Broadcom (NASDAQ:AVGO) Price Target Raised to $400.00 at JPMorgan Chase & Co.

Key Points

• JPMorgan Chase & Co. has raised its target price for Broadcom (NASDAQ:AVGO) from $325.00 to $400.00, suggesting a potential upside of 30.68% from the company's previous close.
• Broadcom's stock is currently rated "overweight" by multiple analysts, with a consensus rating of "Buy" and an average target price of $329.38.
• Broadcom's latest quarterly earnings showed a revenue of $15.95 billion and an EPS of $1.69, outperforming analyst expectations.

Broadcom (NASDAQ:AVGO - Get Free Report) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $325.00 to $400.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the semiconductor manufacturer's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 19.44% from the stock's current price.

Other analysts have also recently issued research reports about the stock. Rosenblatt Securities raised their price objective on shares of Broadcom from $340.00 to $400.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company raised their price objective on shares of Broadcom from $230.00 to $255.00 and gave the company an "equal weight" rating in a research report on Friday, June 6th. Truist Financial set a $295.00 price objective on shares of Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. Evercore ISI reaffirmed an "outperform" rating and set a $342.00 target price (up previously from $304.00) on shares of Broadcom in a report on Thursday. Finally, Morgan Stanley increased their target price on shares of Broadcom from $338.00 to $357.00 and gave the company an "overweight" rating in a report on Tuesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, Broadcom has an average rating of "Buy" and a consensus target price of $351.00.

Broadcom Price Performance

Shares of Broadcom stock traded up $28.79 on Friday, hitting $334.89. 78,318,626 shares of the company traded hands, compared to its average volume of 17,635,120. The firm's 50-day simple moving average is $292.09 and its 200 day simple moving average is $237.31. The company has a current ratio of 1.08, a quick ratio of 0.98 and a debt-to-equity ratio of 0.89. The company has a market cap of $1.58 trillion, a P/E ratio of 85.43, a P/E/G ratio of 2.38 and a beta of 1.16. Broadcom has a 12-month low of $134.90 and a 12-month high of $356.34.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. The firm had revenue of $15.95 billion for 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 quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the company posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts expect that Broadcom will post 5.38 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Broadcom news, Director Justine Page sold 800 shares of the firm'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 sale, the director owned 23,782 shares of the company's stock, valued at $7,312,013.72. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of the firm's stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares in the company, valued at approximately $8,842,615.76. This trade represents a 8.25% 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 currently owned by insiders.

Institutional Investors Weigh In On Broadcom

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer's stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares during the period. State Street Corp lifted its position in shares of Broadcom by 0.5% in the 2nd quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer's stock worth $51,071,601,000 after purchasing an additional 873,963 shares during the period. Geode Capital Management LLC lifted its position in shares of Broadcom by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer's stock worth $29,827,649,000 after purchasing an additional 2,226,585 shares during the period. Norges Bank purchased a new stake in shares of Broadcom in the 2nd quarter worth about $18,579,549,000. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Broadcom by 37.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock worth $10,968,270,000 after purchasing an additional 17,985,046 shares during the period. Institutional investors 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.