Broadcom (NASDAQ:AVGO) Upgraded to “Hold” at Hsbc Global Res

Hsbc Global Res upgraded shares of Broadcom (NASDAQ:AVGO) to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Other research analysts also recently issued reports about the stock. Cantor Fitzgerald boosted their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. UBS Group lifted their target price on shares of Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Mizuho upped their price target on shares of Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Benchmark reissued a “buy” rating and set a $210.00 price objective on shares of Broadcom in a research report on Friday, September 6th. Finally, JPMorgan Chase & Co. upped their target price on Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $195.96.

Broadcom Stock Performance

Shares of Broadcom stock opened at $170.47 on Tuesday. Broadcom has a 12 month low of $90.31 and a 12 month high of $186.42. The company has a quick ratio of 0.94, a current ratio of 1.04 and a debt-to-equity ratio of 1.02. The stock has a market cap of $796.19 billion, a PE ratio of 148.23, a price-to-earnings-growth ratio of 1.98 and a beta of 1.13. The business has a fifty day simple moving average of $172.87 and a 200-day simple moving average of $162.51.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period last year, the company posted $0.95 EPS. On average, sell-side analysts anticipate that Broadcom will post 3.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark David Brazeal sold 18,900 shares of the company’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 sale, the insider now owns 380,560 shares of the company’s stock, valued at approximately $69,596,812.80. This represents a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the transaction, the chief executive officer now directly owns 1,331,910 shares of the company’s stock, valued at $217,594,136.70. This represents a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock worth $53,540,590 over the last quarter. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AVGO. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Broadcom during the second quarter worth $128,000. Mark Sheptoff Financial Planning LLC bought a new stake in Broadcom during the 2nd quarter worth about $136,000. American Capital Advisory LLC acquired a new stake in Broadcom in the 2nd quarter valued at about $169,000. Semus Wealth Partners LLC bought a new position in shares of Broadcom in the second quarter worth about $202,000. Finally, Palisades Hudson Asset Management L.P. acquired a new position in shares of Broadcom during the second quarter worth approximately $204,000. Institutional investors own 76.43% of the company’s stock.

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.