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etvfutures.com December 17, 2017


Broadcom Limited (AVGO) Holdings Boosted by First Republic Investment Management Inc

08 December 2017, 04:27 | Brandon Parsons

Broadcom +4.4% as wireless chips drive Q4 beat, strong guidance

Broadcom Beats Quarterly Sales, Earnings Targets; Shares Tick Up

The lowest target is $190.0 while the high is $215.0. Broadcom now has a consensus rating of "Buy" and a consensus target price of $293.51. The rating was maintained by Canaccord Genuity with "Buy" on Friday, June 3. The firm has "Buy" rating given on Wednesday, October 11 by SunTrust. The firm has "Buy" rating given on Friday, December 9 by M Partners.

In other news, CFO Thomas H. Krause sold 2,595 shares of the firm's stock in a transaction dated Thursday, November 16th.

IBD'S TAKE: Broadcom stock broke out of a 10-week flat base with a buy point of 259.46 on October 30. The company presently has a consensus rating of "Buy" and an average price target of $228.54. Oppenheimer maintained Broadcom Limited (NASDAQ:AVGO) on Friday, June 3 with "Outperform" rating. As per Wednesday, September 27, the company rating was maintained by Cowen & Co. The stock has "Buy" rating by Mizuho on Friday, September 2. The P/S ratio for Broadcom Limited is 6.21. AVGO's total short interest was 3.24M shares in December as published by FINRA. Its up 4.38% from 109,700 shares previously. (NASDAQ:SIRI) earned "Market Perform" rating by Telsey Advisory on Friday, February 3.

The Nasdaq had slipped 1.6 percent in the past three days, its worst such fall in more than three months amid doubts over stretched valuations and the impact of a US tax overhaul on corporate earnings. During the regular session, Broadcom rose 0.9% to 263.89.

The company during the last trade was able to reach a volume of 4.68 million shares. Chembio Diagnostics, Inc. (NASDAQ:CEMI) has declined 22.25% since December 7, 2016 and is downtrending. The firm's market cap is $96.60 billion. The company's stock had a trading volume of 1,812,837 shares.

Investors sentiment increased to 1.13 in Q2 2017. Its the same as in 2017Q1.

Broadcom Beats Quarterly Sales, Earnings Targets; Shares Tick Up

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, December 6th. AllSquare Wealth Management LLC bought a new stake in shares of Broadcom during the third quarter valued at approximately $113,000. Rosenblatt Securities restated a buy rating and set a $270.00 price objective on shares of Broadcom in a research note on Wednesday, August 23rd. Vantage Inv Advisors Lc holds 0% in Broadcom Limited (NASDAQ:AVGO) or 12 shares. The share price volatility of the stock remained at 1.02% for the month and by reducing the timeframe to just a week, the volatility stood at 0.91%. Gemmer Asset Mgmt Ltd Liability Corp accumulated 94 shares or 0.01% of the stock.

Equities analysts expect Broadcom Ltd (NASDAQ:AVGO) to announce sales of $4.1 billion for the current fiscal quarter, according to Zacks. Mitchell Mcleod Pugh Williams, Alabama-based fund reported 2,688 shares. Vetr raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $258.25 price target for the company in a report on Monday, August 14th.

In a conference call with analysts, Broadcom offered little about the hostile bid aside from saying it aims to "engage in a constructive dialogue", has received positive shareholder and customer reactions, and believes it can complete a transaction, including regulatory approvals, within 12 months of striking a deal.

Shares of Broadcom rose 5 percent in extended trading after the company also forecast first-quarter revenue largely above analysts' estimates. AVGO's profit would be $1.69B giving it 16.83 P/E if the $3.92 EPS is correct. The business's revenue was up 17.1% compared to the same quarter last year. sell-side analysts anticipate that Broadcom Limited will post 13.93 EPS for the current fiscal year.

Broadcom Limited designs, develops, and supplies a range of semiconductor devices worldwide. Operating expenses were roughly flat quarter-on-quarter, going to United States dollars 1.518 billion from 1.501 billion, though they declined from the year before's figure of 1.790 billion. It focuses on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. It has a 205.41 P/E ratio. The firm operates through four divisions: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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