Broadcom (NASDAQ:AVGO) Given New $350.00 Price Target at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank raised Broadcom's price target from $300 to $350, indicating a potential upside of 14.34% from its current price and maintaining a "buy" rating.
• Other analysts, including JPMorgan Chase and Rosenblatt Securities, also increased their price targets to as high as $400, showing strong confidence in the stock.
• Broadcom reported a quarterly earnings per share of $1.69, exceeding estimates, and experienced a 22% revenue increase year-over-year.

Broadcom (NASDAQ:AVGO - Get Free Report) had its price objective hoisted by equities researchers at Deutsche Bank Aktiengesellschaft from $300.00 to $350.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the semiconductor manufacturer's stock. Deutsche Bank Aktiengesellschaft's price target would indicate a potential upside of 4.51% from the company's previous close.

AVGO has been the subject of several other reports. Arete Research raised shares of Broadcom to a "strong-buy" rating in a report on Monday, July 28th. The Goldman Sachs Group reiterated a "buy" rating and issued a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Oppenheimer reaffirmed an "outperform" rating and set a $325.00 price target (up previously from $305.00) on shares of Broadcom in a report on Thursday, August 28th. Mizuho lifted their price target on shares of Broadcom from $315.00 to $320.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Barclays boosted their target price on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a report on Monday, June 9th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $351.00.

Broadcom Stock Up 9.4%

NASDAQ AVGO traded up $28.79 during trading hours on Friday, reaching $334.89. 78,318,626 shares of the company's stock traded hands, compared to its average volume of 17,635,120. Broadcom has a 52-week low of $134.90 and a 52-week high of $356.34. The firm has a market cap of $1.58 trillion, a PE ratio of 85.43, a PEG ratio of 2.38 and a beta of 1.16. The firm has a 50-day simple moving average of $292.09 and a 200 day simple moving average of $237.31. 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 issued its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 37.17%. The business's revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts anticipate that Broadcom will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling at Broadcom

In other Broadcom news, CEO Hock E. Tan sold 40,000 shares of the stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $268.29, for a total transaction of $10,731,600.00. Following the completion of the sale, the chief executive officer directly owned 482,836 shares of the company's stock, valued at approximately $129,540,070.44. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the sale, the chief financial officer directly owned 325,587 shares of the company's stock, valued at approximately $85,066,115.49. The trade was a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadcom

Hedge funds have recently modified their holdings of the company. Sawyer & Company Inc raised its position in shares of 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 purchasing an additional 36 shares during the last quarter. Longfellow Investment Management Co. LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at approximately $27,000. Legend Financial Advisors Inc. purchased a new position in shares of Broadcom in the 2nd quarter valued at approximately $28,000. Teachers Insurance & Annuity Association of America purchased a new position in shares of Broadcom in the 2nd quarter valued at approximately $28,000. Finally, LGT Financial Advisors LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at approximately $31,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

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.