Rosenblatt Securities Reaffirms Buy Rating for Broadcom (NASDAQ:AVGO)

Key Points

• Rosenblatt Securities reaffirmed its Buy rating on Broadcom and set a $600 price target, implying approximately 75% upside from the prior close. Analysts overall rate the stock “Moderate Buy,” with an average target of $530.52.
• Broadcom shares rose 4% to $342.33 during Tuesday trading. The company recently exceeded quarterly expectations, reporting $3.32 in EPS and $29.59 billion in revenue, with revenue up 85.5% year over year.
• Institutional investors hold 76.43% of Broadcom’s shares, while recent analyst commentary continues to emphasize strong AI infrastructure demand alongside valuation, execution and competitive risks.

Broadcom (NASDAQ:AVGO - Get Free Report)'s stock had its "buy" rating reaffirmed by investment analysts at Rosenblatt Securities in a research report issued on Tuesday, Benzinga reports. They presently have a $600.00 price objective on the semiconductor manufacturer's stock. Rosenblatt Securities's price objective would suggest a potential upside of 75.27% from the stock's previous close.

AVGO has been the topic of a number of other research reports. The Goldman Sachs Group upped their target price on shares of Broadcom from $525.00 to $540.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. BMO Capital Markets boosted their price target on shares of Broadcom from $455.00 to $575.00 and gave the company an "outperform" rating in a research note on Thursday, September 3rd. Erste Group Bank restated a "hold" rating on shares of Broadcom in a report on Tuesday, July 7th. Weiss Ratings upgraded shares of Broadcom from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, October 8th. Finally, Fox Advisors upgraded Broadcom to an "outperform" rating in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Broadcom presently has an average rating of "Moderate Buy" and an average target price of $530.52.

Broadcom Trading Up 4.0%

AVGO traded up $13.16 during trading hours on Tuesday, reaching $342.33. The company's stock had a trading volume of 25,224,413 shares, compared to its average volume of 24,856,268. The stock has a market cap of $1.63 trillion, a PE ratio of 43.72 and a beta of 1.46. Broadcom has a fifty-two week low of $289.96 and a fifty-two week high of $495.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.29. The business's 50-day moving average is $356.76 and its 200-day moving average is $367.07.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.10. The company had revenue of $29.59 billion during the quarter, compared to analysts' expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The firm's quarterly revenue was up 85.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.69 earnings per share. As a group, equities research analysts predict that Broadcom will post 10.37 earnings per share for the current fiscal year.

Institutional Trading of Broadcom

A number of large investors have recently made changes to their positions in AVGO. Fullerton Advisors LLC grew its holdings in Broadcom by 1.3% in the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer's stock worth $616,000 after purchasing an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co grew its holdings in 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 purchasing an additional 25 shares during the period. Yukon Wealth Management Inc. grew its holdings in 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 purchasing an additional 26 shares during the period. NerdWallet Wealth Partners LLC grew its holdings in Broadcom by 2.6% in the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer's stock worth $399,000 after purchasing an additional 27 shares during the period. Finally, Veery Capital LLC grew its holdings in Broadcom by 1.4% in the second quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer's stock worth $718,000 after purchasing an additional 27 shares during the period. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Anthropic-related financing highlights potential demand for Broadcom hardware. Bank of America, Blackstone, Citigroup and Morgan Stanley reportedly committed to a $63 billion financing vehicle that would purchase Broadcom’s custom AI accelerators and networking equipment and lease it to Anthropic. The structure could provide substantial revenue visibility and reinforces Broadcom’s role in Anthropic’s expected public offering. Broadcom Anthropic financing article
• Positive Sentiment: D.A. Davidson upgraded AVGO to Buy and raised its price target to $400 from $350. The firm cited sustained AI infrastructure spending and the potential for upcoming AI-company IPOs to support demand. Other coverage characterized Anthropic’s IPO filing as reducing uncertainty around Broadcom’s AI growth outlook. Broadcom analyst price target article
• Positive Sentiment: Anthropic’s filing indicates a large, long-term infrastructure opportunity. The AI developer disclosed approximately $224.5 billion in non-cancelable compute agreements with Amazon and Alphabet. Broadcom could benefit as those cloud providers expand custom silicon, accelerators and networking capacity, while the company’s recent AI revenue growth has exceeded 200% year over year. Anthropic IPO infrastructure opportunity article
• Neutral Sentiment: Broadcom also announced security enhancements for TrueSource Spring Enterprise. The product update, including fixes for 89 vulnerabilities, supports the infrastructure-software business but is unlikely to be the primary driver of the stock’s move. Broadcom TrueSource announcement
• Negative Sentiment: Investors remain focused on execution and financing risks. Reports noted that lenders had initially expressed reservations about the Anthropic structure, while analysts continue to debate whether Broadcom’s AI growth is fully reflected in its valuation. Alphabet’s use of additional TPU suppliers also raises competitive concerns.
• Negative Sentiment: Insider selling and open-ended guarantees add caution. Broadcom insiders reportedly made substantially more sales than purchases over the past six months, and commentary about potentially uncapped off-balance-sheet guarantees could increase financial risk if AI infrastructure demand weakens.

About Broadcom

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software products. Its semiconductor solutions support data center, networking, broadband, wireless communications, storage, industrial and other electronic applications.

The company's semiconductor portfolio includes networking and switching components, custom accelerators, connectivity and wireless devices, broadband equipment, optical products, storage controllers and related infrastructure technologies.