Broadcom Ltd (AVGO) Q4 Profit Beats; Revenue In-Line; Forecast Tops Estimates

Broadcom Beats Quarterly Sales, Earnings Targets; Shares Tick Up

As per Friday, June 3, the company rating was maintained by Jefferies. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $241.47. Broadcom Limited (avgo) has 0.00% since December 6, 2016 and is. Loop Capital reaffirmed a "buy" rating and set a $302.00 price objective on shares of Broadcom in a research report on Friday, August 25th.

Revenues rose 17.1% from a year ago to $4.84 billion, matching analysts' view for $4.84 billion. Shine Investment Advisory Services Inc. acquired a new position in shares of Broadcom during the 2nd quarter worth approximately $116,000. Fisher Asset Management LLC purchased a new position in shares of Broadcom in the second quarter valued at about $250,000. The stock now has a consensus rating of "Buy" and an average price target of $293.51.

Looking ahead, Broadcom forecast fiscal Q1 revenues of $5.225 to $5.375 billion, well ahead of the $4.83 billion that Wall Street is looking for.

In related news, CEO Hock E. Tan sold 65,000 shares of the stock in a transaction that occurred on Monday, March 6th. About 4.13 million shares traded or 37.98% up from the average. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

In other Broadcom news, CFO Thomas H. Krause sold 2,595 shares of the firm's stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $220.00, for a total transaction of $2,905,540.00. The disclosure for this sale can be found here. Insiders sold 104,383 shares of company stock valued at $25,949,184 in the last three months. That compares with a 36 per cent gain by the Philadelphia Stock Exchange Semiconductor Index. Capital Research Global Investors is the second biggest holder with 30 million shares now valued at 6.91 B million whilst Vanguard Group Inc has 28 million shares valued at 6.42 B million. Wagner Bowman Mngmt owns 1,248 shares.

At the moment 29 analysts are watching Broadcom Limited (NASDAQ:AVGO), 12 rate it "Buy", 16 "Outperform", 1 "Underperform", 0 "Sell", while 0 "Hold". The firm's revenue for the quarter was up 17.1% on a year-over-year basis. equities research analysts predict that Broadcom Limited will post 13.93 earnings per share for the current year. Eqis Capital Management Inc., a California-based fund reported 16,082 shares. Wellington Management Group LLP now owns 6,710,760 shares of the semiconductor manufacturer's stock worth $1,469,388,000 after buying an additional 1,519,598 shares in the last quarter. Jennison Associates LLC now owns 4,201,357 shares of the semiconductor manufacturer's stock worth $919,929,000 after buying an additional 3,782,991 shares in the last quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Broadcom Limited has its outstanding Shares of 398.53 Million. 10,861,291 shares of the company's stock traded hands.

Broadcom's profit was boosted by sales of smartphone parts to "a large North American smartphone customer", presumably Apple Inc., which offset weakness in its core wired-infrastructure business. The stock was sold at an average price of $246.48, for a total transaction of $4,929,600.00. The stock has a market cap of $107,547.45, a price-to-earnings ratio of 19.92, a PEG ratio of 1.27 and a beta of 1.05. Investors bought 838 call options on the company. The semiconductor manufacturer reported $4.59 EPS for the quarter, beating the Zacks' consensus estimate of $4.49 by $0.10. During the same period in the previous year, the firm posted $2.53 earnings per share.

Revenue from its wireless communications business jumped 33.4 percent to $1.80 billion.

Net revenue rose to $4.84 billion from $4.14 billion.

Related News:

  • Trending Stocks in Review: AT&T, Inc. (T), Alibaba Group Holding Limited (BABA)

    Sandler Capital Management decreased Spdr Series Trust (XBI) stake by 111,200 shares to 48,800 valued at $3.77 million in 2017Q2. The stock witnessed -7.78% declines, 0.49% gains and 34.48% gains for the 1-month, 3-month and 6-month period, respectively.
    U.S.  flies supersonic heavy bomber over Korean Peninsula

    U.S. flies supersonic heavy bomber over Korean Peninsula

    They are taking place as a top United Nations official and former USA diplomat begins a high-level visit to North Korea. But at the same time, there is absolutely no reason to be alarmed", the Global Times said.
    Skilled Nursing Spending Growth Slowed in 2016

    Skilled Nursing Spending Growth Slowed in 2016

    Spending on retail prescription drugs grew 1.3 percent in 2016 compared with 12.4 percent in 2014 and 8.9 percent in 2015. Still, health spending continues to outpace overall spending on goods and services, which increased 2.8 percent in 2016.
  • Buyer of $450M da Vinci painting has art world abuzz

    Buyer of $450M da Vinci painting has art world abuzz

    Salvator Mundi has a controversial history , with at least one expert doubting that it is the work of Renaissance master da Vinci. Bader has spent large sums on several ritzy commodities in recent years, including half a billion dollars on a 440-foot yacht.
    Stipe Miocic vs. Francis Ngannou Set For UFC 220 on January  20

    Stipe Miocic vs. Francis Ngannou Set For UFC 220 on January 20

    The only time both undisputed titles were on the line on the same night was at UFC 44 in September 2003. The person spoke on the condition of anonymity because the UFC had yet to make its plans public.
    Premier League, Manchester Derby: Suspension, ban verdicts for Paul Pogba, Pep Guardiola

    Premier League, Manchester Derby: Suspension, ban verdicts for Paul Pogba, Pep Guardiola

    Pogba was dismissed in the 74th minute of Saturday's 3-1 victory for his challenge on Gunners defender Hector Bellerin. The wheels look as if they are coming off Tottenham Hotspur's hopes of making it into the top four this season.
  • Minnesota Timberwolves vs Los Angeles Clippers: Lineups, preview & prediction 12/6/17

    Minnesota Timberwolves vs Los Angeles Clippers: Lineups, preview & prediction 12/6/17

    Griffin is expected to be sidelined for up two months. "It's just been a steady progression I think", Thibodeau said. The Timberwolves need a bit more from their starting point guard offensively to get back on track.
    Twins get players from Mariners, Angels for global  bonus money

    Twins get players from Mariners, Angels for global bonus money

    A delegation from the Mariners met with Ohtani on Tuesday in Los Angeles at the offices of Creative Artists Agency. The Angels , who last week picked up $1.21 million in a trade with the Braves , are up to $2.315 million.
    First responder to Pulse nightclub massacre could face pension cut

    First responder to Pulse nightclub massacre could face pension cut

    At the Eatonville Town Council's meeting on Tuesday, the council moved to remove him from the force completely. Delgado says he doesn't understand the department's decision to terminate him without his full benefits.
  • Delhi govt to follow court orders on odd-even exemptions

    Delhi govt to follow court orders on odd-even exemptions

    A Bench headed by NGT chairperson Swatanter Kumar said that the expenses will be borne by the authorities in a 70:30 ratio. Chaning its stand on the odd-even policy, the government in its action plan does not mention any exemption for women.

    Analyst Ideas For Two Stocks: Morgan Stanley (MS), PPG Industries, Inc. (PPG)

    Following the transaction, the president now directly owns 692,037 shares of the company's stock, valued at $35,010,151.83. Analysts are also projecting an Average Revenue Estimate for Morgan Stanley as $9.28 Million in the Current Quarter.
    Former Oilers QB charged with drugging woman, assaulting her

    Former Oilers QB charged with drugging woman, assaulting her

    Moon, 61, had a prolific career as a football player, spending six years in the CFL before a 17-year stint in the NFL. According to Haskell, she was required to share a room and sleep in the same bed as Moon on all business trips.


Most liked

Morgan Stanley Trims Western Gas Partners (WES) Target Price to $51.00
As per Monday, March 27, the company rating was maintained by Benchmark. (NASDAQ:LPCN) on Wednesday, August 12 with "Buy" rating . Carlson Capital LP increased National Retail Pptys Inc (NYSE:NNN) stake by 560,304 shares to 581,004 valued at $22.72M in 2017Q2.

"Shazam!" Casts "IT" Movie's Jack Dylan Grazer
Sandberg is directing from a script by Darren Lemke ( Jack the Giant Slayer ) and Henry Gayden ( Earth to Echo ). Freddy is Billy Batson's best friend and the only person who knows the truth about Shazam .

Walgreens Boots Alliance (WBA) CMF Pushes Into Positive Territory
The sales growth rate for a stock is a measure of how the stock's sales per share (SPS) has grown over a specific period of time. The pharmacy operator reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.10.

Newborn dies 7 days after mistakenly declared dead by Delhi hospital
While we understand that survival in extreme preterm births is rare, it is always painful for the parents and family. November 30, Ashish Kumar's wife gave birth to premature twins (boy and girl) at Max hospital in Shalimar Bagh.

Rangers to pay around £1 million to land Derek McInnes and assistant
McInnes is under contract until 2020 after signing a new deal along with No2 Tony Docherty in the summer as they rejected a move to Sunderland.

Jeffrey Tambor Says He Hasn't Actually Quit 'Transparent' After All
She claimed that the actor cornered her and thrust himself "back and forth against my body" before she pushed him off. Lysette said she hoped the show would evolve to focus on transgender experiences beyond those of Mr.

Ryan Reynolds is Detective Pikachu
The film is being distributed by Universal, but a North American release date has not yet been announced . There are even some weird mashups that have been floating around for years that are especially prescient.

Romarinho strike sends Al Jazira through
Auckland City defender Angel Berlanga wants the Navy Blues to put everything on the line against the UAE side. Romarinho, linking well with Ali Mabkhout, converted Al Jazira's first shot of the night in lethal fashion.

Breast Cancer: Birth Control May Increase Risk By Up To 38 Percent
They include smoking, obesity, starting menstruation early, having children late in life or not at all and not breastfeeding. That roughly translates to a 12 percent lifetime risk for a woman, although many factors affect breast cancer risk.

Arshi wants to be captain
While we have seen physical assaults in previous seasons, we have never witnessed sexual assault on any woman. Priyank and Luv will also have a fight after Priyank says that that he and Luv are no longer friends.

Big Update On Ronda Rousey's WWE Future
She was subdued and mostly absent from promotion leading up to the Nunes fight and has largely shunned the spotlight since. The level of intrigue with Rousey has actually increased since she started losing.

PUBG's desert map is called Miramar, full details revealed
The crates will be up for grabs for whoever gets to them first, and they'll be filled with all sorts of goodies. Microsoft has announced that the first of three exclusive DLC packs for the game is about to go on sale.

Stokes fails to fire again for Canterbury
It remains to be seen if Stokes and Hales are allowed to participate in what could be a gruelling series for the visitors. Whether it's any more of a circus than it's already been, it's hard to say. "I can't see any changes there personally".

Trump recognizes Jerusalem as Israeli capital, instructs embassy relocation process
Consulate General in Jerusalem tweeted on Tuesday that U.S. citizens should avoid areas where crowds have gathered to demonstrate. The Palestinian movement Hamas - said Trump's decision opens "the gates of hell on U.S. interests in the region ".

Former WKU Coach Heads To Florida
Florida State also agreed to pay the remaining $1.37 million left on his buyout to USF, and the $3 million buyout owed to Oregon. Yahoo Sports reporter Pete Thamel reported Taggart's contract is a six-year, $30 million deal , according to sources.