Broadcom (NASDAQ:AVGO) Price Target Raised to $400.00

Broadcom (NASDAQ:AVGO) had its target price upped by stock analysts at DA Davidson from $375.00 to $400.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the semiconductor manufacturer’s stock. DA Davidson’s price objective suggests a potential downside of 1.76% from the stock’s previous close.

AVGO has been the topic of several other research reports. Jefferies Financial Group set a $550.00 price target on Broadcom and gave the company a “buy” rating in a research note on Thursday. Benchmark upped their price objective on shares of Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday. Susquehanna reissued a “positive” rating and set a $490.00 target price (up from $450.00) on shares of Broadcom in a research report on Thursday, May 28th. Weiss Ratings upgraded shares of Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $480.63.

Broadcom Trading Down 15.0%

Shares of NASDAQ AVGO traded down $72.07 during trading hours on Thursday, reaching $407.16. The stock had a trading volume of 23,861,126 shares, compared to its average volume of 24,721,986. Broadcom has a 52-week low of $241.11 and a 52-week high of $495.00. The firm has a market cap of $1.93 trillion, a price-to-earnings ratio of 79.60, a P/E/G ratio of 0.99 and a beta of 1.41. The business’s fifty day moving average price is $392.87 and its two-hundred day moving average price is $361.19. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping the consensus estimate of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. During the same period last year, the business posted $1.58 EPS. Analysts expect that Broadcom will post 9.91 EPS for the current fiscal year.

Insider Buying and Selling at Broadcom

In related news, insider Mark David Brazeal sold 50,488 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the sale, the insider owned 278,141 shares of the company’s stock, valued at $89,450,145.60. This represents a 15.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the sale, the insider owned 787,184 shares of the company’s stock, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Broadcom

A number of large investors have recently made changes to their positions in the business. Brighton Jones LLC increased its position in Broadcom by 21.8% during the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after buying an additional 5,322 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock worth $1,854,000 after acquiring an additional 756 shares in the last quarter. United Bank boosted its holdings in Broadcom by 76.5% in the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer’s stock worth $392,000 after acquiring an additional 1,014 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer’s stock worth $3,499,000 after acquiring an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC increased its holdings in shares of Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $1,098,000 after acquiring an additional 378 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Cantor Fitzgerald reaffirmed its overweight rating on Broadcom and set a $525 price target, implying upside from current levels. Benzinga
• Positive Sentiment: Benchmark raised its price target to $545 from $485 and kept a buy rating, citing strong earnings momentum. Benzinga
• Positive Sentiment: Broadcom reported record AI semiconductor revenue of $10.8 billion, up sharply year over year, reinforcing its role as a key AI infrastructure supplier. PR Newswire
• Neutral Sentiment: Broadcom announced a quarterly dividend of $0.65 per share, which supports the stock’s income appeal but is not a major near-term catalyst. PR Newswire
• Negative Sentiment: Investors sold the stock after Broadcom’s revenue came in below the market’s elevated expectations, pressuring sentiment across semiconductors. Reuters
• Negative Sentiment: Chipmaker shares, including Broadcom, fell in premarket trading as the market reassessed the durability of the AI trade after earnings. CNBC

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.