After Morgan Stanley and Merrill Lynch gave Broadcom (NASDAQ: AVGO) a Buy rating last month, the company received another Buy, this time from Rosenblatt Securities. Analyst Hans Mosesmann maintained a Buy rating on Broadcom today and set a price target of $350.00. The company’s shares closed last Wednesday at $223.63.
According to TipRanks.com, Mosesmann is a 5-star analyst with an average return of 10.9% and a 52.8% success rate. Mosesmann covers the Consumer Goods sector, focusing on stocks such as Texas Instruments, Monolithic Power, and Lattice Semicon.
Broadcom has an analyst consensus of Strong Buy, with a price target consensus of $297.00, which is a 30.3% upside from current levels. In a report issued on March 18, Daiwa also upgraded the stock to Buy with a $215.00 price target.
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Broadcom’s market cap is currently $89.41B and has a P/E ratio of 39.20. The company has a Price to Book ratio of -2.34.
Based on the recent corporate insider activity of 65 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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