Broadcom (AVGO) Gets a Buy Rating from Morgan Stanley

By Jason Carr

Morgan Stanley analyst Craig Hettenbach reiterated a Buy rating on Broadcom (AVGOResearch Report) today and set a price target of $333.00. The company’s shares closed last Monday at $239.77.

According to TipRanks.com, Hettenbach is a 5-star analyst with an average return of 15.6% and a 58.7% success rate. Hettenbach covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Maxim Integrated, and TE Connectivity.

Broadcom has an analyst consensus of Strong Buy, with a price target consensus of $297.41, representing a 28.1% upside. In a report issued on March 16, BMO Capital also upgraded the stock to Buy with a $330.00 price target.

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Broadcom’s market cap is currently $92.23B and has a P/E ratio of 38.10. The company has a Price to Book ratio of -2.27.

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Broadcom, Inc. is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions, Infrastructure Software and IP licensing. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications. The Infrastructure Software segment provides a portfolio of mainframe, enterprise and storage area networking solutions. The IP licensing segment licenses a portion of its broad IP portfolio. The company was founded in 1961 and is headquartered in San Jose, CA.