Goldman Sachs Reaffirms Positive Rating on Broadcom Corp (BRCM)

By admin | 6 years ago

Broadcom Corp (NASDAQ: BRCM)‘s stock had its “positive” rating reaffirmed by research analysts at Goldman Sachs (NYSE: GS) in a report released on Wednesday.

Shares of Broadcom Corp traded down 1.57% during mid-day trading on Wednesday, hitting $36.31. Broadcom Corp has a 52 week low of $27.59 and a 52 week high of $39.66. The company has a market cap of $19.789 billion and a P/E ratio of 22.36.

The company last announced its quarterly results on Tuesday, May 1st. It reported $0.65 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.55 EPS by $0.10. The company’s quarterly revenue was up .6% on a year-over-year basis. On average, analysts predict that Broadcom Corp will post $0.79 earnings per share next quarter.

Other equities research analysts have also recently issued reports about the stock. Analysts at Needham & Company reiterated a “buy” rating on shares of Broadcom Corp in a research note to investors on Wednesday. Separately, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Broadcom Corp in a research note to investors on Wednesday. They noted that the move was a valuation call. Finally, analysts at Barclays Capital (NYSE: BCS) raised their price target on shares of Broadcom Corp from $42.00 to $45.00 in a research note to investors on Wednesday. They now have an “overweight” rating on the stock.

Broadcom Corporation (Broadcom) is a provider of semiconductor for wired and wireless communications.

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