Broadcom Corporation (NASDAQ:BRCM): 18 Brokerage firm Analysts have agreed with the mean estimate for the short term price target of $57.39 in Broadcom Corporation (NASDAQ:BRCM). However, the stock price could fluctuate by $ 3.53 from the estimate as it is suggested by the standard deviation reading. The higher estimate has been put at $67 price target with the lower price estimate is calculated at $54
Research firm Zacks has rated Broadcom Corporation (NASDAQ:BRCM) and has ranked it at 3, indicating that for the short term the shares are a hold.
27 Wall Street analysts have given the company an average rating of 2.57.
The shares have received a hold rating based on the suggestion from 20 analysts in latest recommendations. Strong buy was given by 4 Wall Street Analysts. The shares had a buy rating from 3 analysts.
Broadcom Corporation (NASDAQ:BRCM) : On Thursday heightened volatility was witnessed in Broadcom Corporation (NASDAQ:BRCM) which led to swings in the share price. The shares opened for trading at $51.28 and hit $52.06 on the upside , eventually ending the session at $51.72, with a gain of 1.59% or 0.81 points. The heightened volatility saw the trading volume jump to 4,941,702 shares.
The 52-week high of the share price is $57.6995 and the company has a market cap of $29,001 million.
The 52-week low of the share price is at $34.5 . The company shares have rallied 44.18% in the past 52 Weeks. On May 27, 2015 The shares registered one year high of $57.7 and one year low was seen on October 16, 2014 at $34.73.
The 50-day moving average is $51.54 and the 200 day moving average is recorded at $50.03. S&P 500 has rallied 7.06% during the last 52-weeks.
Many analysts have commented on the company rating. In a research note released to the investors, Wedbush downgrades its rating on Broadcom Corporation (NASDAQ:BRCM).
Investors must note that the brokerage house has a Neutral rating on the shares of the company. Previously, the company had a rating of Outperform. The Equity Firm lowers its price target from $61 per share to $54 per share.
The rating by the firm was issued on August 7, 2015. Currently the company Insiders own 5.17% of Broadcom Corp-A Company shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -2.73% .
Institutional Investors own 79.14% of Broadcom Corp-A shares.
During last six month period, the net percent change held by insiders has seen a change of -11.14%. Broadcom Corporation (Broadcom), is a global semiconductor solution for wired and wireless communications. Broadcom products seamlessly deliver voice, video, data and multimedia connectivity in the home, office and mobile environment.
The Company provides system-on-a-chip (SoC), and software solutions. The Companys segment includes Broadband Communications, Mobile and Wireless and Infrastructure and Networking. During the fiscal year ended December 31, 2012, operates its business to serve three markets: Broadband Communications, Mobile and Wireless and Infrastructure and Networking.
In February 2012, the Company acquired NetLogic Microsystems, Inc.
In April 2012, it acquired BroadLight, Inc.
In March 2014, completed the acquisition of the 10/40/100Gb Ethernet controller-related assets from Broadcom.
For any feedback, suggestions and tips, contact author at Kent.Delcamp@newswatchinternational.com
Broadband Security – Your Network Security From The Experts
The post Broadcom Corporation Analyst Price Target Update appeared first on News4Security.