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

Key Points

• Bank of America has increased its price target for Broadcom's stock from $300 to $400, indicating a potential upside of 30.68% from its previous close.
• Broadcom's stock has received a majority of positive ratings, with 26 analysts issuing a "Buy" rating and three rating it as a "Strong Buy," leading to an average consensus price target of $329.38.
• In the most recent quarter, Broadcom reported earnings of $1.69 EPS, surpassing estimates and showing a 22% year-over-year increase in revenue to $15.95 billion.

Broadcom (NASDAQ:AVGO - Get Free Report) had its price target hoisted by Bank of America from $300.00 to $400.00 in a report released on Friday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor manufacturer's stock. Bank of America's price objective suggests a potential upside of 19.44% from the stock's previous close.

AVGO has been the subject of several other research reports. Barclays lifted their price objective on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a research note on Monday, June 9th. Wall Street Zen lowered shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. JPMorgan Chase & Co. lifted their price objective on shares of Broadcom from $250.00 to $325.00 and gave the company an "overweight" rating in a research note on Friday, June 6th. UBS Group lifted their price objective on shares of Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a research note on Monday, August 25th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $325.00 price objective (up previously from $305.00) on shares of Broadcom in a research note on Thursday, August 28th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $351.00.

Broadcom Stock Up 9.4%

Shares of NASDAQ:AVGO traded up $28.79 during trading on Friday, reaching $334.89. 78,318,626 shares of the company traded hands, compared to its average volume of 17,635,120. The firm has a fifty day simple moving average of $292.09 and a 200 day simple moving average of $237.31. The firm has a market cap of $1.58 trillion, a P/E ratio of 85.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. Broadcom has a 1-year low of $134.90 and a 1-year high of $356.34. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89.

Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 37.17%. The business had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter last year, the firm earned $1.24 EPS. Broadcom's revenue for the quarter was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Analysts anticipate that Broadcom will post 5.38 earnings per share for the current fiscal year.

Insider Activity at Broadcom

In other news, CFO Kirsten M. Spears sold 56,310 shares of the business's stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the transaction, the chief financial officer owned 361,937 shares in the company, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider owned 415,956 shares in the company, valued at approximately $105,353,335.68. The trade was a 10.73% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 830,516 shares of company stock worth $217,286,457. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AVGO. Vanguard Group Inc. increased its stake in Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer's stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares during the period. State Street Corp grew its stake in Broadcom by 0.5% during the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer's stock worth $51,071,601,000 after buying an additional 873,963 shares during the last quarter. Geode Capital Management LLC grew its stake in Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer's stock worth $29,827,649,000 after buying an additional 2,226,585 shares during the last quarter. Norges Bank bought a new stake in Broadcom during the second quarter worth about $18,579,549,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after buying an additional 17,985,046 shares during the last quarter. Institutional investors own 76.43% of the company's stock.

Broadcom Company Profile

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.