Broadcom (NASDAQ:AVGO) Given New $345.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo has increased Broadcom's target price from $255 to $345, indicating a potential upside of 3.54% from its previous close, while maintaining an "equal weight" rating.
• Analysts have a consensus rating of "Buy" for Broadcom, with a collective target price of approximately $344.58, following several recent price upgrades from other firms.
• Broadcom's stock has shown strong performance, trading up 8.9% to $333.22, with a market capitalization of $1.57 trillion and a 52-week range between $134.90 and $356.34.

Broadcom (NASDAQ:AVGO - Free Report) had its price target raised by Wells Fargo & Company from $255.00 to $345.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an equal weight rating on the semiconductor manufacturer's stock.

Several other brokerages have also recently weighed in on AVGO. Rosenblatt Securities upped their price target on Broadcom from $340.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday. HSBC raised Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Tuesday, June 24th. Citigroup upped their price target on Broadcom from $285.00 to $315.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Benchmark upped their price target on Broadcom from $315.00 to $385.00 and gave the stock a "buy" rating in a research note on Friday. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Three equities 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $351.00.

Broadcom Trading Up 9.4%

Shares of Broadcom stock traded up $28.79 during midday trading 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. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.98 and a current ratio of 1.08. The company has a market cap of $1.58 trillion, a PE ratio of 85.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16. The stock has a 50 day moving average of $292.09 and a 200-day moving average of $237.31. Broadcom has a 12 month low of $134.90 and a 12 month high of $356.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. Broadcom had a return on equity of 37.17% and a net margin of 31.59%.The firm's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts expect that Broadcom will post 5.38 EPS for the current fiscal year.

Broadcom Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, September 22nd. Broadcom's dividend payout ratio is currently 88.39%.

Insider Transactions at Broadcom

In related news, 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 sale, the director directly owned 23,782 shares of the company's stock, valued at $7,312,013.72. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 473,898 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total value of $125,739,356.34. Following the sale, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, 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 Investors Weigh In On Broadcom

Several institutional investors have recently modified their holdings of AVGO. Brighton Jones LLC boosted its position in shares of Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after buying an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Broadcom by 10.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after acquiring an additional 756 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in Broadcom by 16.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock valued at $51,283,000 after acquiring an additional 31,225 shares during the period. Ethic Inc. lifted its holdings in Broadcom by 1,138.6% in the fourth quarter. Ethic Inc. now owns 319,030 shares of the semiconductor manufacturer's stock valued at $73,964,000 after acquiring an additional 293,272 shares during the period. Finally, Fullerton Fund Management Co Ltd. lifted its holdings in Broadcom by 45.7% in the fourth quarter. Fullerton Fund Management Co Ltd. now owns 201,574 shares of the semiconductor manufacturer's stock valued at $46,733,000 after acquiring an additional 63,203 shares during the period. 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.