Broadcom (NASDAQ:AVGO) Stock Rating Upgraded by Weiss Ratings

Key Points

• Broadcom's stock rating upgraded from "hold (c+)" to "buy (b-)" by Weiss Ratings, indicating increased investor confidence in the company's performance.
• Several analysts have raised their price targets for Broadcom, with a high of $460, suggesting a potential upside for the stock.
• Broadcom's stock has recently experienced a rise, trading up 2.9% to $354.13, reflecting positive market sentiment.

Broadcom (NASDAQ:AVGO - Get Free Report) was upgraded by Weiss Ratings from a "hold (c+)" rating to a "buy (b-)" rating in a note issued to investors on Friday,Weiss Ratings reports.

A number of other equities analysts also recently issued reports on AVGO. Evercore ISI upped their price target on Broadcom from $342.00 to $403.00 and gave the company an "outperform" rating in a report on Wednesday, October 15th. KeyCorp set a $460.00 price objective on Broadcom in a report on Monday, October 13th. JPMorgan Chase & Co. increased their price objective on Broadcom from $325.00 to $400.00 and gave the company an "overweight" rating in a report on Friday, September 5th. Truist Financial increased their price objective on Broadcom from $295.00 to $365.00 and gave the company a "buy" rating in a report on Friday, September 5th. Finally, Macquarie started coverage on Broadcom in a report on Monday, September 15th. They issued an "outperform" rating and a $420.00 price objective for the company. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $372.52.

Broadcom Stock Up 2.9%

AVGO traded up $9.84 on Friday, reaching $354.13. The company's stock had a trading volume of 16,107,104 shares, compared to its average volume of 25,777,000. The stock has a 50 day moving average of $330.52 and a two-hundred day moving average of $273.74. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The company has a market capitalization of $1.67 trillion, a price-to-earnings ratio of 90.34, a P/E/G ratio of 1.92 and a beta of 1.20. Broadcom has a fifty-two week low of $138.10 and a fifty-two week high of $374.23.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.66 by $0.03. The firm 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 36.60% and a net margin of 31.59%.The firm's quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts forecast that Broadcom will post 5.38 EPS for the current fiscal year.

Insider Activity

In related news, Director Henry Samueli sold 368,797 shares of the stock in a transaction on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total transaction of $124,620,194.27. Following the completion of the sale, the director directly owned 37,722,534 shares of the company's stock, valued at $12,746,821,463.94. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charlie B. Kawwas sold 3,893 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider directly owned 25,295 shares of the company's stock, valued at approximately $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Company insiders own 2.00% of the company's stock.

Institutional Investors Weigh In On Broadcom

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Broadcom by 1.3% in the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer's stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares during the period. State Street Corp lifted its holdings in Broadcom by 0.5% in the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer's stock valued at $51,071,601,000 after acquiring an additional 873,963 shares during the period. Geode Capital Management LLC lifted its holdings in Broadcom by 2.1% in the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer's stock valued at $29,827,649,000 after acquiring an additional 2,226,585 shares during the period. Norges Bank acquired a new stake in Broadcom in the second quarter valued at $18,579,549,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Institutional investors and hedge funds 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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