Broadcom (NASDAQ:AVGO) Given New $385.00 Price Target at Benchmark

Key Points

• Broadcom's price target has been raised by Benchmark from $315.00 to $385.00, indicating a potential upside of 25.78% from its previous close.
• The company received a "buy" rating from multiple analysts, with a consensus rating of "buy" and an average price target of $323.96.
• Broadcom reported earnings of $1.69 EPS for the past quarter, surpassing expectations and showing a 22% year-over-year revenue increase.

Broadcom (NASDAQ:AVGO - Get Free Report) had its price target boosted by analysts at Benchmark from $315.00 to $385.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the semiconductor manufacturer's stock. Benchmark's target price points to a potential upside of 14.96% from the company's current price.

AVGO has been the subject of a number of other reports. Cowen restated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Erste Group Bank upgraded Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Bank of America raised their price objective on Broadcom from $240.00 to $300.00 and gave the stock a "buy" rating in a research report on Friday, June 6th. Piper Sandler raised their price objective on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $351.00.

Broadcom Trading Up 9.4%

AVGO traded up $28.79 during trading on Friday, reaching $334.89. The company had a trading volume of 78,318,626 shares, compared to its average volume of 17,635,120. The firm's 50-day simple moving average is $292.09 and its 200 day simple moving average is $237.31. The company has a market cap 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 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 quick ratio of 0.98 and a current ratio of 1.08.

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

Insiders Place Their Bets

In related news, CFO Kirsten M. Spears sold 56,310 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $251.75, for a total value of $14,176,042.50. Following the transaction, the chief financial officer directly owned 361,937 shares of the company's stock, valued at approximately $91,117,639.75. This trade represents a 13.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 117,758 shares of the firm's stock in a transaction that occurred on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total value of $29,782,175.78. Following the completion of the transaction, the chief executive officer directly owned 1,014,152 shares in the company, valued at $256,489,182.32. The trade was a 10.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,286,457 in the last three months. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer's stock worth $133,261,046,000 after buying an additional 6,222,802 shares during the period. State Street Corp increased its position in Broadcom by 0.5% in the 2nd 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 period. Geode Capital Management LLC increased its position in Broadcom by 2.1% in the 2nd 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 period. Norges Bank bought a new position in Broadcom in the 2nd quarter worth approximately $18,579,549,000. Finally, Price T Rowe Associates Inc. MD increased its position in Broadcom by 37.8% in the 1st 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 period. 76.43% of the stock is 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.