Time to Buy Broadcom Ltd (AVGO) After Today's Significant Increase?

Broadcom Limited released its Q2 earnings after the closing bell on Thursday and stock has risen a considerable 7% Friday morning

Broadcom Ltd (NASDAQ:AVGO)'s revenue estimates for the current quarter are $4.26 Million according to 26 number of analysts, for the current quarter the company has high revenue estimates of $4.42 Million in contradiction of low revenue estimates of $4.1 Million. The company has made a net profit of $440 million, or $ 1.05 a share in the quarter, against a net loss of $1,186 million, or $3.02 a share in the past year period. Cowen & Co maintained the shares of AVGO in report on Friday, June 2 with "Buy" rating. Canaccord Genuity maintained Broadcom Ltd (NASDAQ:AVGO) on Thursday, December 3 with "Buy" rating. The stock of Broadcom Ltd (NASDAQ:AVGO) has "Hold" rating given on Thursday, December 3 by Topeka Capital Markets. The firm earned "Buy" rating on Tuesday, May 30 by Oppenheimer.

Perhaps the largest factor behind Friday's move: On the call, CEO Hock Tan forecast that a pending smartphone ramp by a "large North American customer" - clearly a reference to Apple's iPhone 8 and 7S ramps - would feature a 40% increase in the dollar content of the RF and Wi-Fi/Bluetooth combo chips Broadcom is selling, relative to last year's ramp. Three analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has given a strong buy rating to the company's stock. Morgan Stanley reiterated an overweight rating and issued a $245.00 price objective on shares of Broadcom in a report on Monday, April 10th.

Technical Communications Corporation is engaged in the design, development, manufacture, distribution, marketing and sale of communications security devices, systems, and services. The company has earned $4.23 million, or $0.24 a share, compared with $4.21 million or $0.24 a share, a year ago. Ibex Wealth Advisors now owns 4,208 shares of the semiconductor manufacturer's stock valued at $914,000 after buying an additional 4,093 shares during the period. This is an increase of approximately 102% compared to the typical daily volume of 414 call options. During the same period in the previous year, the firm posted $2.41 EPS.

In other news, VP Patricia H. Mccall sold 1,696 shares of the firm's stock in a transaction dated Wednesday, March 8th. 1 funds opened positions while 5 raised stakes. The investment managers in our partner's database reported: 176,130 shares, up from 76,885 shares in 2016Q3.

Brookmont Capital Management holds 4.3% of its portfolio in Microchip Technology Inc. for 170,195 shares.


Currently Broadcom Ltd (NASDAQ:AVGO)'s shares owned by insiders are 0.2%, whereas shares owned by institutional owners are 93.9%. Scott Selber Incorporated stated it has 1.91% of its portfolio in Broadcom Ltd (NASDAQ:AVGO). First Fincl Bank Of Omaha holds 0.24% or 38,700 shares in its portfolio. Vantage Investment Advsr Limited Liability Com owns 12 shares. Eqis Mngmt Inc holds 0.15% or 13,477 shares. Quantitative Inv Lc, Virginia-based fund reported 72,300 shares.

The stock decreased 2.04% or $4.89 during the last trading session, reaching $234.59. The shares were sold at an average price of $220.00, for a total value of $2,905,540.00.

There's a lot to be optimistic about in the Technology sector as 2 analysts just weighed in on Workday (NYSE: WDAY) and Broadcom Ltd (NASDAQ: AVGO) with bullish sentiments. It has outperformed by 47.30% the S&P500.

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products.

Another quarter of double-digit revenue growth is expected during the third quarter, with the company pointing to solid demand in its end markets. It offers a range of products that are used in end-products, such as enterprise and data center networking, home connectivity, set-top boxes (STBs), broadband access, telecommunication equipment, smartphones, data center servers and storage systems, factory automation, power generation and alternative energy systems, and electronic displays. Proficio Capital Partners LLC now owns 959 shares of the semiconductor manufacturer's stock valued at $230,000 after buying an additional 323 shares during the period. The Illinois-based Banc Funds Co Llc has invested 0.15% in the stock.

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