The $4.1 Billion in Sales Expected for Broadcom Ltd (AVGO) This Quarter

The $4.1 Billion in Sales Expected for Broadcom Ltd (AVGO) This Quarter

According to Zacks, analysts expect that Broadcom will report full-year sales of $4.1 billion for the current year, with estimates ranging from $16.5 billion to $17.44 billion. For the next year, analysts expect that the business will report sales of $17.94 billion per share, with estimates ranging from $17.5 billion to $19.33 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Broadcom.

Equities analysts expect Broadcom Ltd (NASDAQ:AVGO) to announce sales of $4.1 billion for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Broadcom’s earnings, with the lowest sales estimate coming in at $4.1 billion and the highest estimate coming in at $4.12 billion. Broadcom reported sales of $3.54 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 15.8%. The business is scheduled to announce its next earnings report after the market closes on Thursday, June 1st.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Wednesday, March 1st. The semiconductor manufacturer reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.61. Broadcom had a positive return on equity of 22.77% and a negative net margin of 13.13%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the business earned $2.41 EPS. The business’s revenue was up 132.8% on a year-over-year basis. A number of brokerages recently issued reports on AVGO. Jefferies Group LLC raised their price target on Broadcom from $210.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, March 2nd. Morgan Stanley reaffirmed an “overweight” rating and set a $245.00 target price on shares of Broadcom in a research report on Monday, April 10th. Wells Fargo & Co reissued a “market perform” rating and issued a $222.50 price target (up from $165.00) on shares of Broadcom in a research report on Friday, March 3rd. Zacks Investment Research lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, Cowen and Company reissued an “outperform” rating and issued a $240.00 price target (up from $210.00) on shares of Broadcom in a research report on Monday, February 27th. Three equities research analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $228.54.

In other news, VP Patricia H. Mccall sold 1,696 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $220.00, for a total value of $373,120.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 13,207 shares of the company’s stock in a transaction dated Wednesday, March 8th. 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. Over the last ninety days, insiders have sold 1,283,946 shares of company stock valued at $274,345,590. 6.20% of the stock is owned by corporate insiders. A number of large investors have recently added to or reduced their stakes in the company. Swedbank acquired a new stake in Broadcom during the third quarter valued at $100,658,000. Benson Investment Management Company Inc. purchased a new position in Broadcom during the fourth quarter valued at approximately $2,046,000. Cobiz Wealth LLC purchased a new position in Broadcom during the fourth quarter valued at approximately $3,805,000. Main Street Research LLC boosted its position in Broadcom by 13.5% in the fourth quarter. Main Street Research LLC now owns 50,616 shares of the semiconductor manufacturer’s stock valued at $8,947,000 after buying an additional 6,002 shares during the period. Finally, ZWJ Investment Counsel Inc. boosted its position in Broadcom by 3.5% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 96,740 shares of the semiconductor manufacturer’s stock valued at $17,100,000 after buying an additional 3,278 shares during the period. Hedge funds and other institutional investors own 91.85% of the company’s stock.

In other news, VP Patricia H. Mccall sold 1,696 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $220.00, for a total value of $373,120.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Bryan Ingram sold 13,207 shares of the company’s stock in a transaction dated Wednesday, March 8th. 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. Over the last ninety days, insiders have sold 1,283,946 shares of company stock valued at $274,345,590. 6.20% of the stock is owned by corporate insiders. Shares of Broadcom (NASDAQ:AVGO) traded up 0.69% during trading on Wednesday, reaching $240.68. The company’s stock had a trading volume of 1,812,837 shares. The firm’s market cap is $96.60 billion. Broadcom has a one year low of $139.62 and a one year high of $241.29. The stock’s 50 day moving average is $221.31 and its 200 day moving average is $198.94.

Broadcom Company Profile Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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