Is Broadcom (NASDAQ:AVGO) Now a ‘Buy’? Why did BofA Merrill Upgrade The Stock?

September 8, 2018 - By Margaret Guttierez

Broadcom Inc. (NASDAQ:AVGO) Logo

Investors sentiment decreased to 0.67 in Q1 2018. Its down 1.00, from 1.67 in 2017Q4. It is negative, as 1 investors sold Broadcom Inc. shares while 2 reduced holdings. 0 funds opened positions while 2 raised stakes. 198,376 shares or 0.33% more from 197,722 shares in 2017Q4 were reported.

Gemmer Asset Mngmt Ltd, California-based fund reported 127 shares. First State Bank Of Omaha stated it has 38,700 shares or 0.23% of all its holdings. 134,755 are held by Cibc World Mkts. Moreover, Wagner Bowman has 0.08% invested in Broadcom Inc. (NASDAQ:AVGO) for 1,266 shares. Balasa Dinverno & Foltz Limited Liability holds 0.06% or 1,598 shares in its portfolio. Eqis Capital Management Inc holds 19,010 shares or 0.23% of its portfolio. Mitchell Mcleod Pugh Williams accumulated 2,908 shares or 0.49% of the stock. Vantage Investment Lc reported 0% stake.

Broadcom (NASDAQ:AVGO) Stock Upgrade

New York-listed Broadcom (NASDAQ:AVGO), was raised by stock analysts at BofA Merrill. The firm raised its rating on the $97.26B market capitalized company to a respectable Buy from their past rating of Neutral.

Broadcom Inc. (NASDAQ:AVGO) Ratings Coverage

Among 35 analysts covering Broadcom (NASDAQ:AVGO), 27 have Buy rating, 0 Sell and 8 Hold. Therefore 77% are positive. Broadcom has $350 highest and $220 lowest target. $300.74’s average target is 29.31% above currents $232.58 stock price. Broadcom had 61 analyst reports since March 12, 2018 according to SRatingsIntel. On Friday, April 13 the stock rating was maintained by J.P. Morgan with “Buy”. The rating was reinitiated by Cowen & Co with “Outperform” on Thursday, May 17. On Monday, March 26 the stock rating was maintained by Barclays Capital with “Overweight”. The rating was maintained by Bernstein with “Buy” on Tuesday, May 1. The stock has “Buy” rating by M Partners on Friday, June 8. The rating was maintained by JP Morgan on Tuesday, May 1 with “Overweight”. The stock has “Buy” rating by B. Riley & Co on Tuesday, May 1. The firm earned “Buy” rating on Thursday, March 15 by Canaccord Genuity. FBR Capital downgraded Broadcom Inc. (NASDAQ:AVGO) rating on Thursday, July 12. FBR Capital has “Neutral” rating and $245 target. The firm earned “Buy” rating on Thursday, March 15 by Deutsche Bank.

The stock increased 7.69% or $16.61 during the last trading session, reaching $232.58. About 9.63M shares traded or 88.44% up from the average. Broadcom Inc. (NASDAQ:AVGO) has risen 3.81% since September 8, 2017 and is uptrending. It has underperformed by 8.76% the S&P500.

Broadcom Limited designs, develops, and supplies a range of semiconductor devices worldwide. The company has market cap of $97.26 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 8.37 P/E ratio. The firm operates through four divisions: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

More notable recent Broadcom Inc. (NASDAQ:AVGO) news were published by: Seekingalpha.com which released: “Microchip: An Undervalued Stock Offering Low Uncertainty” on September 07, 2018, also 247Wallst.com with their article: “How Broadcom Stockholders Have Profited From Failed Qualcomm Deal” published on September 07, 2018, Nasdaq.com published: “5 Top Stock Trades for Monday — Should You Buy Tesla Stock Now?” on September 08, 2018. More interesting news about Broadcom Inc. (NASDAQ:AVGO) were released by: Seekingalpha.com and their article: “Semi stocks limp towards the weekend” published on September 07, 2018 as well as Marketwatch.com‘s news article titled: “Broadcom stock rises after analysts cheer clarity on CA deal” with publication date: September 07, 2018.

Broadcom Inc. (NASDAQ:AVGO) Ratings Chart

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