Broadcom (NASDAQ:AVGO) Price Target Raised to $357.00 at Morgan Stanley

Key Points

• Morgan Stanley increased its price target for Broadcom from $338.00 to $357.00, indicating a potential upside of 20.04% from the stock's previous close.
• Broadcom currently holds an average rating of "Buy" from analysts, with 3 Strong Buy, 26 Buy, and 1 Hold ratings across various reports.
• Despite the positive target upgrades, shares of Broadcom were down 3.6% in trading on the same day.

Broadcom (NASDAQ:AVGO - Get Free Report) had its target price boosted by equities research analysts at Morgan Stanley from $338.00 to $357.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the semiconductor manufacturer's stock. Morgan Stanley's price target would suggest a potential upside of 20.04% from the stock's previous close.

A number of other equities research analysts also recently commented on AVGO. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a report on Friday, June 6th. Oppenheimer restated an "outperform" rating and issued a $325.00 target price (up from $305.00) on shares of Broadcom in a report on Thursday. Piper Sandler boosted their target price on shares of Broadcom from $300.00 to $315.00 and gave the company an "overweight" rating in a report on Friday, August 22nd. Wall Street Zen downgraded shares of Broadcom from a "buy" rating to a "hold" rating in a report on Monday, August 25th. Finally, Barclays boosted their target price on shares of Broadcom from $215.00 to $265.00 and gave the company an "overweight" rating in a report on Monday, June 9th. Three research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Buy" and a consensus price target of $302.58.

Broadcom Stock Down 3.6%

Shares of NASDAQ AVGO opened at $297.39 on Tuesday. 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 has a 52 week low of $134.90 and a 52 week high of $317.35. The firm has a 50-day moving average price of $288.61 and a 200 day moving average price of $235.11. The stock has a market capitalization of $1.40 trillion, a price-to-earnings ratio of 111.38, a price-to-earnings-growth ratio of 2.11 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, beating the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15 billion during the quarter, compared to analysts' expectations of $14.98 billion. During the same quarter last year, the business earned $10.96 earnings per share. The business's revenue for the quarter was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. Equities research analysts anticipate that Broadcom will post 5.38 EPS for the current fiscal year.

Insider Activity

In other Broadcom news, Director Justine Page sold 800 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total transaction of $245,968.00. Following the completion of the sale, the director owned 23,782 shares in the company, valued at $7,312,013.72. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gayla J. Delly sold 3,000 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the transaction, the director owned 33,352 shares of the company's stock, valued at $8,842,615.76. This represents a 8.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock valued at $217,286,457 over the last quarter. 2.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Broadcom

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer's stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares in the last quarter. State Street Corp raised its holdings 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 purchasing an additional 873,963 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 purchasing an additional 2,226,585 shares in the last quarter. Norges Bank bought a new stake in Broadcom during the second quarter worth approximately $18,579,549,000. Finally, Price T Rowe Associates Inc. MD raised its holdings 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 purchasing an additional 17,985,046 shares in the last quarter. 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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