In a report released today, Christopher Danely from Citigroup maintained a Buy rating on Broadcom (NASDAQ: AVGO), with a price target of $300. The company’s shares closed yesterday at $264.68.
According to TipRanks.com, Danely is a 4-star analyst with an average return of 8.8% and a 72.4% success rate. Danely covers the Consumer Goods sector, focusing on stocks such as NXP Semiconductors, Texas Instruments, and Qualcomm Inc.
Currently, the analyst consensus on Broadcom is Strong Buy and the average price target is $312.73, representing a 18.2% upside.
In a report issued on May 24, Evercore ISI also initiated coverage with a Buy rating on the stock with a $300 price target.
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The company has a one-year high of $285.68 and a one-year low of $221.98. Currently, Broadcom has an average volume of 3.89M.
Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Kenneth Hao, a Director at AVGO bought 9,854 shares for a total of $348,635.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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