Broadcom (AVGO) Gets a Buy Rating from Susquehanna


Susquehanna analyst Christopher Rolland maintained a Buy rating on Broadcom (AVGO) on July 16 and set a price target of $360.00. The company’s shares closed last Thursday at $309.67, close to its 52-week high of $331.58.

According to TipRanks.com, Rolland is a 5-star analyst with an average return of 14.3% and a 68.6% success rate. Rolland covers the Technology sector, focusing on stocks such as Advanced Micro Devices, NXP Semiconductors, and Power Integrations.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Broadcom with a $352.50 average price target, a 12.5% upside from current levels. In a report issued on July 8, J.P. Morgan also maintained a Buy rating on the stock.

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The company has a one-year high of $331.58 and a one-year low of $155.67. Currently, Broadcom has an average volume of 2.32M.

Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVGO in relation to earlier this year.

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.

Broadcom, Inc. is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions, Infrastructure Software and IP licensing. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications. The Infrastructure Software segment provides a portfolio of mainframe, enterprise and storage area networking solutions. The IP licensing segment licenses a portion of its broad IP portfolio. The company was founded in 1961 and is headquartered in San Jose, CA.

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