Argus Raises Broadcom (NASDAQ:AVGO) Price Target to $375.00

Key Points

• Argus Investment Analysts raised their price target for Broadcom (NASDAQ:AVGO) from $285 to $375, indicating an 8.13% potential upside from the current stock price, and they currently maintain a "buy" rating.
• Broadcom's stock has a consensus rating of "Buy" from analysts, with an average price target of $351.92, while five analysts have rated it as "Strong Buy."
• The company reported a quarterly earnings per share (EPS) of $1.69, surpassing expectations, and experienced a 22% year-over-year revenue growth, totaling $15.95 billion for the quarter.

Broadcom (NASDAQ:AVGO - Get Free Report) had its target price increased by investment analysts at Argus from $285.00 to $375.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the semiconductor manufacturer's stock. Argus' price target suggests a potential upside of 8.13% from the stock's current price.

AVGO has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an "overweight" rating and set a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. Rosenblatt Securities increased their price objective on shares of Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday. The Goldman Sachs Group restated a "buy" rating and set a $340.00 price objective on shares of Broadcom in a research note on Wednesday, August 13th. Oppenheimer restated an "outperform" rating and set a $360.00 price objective (up from $325.00) on shares of Broadcom in a research note on Friday. Finally, Redburn Atlantic initiated coverage on shares of Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 target price for the company. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $351.92.

Broadcom Stock Performance

Shares of NASDAQ:AVGO traded up $11.92 during trading on Monday, hitting $346.81. 17,742,642 shares of the company traded hands, compared to its average volume of 25,961,609. Broadcom has a one year low of $134.90 and a one year high of $356.34. The stock has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 88.73, a PEG ratio of 2.38 and a beta of 1.16. The business's fifty day moving average is $292.09 and its 200-day moving average is $237.38. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the company posted $1.24 EPS. The firm's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts predict that Broadcom will post 5.38 earnings per share for the current fiscal year.

Insider Activity at Broadcom

In related news, CFO Kirsten M. Spears sold 36,350 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the transaction, the chief financial officer directly owned 325,587 shares in the company, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gayla J. Delly sold 3,000 shares of the business's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the transaction, the director owned 33,352 shares in the company, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock valued at $217,286,457 over the last quarter. 2.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently made changes to their positions in the business. SevenBridge Financial Group LLC increased its stake in Broadcom by 21.8% during the 2nd quarter. SevenBridge Financial Group LLC now owns 14,404 shares of the semiconductor manufacturer's stock valued at $3,970,000 after purchasing an additional 2,577 shares in the last quarter. American Trust lifted its holdings in Broadcom by 72.1% during the second quarter. American Trust now owns 9,603 shares of the semiconductor manufacturer's stock valued at $2,647,000 after purchasing an additional 4,023 shares in the last quarter. PVG Asset Management Corp lifted its holdings in shares of Broadcom by 119.4% in the second quarter. PVG Asset Management Corp now owns 2,874 shares of the semiconductor manufacturer's stock worth $792,000 after buying an additional 1,564 shares in the last quarter. FSC Wealth Advisors LLC purchased a new position in shares of Broadcom in the second quarter worth $74,000. Finally, Evolution Wealth Management Inc. purchased a new stake in shares of Broadcom during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

About Broadcom

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.

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