Broadcom (NASDAQ:AVGO) Price Target Raised to $350.00 at Citigroup

Key Points

• Citigroup has raised Broadcom's price target from $315.00 to $350.00, indicating a potential 4.49% upside based on the current stock price.
• Several other brokerages have also increased their price targets, with Piper Sandler raising it to $375.00 and Morgan Stanley to $357.00, reflecting a generally positive outlook for the semiconductor manufacturer.
• Broadcom's recent earnings report showed strong performance, with a revenue of $15.95 billion, exceeding expectations, and a year-over-year earnings per share increase from $1.24 to $1.69.

Broadcom (NASDAQ:AVGO - Get Free Report) had its price target lifted by Citigroup from $315.00 to $350.00 in a report released on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor manufacturer's stock. Citigroup's target price would suggest a potential upside of 4.49% from the stock's current price.

A number of other brokerages have also commented on AVGO. Piper Sandler lifted their price target on shares of Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a report on Friday. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Thursday, June 5th. Morgan Stanley upped their price objective on shares of Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research report on Tuesday. Oppenheimer restated an "outperform" rating and set a $360.00 price target (up from $325.00) on shares of Broadcom in a research note on Friday. Finally, Evercore ISI restated an "outperform" rating and set a $342.00 price objective (up previously from $304.00) on shares of Broadcom in a research report on Thursday. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Broadcom has a consensus rating of "Buy" and an average target price of $351.00.

Broadcom Stock Performance

AVGO stock traded up $28.86 during mid-day trading on Friday, hitting $334.96. 64,992,960 shares of the company were exchanged, compared to its average volume of 25,942,088. The business has a 50 day simple moving average of $290.78 and a 200-day simple moving average of $236.51. The stock has a market capitalization of $1.58 trillion, a PE ratio of 125.31, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. Broadcom has a 1-year low of $134.90 and a 1-year high of $356.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data 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 net margin of 22.64% and a return on equity of 35.49%. The business had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. During the same period last year, the firm posted $1.24 earnings per share. The firm's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. On average, equities analysts forecast that Broadcom will post 5.38 earnings per share for the current year.

Insider Activity at Broadcom

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the sale, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $307.46, for a total transaction of $245,968.00. Following the sale, the director directly owned 23,782 shares in the company, valued at approximately $7,312,013.72. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,286,457 in the last 90 days. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Broadcom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barnes Dennig Private Wealth Management LLC purchased a new position in Broadcom in the first quarter worth approximately $25,000. Cheviot Value Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at $25,000. Inlight Wealth Management LLC acquired a new position in Broadcom in the 1st quarter valued at $26,000. Sawyer & Company Inc increased its stake in Broadcom by 62.1% in 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. Finally, Longfellow Investment Management Co. LLC acquired a new position in Broadcom in the 2nd quarter valued at $27,000. 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.

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