Oppenheimer Reaffirms Their Buy Rating on Broadcom

By Ryan Adsit

In a report released today, Rick Schafer from Oppenheimer maintained a Buy rating on Broadcom (NASDAQ: AVGO). The company’s shares closed yesterday at $263.58.

According to TipRanks.com, Schafer is a top 100 analyst with an average return of 17.4% and a 73.4% success rate. Schafer covers the Consumer Goods sector, focusing on stocks such as NXP Semiconductors, Skyworks Solutions, and Texas Instruments.

Currently, the analyst consensus on Broadcom is Strong Buy and the average price target is $311.32, representing a 18.1% upside.

In a report issued on June 4, B.Riley FBR also assigned a Buy rating to the stock with a $310 price target.

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The company has a one-year high of $285.68 and a one-year low of $221.98. Currently, Broadcom has an average volume of 3.86M.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Kenneth Hao, a Director at AVGO bought 9,854 shares for a total of $348,635.

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.