Investment values are 2.7 percent and -3.6 percent respectively. Broadcom's revenue for the quarter was up 17.1% on a year-over-year basis.
In related news, SVP Bryan Ingram sold 30,000 shares of the company's stock in a transaction on Thursday, September 14th. The stock's average target of $4.76 is -15.00% below today's ($5.6) share price. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Hock E. Tan sold 20,000 shares of the firm's stock in a transaction dated Friday, September 15th. The net result, which includes the impact of discontinued operations, moved to a profit of Dollars 671 million or USD 1.50 per diluted share, from a loss the year earlier of 668 million, or 1.59 per diluted share. The disclosure for this sale can be found here. Corporate insiders own 3.60% of the company's stock.
Other institutional investors and hedge funds have also modified their holdings of the company. Finally, Carroll Financial Associates Inc. increased its holdings in shares of Broadcom by 59.0% during the third quarter. Mountain Capital Investment Advisors Inc bought a new stake in shares of Broadcom during the second quarter valued at approximately $113,000. Mitchell Mcleod Pugh Williams, Alabama-based fund reported 2,688 shares. Jennison Associates LLC raised its stake in Broadcom by 26.7% in the second quarter. Balasa Dinverno & Foltz Llc accumulated 1,640 shares or 0.06% of the stock. Vanguard Group Inc. now owns 27,561,770 shares of the semiconductor manufacturer's stock worth $6,423,271,000 after buying an additional 793,335 shares in the last quarter.
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Broadcom Company ProfileBroadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The firm operates through four divisions: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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