TD Cowen Forecasts Strong Price Appreciation for Broadcom (NASDAQ:AVGO) Stock

Key Points

• TD Cowen has increased its price target for Broadcom from $355.00 to $370.00, indicating a potential upside of 20.88% based on the company's previous close.
• The majority of analysts maintain a positive outlook on Broadcom's stock, with three analysts rating it as a Strong Buy and a consensus target price of $329.38.
• In recent months, insiders have sold over 830,516 shares of Broadcom stock, worth approximately $217 million, signaling a potential shift in confidence among executives.

Broadcom (NASDAQ:AVGO - Free Report) had its price target lifted by TD Cowen from $355.00 to $370.00 in a research report report published on Friday, Marketbeat.com reports. The firm currently has a buy rating on the semiconductor manufacturer's stock.

Several other brokerages also recently commented on AVGO. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Tuesday, June 24th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Broadcom from $300.00 to $350.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company lifted their price objective on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. Morgan Stanley lifted their price objective on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Susquehanna raised their target price on shares of Broadcom from $280.00 to $300.00 and gave the stock a "positive" rating in a research note on Friday, June 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $351.00.

Broadcom Price Performance

Shares of AVGO stock traded up $28.79 during trading hours on Friday, reaching $334.89. 78,318,626 shares of the company were exchanged, compared to its average volume of 17,635,120. Broadcom has a fifty-two week low of $134.90 and a fifty-two week high of $356.34. The stock's fifty day moving average is $292.09 and its two-hundred day moving average is $237.31. The company has a market cap of $1.58 trillion, a price-to-earnings ratio of 85.43, a P/E/G ratio of 2.38 and a beta of 1.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping 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 company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the business earned $1.24 earnings per share. Broadcom's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts forecast that Broadcom will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom's payout ratio is 88.39%.

Insider Activity

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the company's stock in a transaction on Monday, June 23rd. The shares were 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. This represents a 10.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total transaction of $14,176,042.50. Following the completion of the sale, the chief financial officer owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 830,516 shares of company stock valued at $217,286,457. Corporate insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On Broadcom

Several hedge funds have recently bought and sold shares of the company. Redwood Financial Network Corp lifted its stake 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 in the last quarter. Sawyer & Company Inc lifted its stake in Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. PFS Partners LLC lifted its stake in Broadcom by 38.4% in the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock worth $38,000 after purchasing an additional 38 shares in the last quarter. Costello Asset Management INC boosted its holdings in Broadcom by 1.5% in the 2nd quarter. Costello Asset Management INC now owns 2,528 shares of the semiconductor manufacturer's stock valued at $697,000 after purchasing an additional 38 shares during the period. Finally, Walkner Condon Financial Advisors LLC boosted its holdings in Broadcom by 1.0% in 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 purchasing an additional 38 shares during the period. Hedge funds and other 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.