Broadcom (NASDAQ:AVGO) Stock Price Expected to Rise, Barclays Analyst Says

Key Points

• Barclays analysts have raised Broadcom's price target significantly from $265 to $400, indicating a potential upside of 30.68% from its previous closing price.
• Other analysts, including Rosenblatt Securities and JPMorgan Chase, have also raised their price objectives to $400, maintaining a strong positive outlook for Broadcom stock.
• Broadcom reported a 22.0% increase in revenue year-over-year, with earnings of $1.69 per share, surpassing analysts' expectations for the quarter.

Broadcom (NASDAQ:AVGO - Get Free Report) had its price target lifted by research analysts at Barclays from $265.00 to $400.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the semiconductor manufacturer's stock. Barclays's price objective would indicate a potential upside of 19.44% from the stock's previous close.

AVGO has been the topic of a number of other research reports. Bank of America lifted their target price on shares of Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research report on Friday. The Goldman Sachs Group reiterated a "buy" rating and issued a $340.00 price objective on shares of Broadcom in a report on Wednesday, August 13th. Oppenheimer reissued an "outperform" rating and issued a $325.00 target price (up previously from $305.00) on shares of Broadcom in a research note on Thursday, August 28th. Truist Financial set a $295.00 price target on Broadcom and gave the stock a "buy" rating in a research report on Friday, June 6th. Finally, Wall Street Zen cut Broadcom from a "buy" rating to a "hold" rating in a research note on Monday, August 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $351.00.

Broadcom Price Performance

AVGO stock traded up $28.79 during mid-day trading on Friday, hitting $334.89. 78,318,626 shares of the stock were exchanged, compared to its average volume of 17,635,120. The business has a fifty day moving average price of $292.09 and a 200 day moving average price of $237.31. Broadcom has a 12 month low of $134.90 and a 12 month high of $356.34. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The stock has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.43, a PEG ratio of 2.38 and a beta of 1.16.

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

Insider Activity

In other Broadcom news, Director Gayla J. Delly sold 3,000 shares of Broadcom stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director directly owned 33,352 shares of the company's stock, valued at approximately $8,842,615.76. The trade was a 8.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Hock E. Tan sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $268.29, for a total value of $10,731,600.00. Following the transaction, the chief executive officer owned 482,836 shares in the company, valued at $129,540,070.44. This trade represents a 7.65% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Broadcom

Several hedge funds have recently made changes to their positions in AVGO. Redwood Financial Network Corp lifted its holdings in shares of Broadcom by 1.7% during the 2nd quarter. Redwood Financial Network Corp now owns 1,939 shares of the semiconductor manufacturer's stock valued at $535,000 after buying an additional 33 shares during the period. Sawyer & Company Inc lifted its holdings in shares of Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares during the period. PFS Partners LLC lifted its holdings in shares of Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after buying an additional 38 shares during the period. Costello Asset Management INC lifted its holdings in shares of Broadcom by 1.5% during the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer's stock valued at $697,000 after buying an additional 38 shares during the period. Finally, Walkner Condon Financial Advisors LLC lifted its holdings in shares of Broadcom by 1.0% during the 2nd quarter. Walkner Condon Financial Advisors LLC now owns 3,944 shares of the semiconductor manufacturer's stock valued at $1,087,000 after buying an additional 38 shares during the period. 76.43% of the stock is currently owned by institutional investors.

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.