Broadcom (NASDAQ:AVGO) Stock Price Expected to Rise, Truist Financial Analyst Says

Key Points

• Truist Financial increased its price target for Broadcom's stock from $295 to $365, indicating an expected 8.61% potential upside from the last close.
• Multiple analysts have raised their price targets for Broadcom, with estimates reaching as high as $400, while the consensus rating remains a "Buy" with an average target of $349.60.
• Broadcom reported strong quarterly earnings, with a 22% year-over-year revenue increase and EPS of $1.69, surpassing analyst expectations.

Broadcom (NASDAQ:AVGO - Get Free Report) had its price objective upped by equities researchers at Truist Financial from $295.00 to $365.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the semiconductor manufacturer's stock. Truist Financial's price target would suggest a potential upside of 8.61% from the stock's previous close.

Several other analysts also recently issued reports on AVGO. Piper Sandler upped their price target on shares of Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a report on Friday. JPMorgan Chase & Co. upped their price target on shares of Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a report on Friday. Wall Street Zen cut Broadcom from a "buy" rating to a "hold" rating in a report on Monday, August 25th. TD Cowen increased their target price on Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a report on Friday. Finally, Hsbc Global Res upgraded Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $349.60.

Broadcom Stock Performance

NASDAQ AVGO traded up $29.97 on Friday, hitting $336.07. 50,784,499 shares of the company's stock were exchanged, compared to its average volume of 25,850,844. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The firm's 50-day moving average price is $290.78 and its two-hundred day moving average price is $236.51. Broadcom has a fifty-two week low of $134.90 and a fifty-two week high of $356.34. The firm has a market cap of $1.58 trillion, a price-to-earnings ratio of 125.73, a P/E/G ratio of 2.15 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last released 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 company had revenue of $15.95 billion for the quarter, compared to analysts' expectations of $15.82 billion. Broadcom had a return on equity of 35.49% and a net margin of 22.64%.The firm's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts expect that Broadcom will post 5.38 EPS for the current year.

Insider Buying and Selling

In other news, CEO Hock E. Tan sold 40,000 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $268.29, for a total value of $10,731,600.00. Following the completion of the sale, the chief executive officer owned 482,836 shares of the company's stock, valued at $129,540,070.44. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Justine Page sold 800 shares of the stock in a transaction 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 completion of the sale, the director directly owned 23,782 shares of the company's stock, valued at $7,312,013.72. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 830,516 shares of company stock valued at $217,286,457. 2.00% of the stock is owned by corporate insiders.

Institutional Trading of Broadcom

Several large investors have recently modified their holdings of AVGO. Redwood Financial Network Corp grew its holdings in Broadcom by 1.7% during the second quarter. Redwood Financial Network Corp now owns 1,939 shares of the semiconductor manufacturer's stock valued at $535,000 after purchasing an additional 33 shares during the period. Sawyer & Company Inc grew its holdings in Broadcom by 62.1% during the second 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 period. PFS Partners LLC grew its holdings in Broadcom by 38.4% during the second quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after purchasing an additional 38 shares during the period. Costello Asset Management INC grew its holdings in Broadcom by 1.5% during the second 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 grew its holdings in Broadcom by 1.0% during the second 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. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.