In a report released today, Mark Lipacis from Jefferies maintained a Buy rating on Broadcom (AVGO – Research Report), with a price target of $720.00. The company’s shares closed last Thursday at $583.42, close to its 52-week high of $593.07.
According to TipRanks.com, Lipacis is a top 25 analyst with an average return of 36.1% and a 81.0% success rate. Lipacis covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Advanced Micro Devices, and Smart Global Holdings.
Currently, the analyst consensus on Broadcom is a Strong Buy with an average price target of $681.75, which is a 17.0% upside from current levels. In a report issued on December 3, Oppenheimer also maintained a Buy rating on the stock with a $650.00 price target.
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The company has a one-year high of $593.07 and a one-year low of $398.28. Currently, Broadcom has an average volume of 1.76M.
Based on the recent corporate insider activity of 63 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVGO in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Broadcom, Inc. is a technology company offering semiconductor and infrastructure software solutions. It operates through two segments: Semiconductor Solutions (includes semiconductor solution product lines and IP licensing) and Infrastructure Software (Includes mainframe, BizOps and cyber security software solutions and FC SAN business). The company was founded in 1961 and is headquartered in San Jose, CA.
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