Morgan Stanley Has Lowered Expectations for Broadcom (NASDAQ:AVGO) Stock Price

Broadcom (NASDAQ:AVGO) had its price objective reduced by stock analysts at Morgan Stanley from $265.00 to $246.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor manufacturer’s stock. Morgan Stanley’s target price indicates a potential upside of 19.21% from the company’s previous close.

A number of other equities analysts have also weighed in on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $240.00 price target on shares of Broadcom in a research report on Wednesday, December 11th. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Barclays upped their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Citigroup upped their price objective on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Susquehanna increased their price target on Broadcom from $200.00 to $225.00 and gave the company a “positive” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Trading Down 0.5 %

NASDAQ:AVGO opened at $206.35 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom has a one year low of $117.43 and a one year high of $251.88. The business’s 50-day simple moving average is $210.37 and its 200 day simple moving average is $181.05. The stock has a market cap of $967.24 billion, a price-to-earnings ratio of 168.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating the consensus estimate of $1.39 by $0.03. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 earnings per share. As a group, sell-side analysts predict that Broadcom will post 5.38 earnings per share for the current fiscal year.

Insider Activity at Broadcom

In related news, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total value of $10,798,200.00. Following the completion of the transaction, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the completion of the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. The trade was a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock valued at $44,964,800 over the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Trading of Broadcom

Institutional investors and hedge funds have recently modified their holdings of the business. MGB Wealth Management LLC boosted its holdings in Broadcom by 1.4% in the fourth quarter. MGB Wealth Management LLC now owns 37,796 shares of the semiconductor manufacturer’s stock worth $8,808,000 after purchasing an additional 511 shares during the last quarter. One Plus One Wealth Management LLC grew its holdings in Broadcom by 2.1% during the fourth quarter. One Plus One Wealth Management LLC now owns 4,222 shares of the semiconductor manufacturer’s stock valued at $979,000 after purchasing an additional 85 shares during the period. Morris Financial Concepts Inc. raised its stake in shares of Broadcom by 6.8% in the fourth quarter. Morris Financial Concepts Inc. now owns 1,305 shares of the semiconductor manufacturer’s stock worth $303,000 after buying an additional 83 shares during the period. Tranquility Partners LLC grew its stake in shares of Broadcom by 10.0% during the 4th quarter. Tranquility Partners LLC now owns 6,536 shares of the semiconductor manufacturer’s stock valued at $1,515,000 after acquiring an additional 594 shares during the period. Finally, Phraction Management LLC bought a new position in Broadcom in the 4th quarter worth $232,000. Institutional investors own 76.43% of the company’s stock.

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.