Broadcom (NASDAQ:AVGO) Price Target Lowered to $520.00 at Truist Financial

Broadcom (NASDAQ:AVGO) had its price objective lowered by equities researchers at Truist Financial from $550.00 to $520.00 in a research report issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Truist Financial’s price objective would suggest a potential upside of 49.59% from the stock’s current price.

A number of other equities analysts have also issued reports on AVGO. Fox Advisors raised Broadcom to an “outperform” rating in a report on Thursday. BMO Capital Markets lifted their target price on Broadcom from $455.00 to $575.00 and gave the company an “outperform” rating in a research note on Thursday. Oppenheimer reiterated an “outperform” rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. Raymond James Financial reissued an “outperform” rating and issued a $475.00 price target on shares of Broadcom in a research note on Thursday. Finally, Jefferies Financial Group started coverage on shares of Broadcom in a research note on Thursday. They set a “buy” rating on the stock. Thirty-one research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus price target of $502.60.

Broadcom Stock Performance

Broadcom stock traded down $19.62 during midday trading on Thursday, reaching $347.62. 25,339,561 shares of the stock traded hands, compared to its average volume of 24,931,670. Broadcom has a fifty-two week low of $289.96 and a fifty-two week high of $495.00. The company has a current ratio of 2.24, a quick ratio of 2.01 and a debt-to-equity ratio of 0.71. The firm has a market cap of $1.65 trillion, a price-to-earnings ratio of 57.94, a PEG ratio of 0.71 and a beta of 1.44. The firm has a fifty day moving average price of $384.15 and a two-hundred day moving average price of $377.14.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, beating the consensus estimate of $3.22 by $0.10. The company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. Broadcom’s revenue was up 85.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.69 earnings per share. On average, equities research analysts forecast that Broadcom will post 10.24 earnings per share for the current year.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 25,000 shares of the company’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total value of $10,033,250.00. Following the completion of the sale, the insider directly owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. This represents a 11.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total transaction of $598,923.72. Following the transaction, the director owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 61,644 shares of company stock worth $24,016,214. Corporate insiders own 1.90% of the company’s stock.

Institutional Trading of Broadcom

A number of large investors have recently added to or reduced their stakes in AVGO. Fullerton Advisors LLC increased its stake in Broadcom by 1.3% in the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after purchasing an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co boosted its holdings in shares of Broadcom by 0.5% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after buying an additional 25 shares during the period. RFG Holdings Inc. increased its position in shares of Broadcom by 0.3% in the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after acquiring an additional 26 shares in the last quarter. Yukon Wealth Management Inc. increased its position in shares of Broadcom by 1.1% in the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after acquiring an additional 26 shares in the last quarter. Finally, NerdWallet Wealth Partners LLC raised its holdings in shares of Broadcom by 2.6% during the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock valued at $399,000 after acquiring an additional 27 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom reported fiscal third-quarter revenue of approximately $29.6 billion, up 86% year over year, and non-GAAP EPS of $3.32, exceeding the $3.22 consensus estimate. Free cash flow reached $13.7 billion. Broadcom fiscal third-quarter results
• Positive Sentiment: AI semiconductor revenue surged 221% year over year to $16.7 billion, up 54% sequentially. Management also outlined a potential AI semiconductor revenue opportunity of $115 billion in fiscal 2027 and $230 billion in 2028, supported by strong customer demand and bookings. AVGO Q3 earnings call and AI roadmap
• Positive Sentiment: Several firms raised their targets after the report. Cantor Fitzgerald and Rosenblatt lifted targets to $600, BMO to $575, and Macquarie upgraded the shares to Outperform with a $490 target, citing reduced insourcing concerns and strong custom-chip prospects. Analyst target increases
• Neutral Sentiment: Broadcom declared a quarterly dividend of $0.65 per share, payable September 30 to shareholders of record September 21, reinforcing its shareholder-return program. Broadcom dividend announcement
• Negative Sentiment: Fourth-quarter revenue guidance of approximately $34.8 billion came in below estimates near $35.0 billion. Investors viewed the outlook as too conservative relative to AVGO’s premium valuation and elevated AI-growth expectations, making the guidance miss the immediate catalyst for selling. Broadcom quarterly revenue forecast
• Negative Sentiment: Management cited land, power, chip and substrate availability as constraints on data-center deployments. Competition, including Google’s relationship with Marvell, and uncertainty over who will fund increasingly large AI infrastructure projects are also weighing on sentiment. Broadcom CEO on AI supply constraints

About Broadcom

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.