Broadcom (NASDAQ:AVGO) Rating Increased to Buy at Wall Street Zen

Key Points

• Broadcom has been upgraded to a "buy" rating by analysts at Wall Street Zen, moving from a previous "hold" rating, indicating positive outlook for the company's future performance.
• Multiple research firms have raised their target prices for Broadcom, with UBS Group setting a new target of $290.00, reflecting growing confidence among analysts.
• In recent trading, shares of Broadcom opened at $306.34, against a one-year high of $317.35, showcasing significant stock performance within a volatile market environment.

Broadcom (NASDAQ:AVGO - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Sunday.

AVGO has been the topic of several other reports. Evercore ISI reiterated an "outperform" rating and set a $304.00 target price (up from $267.00) on shares of Broadcom in a research report on Friday, June 6th. Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research report on Wednesday, April 30th. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target on the stock in a research report on Tuesday, June 24th. Cowen restated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Finally, Barclays boosted their price target on shares of Broadcom from $215.00 to $265.00 and gave the stock an "overweight" rating in a research report on Monday, June 9th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Broadcom currently has a consensus rating of "Buy" and an average target price of $295.96.

Broadcom Price Performance

Shares of Broadcom stock traded down $10.9380 during midday trading on Friday, hitting $294.8220. 11,620,722 shares of the company traded hands, compared to its average volume of 26,065,324. The stock has a market cap of $1.39 trillion, a price-to-earnings ratio of 110.31, a PEG ratio of 2.18 and a beta of 1.15. 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 firm's fifty day moving average price is $279.50 and its 200-day moving average price is $230.48. Broadcom has a 12 month low of $134.90 and a 12 month high of $317.35.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, June 5th. The semiconductor manufacturer reported $1.58 EPS for the quarter, topping the consensus estimate of $1.57 by $0.01. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The business had revenue of $15 billion for the quarter, compared to the consensus estimate of $14.98 billion. During the same period last year, the company earned $10.96 EPS. The firm's revenue was up 20.2% compared to the same quarter last year. Broadcom has set its Q3 2025 guidance at EPS. As a group, sell-side analysts forecast that Broadcom will post 5.38 earnings per share for the current year.

Insider Transactions at Broadcom

In other news, Director Justine Page sold 800 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $307.46, for a total value of $245,968.00. Following the completion of the sale, the director owned 23,782 shares in the company, valued at $7,312,013.72. This represents a 3.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the sale, the director owned 38,188,575 shares of the company's stock, valued at approximately $10,132,574,604.75. The trade was a 1.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Broadcom

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sawyer & Company Inc boosted its holdings in shares of Broadcom by 62.1% in the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after buying 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 worth about $27,000. Legend Financial Advisors Inc. purchased a new position in shares of Broadcom in the 2nd quarter worth about $28,000. Teachers Insurance & Annuity Association of America purchased a new stake in Broadcom during the second quarter valued at about $28,000. Finally, LGT Financial Advisors LLC purchased a new stake in Broadcom during the second quarter valued at about $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.