Morgan Stanley Keeps Their Buy Rating on Broadcom (AVGO)
Morgan Stanley analyst Craig Hettenbach reiterated a Buy rating on Broadcom (AVGO) today and set a price target of $333.00. The company’s shares closed last Tuesday at $260.59.
According to TipRanks.com, Hettenbach is a 5-star analyst with an average return of 14.8% and a 58.0% success rate. Hettenbach covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Maxim Integrated, and TE Connectivity.
Currently, the analyst consensus on Broadcom is a Strong Buy with an average price target of $297.00, which is a 13.4% upside from current levels. In a report issued on March 31, KeyBanc also maintained a Buy rating on the stock with a $290.00 price target.
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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 3.64M.
Based on the recent corporate insider activity of 56 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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