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Why Broadcom's Stock Is Trading Higher Today

Broadcom (NASDAQ: AVGO) shares are trading higher on Monday after Mizuho maintained a Buy rating on the stock and raised its price target from $325 to $350.

Benzinga · -

Broadcom (NASDAQ:AVGO) shares are trading higher on Monday after Mizuho maintained a Buy rating on the stock and raised its price target from $325 to $350.

Broadcom--the combined entity of Broadcom and Avago--has a diverse product portfolio across an array of end markets. Avago focused primarily on radio frequency filters and amplifiers used in high-end smartphones, such as the Apple iPhone and Samsung Galaxy devices, in addition to an assortment of solutions for wired infrastructure, enterprise storage, and industrial end markets.

Legacy Broadcom targeted networking semiconductors, such as switch and physical layer chips, broadband products (such as television set-top box processors), and connectivity chips that handle standards such as Wi-Fi and Bluetooth. The company has acquired Brocade, CA Technologies, and Symantec's enterprise security business to bolster its offerings in infrastructure software and security.

Broadcom shares traded up 3.20% at $312.45 on Monday. The stock has a 52-week high of $331.58 and a 52-week low of $155.67.

Related links:

Broadcom Reports Q1 Earnings Miss

Report: Broadcom Secures Financing For Symantec Acquisition