Published: Fri, December 08, 2017
Hi-Tech | By Grace Becker

Broadcom Beats Quarterly Sales, Earnings Targets; Shares Tick Up

Broadcom Beats Quarterly Sales, Earnings Targets; Shares Tick Up

Revenues for Q4 rose 17 percent from the year before to United States dollars 4.844 billion while the gross margin went up to USD 2.383 billion (49.2% of revenues) from 2.171 billion (52.5%) the year earlier. Revenues are expected at USD 5.296 billion, give or take USD 75 million, with the gross margin seen at 47.75 percent, give or take 1 percent, and operating expenses forecast at USD 1.760 billion. First Commercial Bank Of Omaha has invested 0.24% in Broadcom Limited (NASDAQ:AVGO). After $3.73 actual EPS reported by Broadcom Limited for the previous quarter, Wall Street now forecasts 5.09% EPS growth. The business is scheduled to announce its next earnings report after the market closes on Thursday, June 1st. Mitchell Mcleod Pugh & Williams invested 0.48% in Broadcom Limited (NASDAQ:AVGO). The semiconductor manufacturer reported $3.63 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.61. Net revenue rose to $4.84 billion, slightly above the $4.83 billion analysts had estimated. During the same period past year, the business earned $2.41 EPS. It is therefore an indicator of the value put on each dollar for the sales of the business or revenues.

A number of other equities analysts have also issued reports on AVGO. Analysts on average have given a price target of $293.93 to Broadcom Limited stock. The firm earned "Buy" rating on Friday, August 25 by Mizuho. Finally, J P Morgan Chase & Co restated a buy rating and set a $315.00 price target on shares of Broadcom in a report on Tuesday, September 12th.

In other Broadcom news, SVP Bryan Ingram sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, September 14th. Five investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the stock. The rating was maintained by Bernstein on Monday, November 13 with "Buy".

According to the Recommendation Trends of the stock polled by Finviz, the company has a consensus recommendation of 1.7 out of the scale from 1 to 5, where 1 stands for Buy and 5 means Sell. 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 Securities & Exchange Commission, which is accessible through the SEC website.

A statistical measure of the dispersion of returns (volatility) for AVGO producing salvation in Investors mouth, it has week volatility of 3.82% and for the month booked as 2.69%. 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. Cibc Ww Markets Corp owns 102,545 shares. Advisor Partners LLC grew its stake in Broadcom by 10.0% during the 2nd quarter. Tower Research Capital LLC TRC increased its holdings in shares of Broadcom by 473.0% during the second quarter. Balasa Dinverno & Foltz Limited Liability Company has 1,640 shares for 0.06% of their portfolio. Finally, Pioneer Investment Management Inc. increased its position in shares of Broadcom by 2.2% in the second 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.

$1.26 EPS Expected for Walgreens Boots Alliance, Inc. (WBA)
Park National Corp OH's holdings in Walgreens Boots Alliance were worth $2,320,000 at the end of the most recent quarter. Burgundy Asset Management Ltd. raised its position in shares of Walgreens Boots Alliance by 0.6% during the 3rd quarter.

Other institutional investors and hedge funds have also modified their holdings of the company.

Broadcom Limited (AVGO) ended its last session at $261.65 by Declining -0.74%. Dividends are mostly given in terms of cash payments, property or as shares of stock.

For the year, the company reported net income of $1.8 billion, or $4.27 per share, swinging to a profit in the period. At the moment, the stock is trading for about -4.74% less than its 52-week high.

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.

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