Could Broadcom Limited Ord (NASDAQ:AVGO) Change Direction After Less Shorts?
Could Broadcom Limited Ord (NASDAQ:AVGO) Change Direction After Less Shorts?
Stock under Analysis: Broadcom Limited (AVGO)
08 December, 2017, 02:06
On back of even higher confidence following robust execution for the quarter, the analyst reiterates a Buy rating on AVGO stock while lifting the price target from $313 to $317, which represents a 15% increase from current levels.
According to Zacks, analysts expect that Broadcom will report full-year sales of $4.1 billion for the current year, with estimates ranging from $16.5 billion to $17.44 billion. The company was maintained on Friday, June 2 by DA Davidson. RBC Capital Markets maintained the shares of AVGO in report on Thursday, August 10 with "Buy" rating. Craig Hallum restated a buy rating on shares of Broadcom in a report on Wednesday, September 13th. As per Tuesday, October 25, the company rating was maintained by UBS. Jefferies maintained Broadcom Limited (NASDAQ:AVGO) rating on Thursday, August 27. Canaccord Genuity has "Buy" rating and $27200 target. KeyBanc Capital Markets maintained Broadcom Limited (NASDAQ:AVGO) on Monday, August 21 with "Buy" rating. Finally, Susquehanna Bancshares raised their target price on Broadcom from $300.00 to $325.00 and gave the stock a "positive" rating in a report on Wednesday. The rating was initiated by Gabelli on Friday, September 18 with "Buy".
With a total market value of $0, Broadcom has price-earnings ratio of 192.61 with a one year low of $160.62 and a one year high of $259.36. AVGO's total short interest was 3.24M shares in December as published by FINRA. During the same quarter in the previous year, the firm earned $3.47 earnings per share. The SI to Chembio Diagnostics Incorporated's float is 1.08%.
While looking at the Stock's Performance, Nielsen Holdings plc now shows a Weekly Performance of 1.01%, where Monthly Performance is 2.69%, Quarterly performance is -2.95%, 6 Months performance is -0.08% and yearly performance percentage is -10.8%. About 5 shares traded. Visa Inc. (NYSE:V) has risen 20.29% since December 7, 2016 and is uptrending. It has underperformed by 38.95% the S&P500.
The company during the last trade was able to reach a volume of 4.68 million shares. The companyÂ's products include lateral flow rapid HIV tests and Dual Path Platform (DPP) HIV 1/2 Assay Test, which detect antibodies to HIV 1 and 2 with visually interpreted results; a DPP HIV-Syphilis multiplex test for the detection of antibodies to HIV and syphilis; and a test for the detection of Hepatitis-C.
Broadcom raised its interim dividend by 72 percent quarter-on-quarter to United States dollars 1.75 after revenues for its fourth quarter hit the high end of expectations and following a very strong fiscal 2017. Its the same as in 2017Q1. Currently Broadcom Limited (NASDAQ:AVGO)'s shares owned by insiders are 0.10%, whereas shares owned by institutional owners are 91.20%. 179,559 shares or 50.22% more from 119,529 shares in 2017Q1 were reported. First Republic Investment Management Inc. owned 0.07% of Broadcom worth $72,574,000 as of its most recent SEC filing.
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Alabama-based Mitchell Mcleod Pugh Williams has invested 0.48% in Broadcom Limited (NASDAQ:AVGO). Balasa Dinverno & Foltz Llc accumulated 1,640 shares or 0.06% of the stock. Gemmer Asset Mgmt holds 0.01% or 94 shares in its portfolio.
Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, March 1st.
Broadcom says it will continue to target long-term annual revenue growth of 5%, but raise its target for non-GAAP gross margin to 65% and for non-GAAP operating margin to 47.5%. AVGO's profit would be $1.69B giving it 16.83 P/E if the $3.92 EPS is correct.
Broadcom Limited designs, develops, and supplies a range of semiconductor devices worldwide. The company had Year Ago Sales of 1.66 Billion.
It is common practice for investors to use the price-to-earnings ratio (P/E ratio or price multiple) to determine if a company's stock price is over or undervalued.
Broadcom makes chips for wired and wireless communications, enterprise storage, and industrial markets.
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