Broadcom Corp. (NASDAQ:BRCM) had its price objective reduced by Wedbush from $38.00 to $36.00 in a report released on Wednesday, Analyst Ratings Network reports. Wedbush currently has an outperform rating on the stock.
Wedbush has also modified their ratings on a number of other information technology stocks in the few days. The firm raised its price target on shares of Texas Instruments Incorporated from $39.00 to $40.00. They have an outperform rating on that stock. Also, Wedbush raised its price target on shares of Advanced Micro Devices Inc. from $4.00 to $4.50. They have a neutral rating on that stock.
A number of other analysts have also recently weighed in on BRCM. Analysts at Topeka Capital Markets cut their price target on shares of Broadcom Corp. to $35.00 in a research note to investors on Wednesday. They now have a buy rating on the stock. Separately, analysts at Susquehanna cut their price target on shares of Broadcom Corp. from $39.00 to $33.00 in a research note to investors on Wednesday. They now have a neutral rating on the stock. Finally, analysts at Piper Jaffray Cos. cut their price target on shares of Broadcom Corp. from $51.00 to $47.00 in a research note to investors on Wednesday. They now have an overweight rating on the stock.
Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $36.99.
Shares of Broadcom Corp. (NASDAQ: BRCM) traded down 0.55% during mid-day trading on Wednesday, hitting $27.31. Broadcom Corp. has a one year low of $26.58 and a one year high of $37.85. The stock’s 50-day moving average is currently $33.48. The company has a market cap of $15.594 billion and a P/E ratio of 19.24.
Broadcom Corporation (NASDAQ: BRCM) is a global semiconductor solution for wired and wireless communications.