Broadcom (NASDAQ:AVGO) Raised to "Hold" at Hsbc Global Res

Broadcom (NASDAQ:AVGO - Get Free Report) was upgraded by Hsbc Global Res to a "hold" rating in a research report issued on Tuesday,Zacks.com reports.

Several other research analysts have also issued reports on AVGO. UBS Group raised their price target on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Truist Financial raised their price target on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. TD Cowen upgraded shares of Broadcom to a "strong-buy" rating in a research note on Monday, September 16th. William Blair began coverage on shares of Broadcom in a research note on Wednesday, September 18th. They issued an "outperform" rating for the company. Finally, Rosenblatt Securities reduced their price target on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating for the company in a research report on Friday, September 6th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and a consensus price target of $195.96.

Broadcom Trading Down 0.1 %

Shares of Broadcom stock traded down $0.09 on Tuesday, hitting $170.47. The stock had a trading volume of 18,450,936 shares, compared to its average volume of 28,994,131. The stock has a 50 day moving average of $173.02 and a 200 day moving average of $162.31. Broadcom has a twelve month low of $90.31 and a twelve month high of $186.42. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The firm has a market capitalization of $796.19 billion, a P/E ratio of 148.23, a PEG ratio of 1.98 and a beta of 1.13.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.98 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The firm's revenue was up 47.3% compared to the same quarter last year. Sell-side analysts expect that Broadcom will post 3.78 earnings per share for the current fiscal year.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the business's stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the sale, the insider now directly owns 737,330 shares in the company, valued at approximately $133,781,155.20. The trade was a 2.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the business's stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the completion of the sale, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. This represents a 4.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last ninety days. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Broadcom

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVGO. Castleview Partners LLC increased its position in shares of Broadcom by 1,030.8% during the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 134 shares during the period. Pin Oak Investment Advisors Inc. increased its position in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 135 shares during the period. JDM Financial Group LLC increased its position in shares of Broadcom by 1,323.1% during the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer's stock valued at $32,000 after buying an additional 172 shares during the period. Tsfg LLC increased its position in shares of Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 204 shares during the period. Finally, Cedar Wealth Management LLC grew its holdings in shares of Broadcom by 900.0% during the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer's stock worth $41,000 after purchasing an additional 216 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors.

About Broadcom

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.