Broadcom (NASDAQ:AVGO) Price Target Cut to $700.00 by Analysts at Mizuho

Broadcom (NASDAQ:AVGO – Get Rating) had its target price dropped by analysts at Mizuho from $725.00 to $700.00 in a note issued to investors on Friday, The Fly reports. Mizuho’s price objective suggests a potential upside of 31.81% from the company’s previous close.

Several other research analysts also recently weighed in on the company. Susquehanna dropped their price target on Broadcom from $680.00 to $650.00 in a research note on Monday. Truist Financial dropped their target price on shares of Broadcom from $658.00 to $630.00 and set a “buy” rating for the company in a research report on Friday, September 2nd. KeyCorp reduced their price target on shares of Broadcom from $780.00 to $700.00 and set an “overweight” rating on the stock in a report on Friday, September 2nd. Susquehanna Bancshares decreased their price target on shares of Broadcom from $680.00 to $650.00 and set a “positive” rating on the stock in a research note on Monday. Finally, BMO Capital Markets cut their price objective on Broadcom from $675.00 to $650.00 and set an “outperform” rating for the company in a research report on Friday, September 2nd. Two research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $677.05.

Broadcom Stock Up 2.4 %

AVGO opened at $531.08 on Friday. The stock has a market cap of $215.09 billion, a price-to-earnings ratio of 22.97, a price-to-earnings-growth ratio of 0.93 and a beta of 1.11. The company has a debt-to-equity ratio of 1.88, a quick ratio of 2.05 and a current ratio of 2.32. The firm’s fifty day moving average is $484.59 and its 200 day moving average is $506.21. Broadcom has a fifty-two week low of $415.07 and a fifty-two week high of $677.76.

Broadcom (NASDAQ:AVGO – Get Rating) last posted its quarterly earnings results on Thursday, December 8th. The semiconductor manufacturer reported $10.45 EPS for the quarter, beating analysts’ consensus estimates of $9.50 by $0.95. The business had revenue of $8.93 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Broadcom had a return on equity of 63.42% and a net margin of 31.96%. The business’s quarterly revenue was up 20.6% on a year-over-year basis. During the same period last year, the firm earned $7.01 earnings per share. On average, sell-side analysts forecast that Broadcom will post 34.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Weiss Asset Management LP bought a new stake in shares of Broadcom during the 3rd quarter worth approximately $4,716,000. Centaurus Financial Inc. boosted its stake in shares of Broadcom by 5.7% during the third quarter. Centaurus Financial Inc. now owns 4,755 shares of the semiconductor manufacturer’s stock valued at $2,111,000 after purchasing an additional 256 shares during the period. EP Wealth Advisors LLC grew its holdings in shares of Broadcom by 17.4% in the third quarter. EP Wealth Advisors LLC now owns 106,303 shares of the semiconductor manufacturer’s stock worth $47,199,000 after purchasing an additional 15,786 shares during the last quarter. Eagle Bay Advisors LLC increased its stake in Broadcom by 20.3% in the 3rd quarter. Eagle Bay Advisors LLC now owns 320 shares of the semiconductor manufacturer’s stock worth $143,000 after buying an additional 54 shares during the period. Finally, Continental Investors Services Inc. bought a new stake in Broadcom during the 3rd quarter valued at about $392,000. Hedge funds and other institutional investors own 79.60% of the company’s stock.

Broadcom Company Profile

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Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.