Finally Time To Cut Your Stake? Raymond James Downgrades Broadcom (NASDAQ:AVGO) Shares

July 13, 2018 - By Theresa Judd

Broadcom Inc. (NASDAQ:AVGO) Logo

Investors sentiment decreased to 0.67 in Q1 2018. Its down 1.00, from 1.67 in 2017Q4. It worsened, 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.

Vantage Investment Advsrs Limited Company holds 0% or 12 shares. Gemmer Asset Management Lc reported 127 shares stake. Wagner Bowman reported 1,266 shares stake. Cibc World Markets accumulated 134,755 shares. Mitchell Mcleod Pugh & Williams accumulated 0.49% or 2,908 shares. Balasa Dinverno And Foltz Lc owns 1,598 shares or 0.06% of their US portfolio. The California-based Eqis has invested 0.23% in Broadcom Inc. (NASDAQ:AVGO). First Bank Of Omaha reported 0.23% of its portfolio in Broadcom Inc. (NASDAQ:AVGO).

Broadcom (NASDAQ:AVGO) Receives a Downgrade

In a note sent to investors and clients on Friday morning, Raymond James cut shares of Broadcom (NASDAQ:AVGO) to a lower “Mkt Perform” rating from the previous “Outperform” rating.

Broadcom Inc. (NASDAQ:AVGO) Ratings Coverage

Among 36 analysts covering Broadcom Ltd (NASDAQ:AVGO), 31 have Buy rating, 0 Sell and 5 Hold. Therefore 86% are positive. Broadcom Ltd has $350 highest and $225 lowest target. $309.52’s average target is 52.41% above currents $203.08 stock price. Broadcom Ltd had 58 analyst reports since January 31, 2018 according to SRatingsIntel. The stock has “Buy” rating by J.P. Morgan on Friday, May 25. The rating was maintained by Canaccord Genuity with “Buy” on Tuesday, May 1. On Monday, April 30 the stock rating was maintained by Morgan Stanley with “Overweight”. The stock has “Buy” rating by FBR Capital on Friday, June 8. KeyBanc Capital Markets maintained it with “Buy” rating and $320.0 target in Thursday, February 1 report. The firm has “Neutral” rating by Macquarie Research given on Thursday, July 12. As per Wednesday, May 9, the company rating was downgraded by Nomura. FBR Capital downgraded Broadcom Inc. (NASDAQ:AVGO) on Thursday, July 12 to “Neutral” rating. The firm earned “Buy” rating on Friday, March 16 by Craig Hallum. The rating was maintained by BMO Capital Markets on Monday, March 12 with “Outperform”.

The stock decreased 3.29% or $6.9 during the last trading session, reaching $203.08. About 11.40M shares traded or 188.48% up from the average. Broadcom Inc. (NASDAQ:AVGO) has risen 3.81% since July 13, 2017 and is uptrending. It has underperformed by 8.76% the S&P500.

Analysts await Broadcom Inc. (NASDAQ:AVGO) to report earnings on August, 23. They expect $4.18 earnings per share, up 12.06 % or $0.45 from last year’s $3.73 per share. AVGO’s profit will be $1.80 billion for 12.15 P/E if the $4.18 EPS becomes a reality. After $4.38 actual earnings per share reported by Broadcom Inc. for the previous quarter, Wall Street now forecasts -4.57 % negative EPS growth.

Broadcom Limited designs, develops, and supplies a range of semiconductor devices worldwide. The company has market cap of $87.67 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 7.66 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: Marketwatch.com which released: “Broadcom stock broadsided with worst day ever as CA bid is met with confusion” on July 12, 2018, also Finance.Yahoo.com with their article: “5 Top Stock Trades for Friday Morning” published on July 13, 2018, Benzinga.com published: “44 Biggest Movers From Yesterday” on July 13, 2018. More interesting news about Broadcom Inc. (NASDAQ:AVGO) were released by: Marketwatch.com and their article: “Tech rally pushes Nasdaq to record as stocks rebound broadly” published on July 12, 2018 as well as Cnbc.com‘s news article titled: “Broadcom reaches deal to acquire CA Technologies for $18.9 billion in cash” with publication date: July 11, 2018.

Broadcom Inc. (NASDAQ:AVGO) Ratings Chart

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