News headlines about Broadcom (NASDAQ:AVGO) have trended positive this week, according to Alpha One. The research group, a unit of Accern, rates the sentiment of press coverage by analyzing more than 20 million news and blog sources. Alpha One ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Broadcom earned a media sentiment score of 0.41 on Alpha One’s scale. Alpha One also gave news coverage about the semiconductor manufacturer an impact score of 40 out of 100, meaning that recent press coverage is unlikely to have an effect on the stock’s share price in the next few days.
These are some of the media stories that may have effected AlphaOne’s analysis:
A number of analysts recently issued reports on the company. Rosenblatt Securities assumed coverage on Broadcom in a research report on Wednesday, February 22nd. They issued a “buy” rating and a $250.00 target price for the company. Royal Bank of Canada reissued a “top pick” rating on shares of Broadcom in a research report on Wednesday, January 18th. Deutsche Bank AG upped their target price on Broadcom from $235.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Jefferies Group LLC upped their target price on Broadcom from $210.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, March 2nd. Finally, Macquarie assumed coverage on Broadcom in a research report on Thursday, March 30th. They issued an “outperform” rating and a $265.00 target price for the company. Three investment analysts have rated the stock with a hold rating, thirty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Broadcom has an average rating of “Buy” and a consensus price target of $230.21.
Broadcom (NASDAQ:AVGO) traded down 3.27% during midday trading on Wednesday, hitting $232.82. The stock had a trading volume of 2,235,391 shares. The firm has a 50 day moving average price of $221.93 and a 200 day moving average price of $199.46. The stock’s market cap is $93.45 billion. Broadcom has a one year low of $140.33 and a one year high of $241.29.
Broadcom (NASDAQ:AVGO) last announced its earnings results on Wednesday, March 1st. The semiconductor manufacturer reported $3.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.02 by $0.61. Broadcom had a negative net margin of 13.13% and a positive return on equity of 22.77%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $4.08 billion. During the same period in the previous year, the business earned $2.41 EPS. The company’s revenue was up 132.8% on a year-over-year basis. Equities analysts expect that Broadcom will post $14.88 EPS for the current year.
In other news, insider Kirsten M. Spears sold 520 shares of the business’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $220.10, for a total transaction of $114,452.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Lake (Offshore) Aiv Gp Silver sold 446,046 shares of the business’s stock in a transaction on Friday, February 17th. The shares were sold at an average price of $210.06, for a total transaction of $93,696,422.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,283,946 shares of company stock worth $274,345,590. Company insiders own 6.20% of the company’s stock.
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Broadcom Company Profile
Broadcom 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 Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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