Broadcom (NASDAQ:AVGO) Given New $400.00 Price Target at KeyCorp

Key Points

• Analysts at KeyCorp have raised their target price for Broadcom (NASDAQ:AVGO) from $330.00 to $400.00, indicating a potential upside of 30.68%.
• Multiple brokerages, including TD Cowen and JPMorgan Chase, have upgraded Broadcom's stock ratings to "buy" with target prices also reaching $400.00.
• In the recent quarter, Broadcom reported earnings of $1.69 per share, exceeding expectations, and has guided for a strong fiscal year with an expectation of 5.38 EPS.

Broadcom (NASDAQ:AVGO - Get Free Report) had its price objective hoisted by investment analysts at KeyCorp from $330.00 to $400.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the semiconductor manufacturer's stock. KeyCorp's price objective points to a potential upside of 19.44% from the stock's current price.

Several other equities research analysts also recently commented on AVGO. Oppenheimer reissued an "outperform" rating and set a $325.00 target price (up from $305.00) on shares of Broadcom in a research report on Thursday, August 28th. Redburn Atlantic initiated coverage on Broadcom in a report on Wednesday, May 28th. They set a "buy" rating and a $301.00 price objective for the company. Morgan Stanley increased their price objective on Broadcom from $338.00 to $357.00 and gave the stock an "overweight" rating in a research note on Tuesday. UBS Group raised their target price on Broadcom from $290.00 to $345.00 and gave the company a "buy" rating in a report on Monday, August 25th. Finally, The Goldman Sachs Group reiterated a "buy" rating and set a $340.00 price target on shares of Broadcom in a report on Wednesday, August 13th. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $351.00.

Broadcom Trading Up 9.4%

Shares of NASDAQ:AVGO traded up $28.79 during midday trading on Friday, reaching $334.89. The company's stock had a trading volume of 78,318,626 shares, compared to its average volume of 17,635,120. Broadcom has a fifty-two week low of $134.90 and a fifty-two week high of $356.34. 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 has a 50 day moving average price of $292.09 and a two-hundred day moving average price of $237.31. The firm has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 85.43, a PEG ratio of 2.38 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate 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 net margin of 31.59% and a return on equity of 37.17%. The company's quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts forecast that Broadcom will post 5.38 earnings per share for the current year.

Insider Activity

In related news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kirsten M. Spears sold 56,310 shares of the company's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $251.75, for a total value of $14,176,042.50. Following the completion of the transaction, the chief financial officer owned 361,937 shares in the company, valued at approximately $91,117,639.75. The trade was a 13.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Broadcom

A number of hedge funds and other institutional investors have recently bought and sold shares of AVGO. PARUS FINANCE UK Ltd boosted its stake in Broadcom by 175.3% in the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer's stock worth $16,840,000 after purchasing an additional 64,038 shares during the period. Keener Financial Planning LLC boosted its position in shares of Broadcom by 34.8% in the first quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer's stock valued at $149,000 after acquiring an additional 230 shares during the period. Diversify Wealth Management LLC grew its stake in Broadcom by 5.6% during the first quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer's stock valued at $6,365,000 after acquiring an additional 2,016 shares in the last quarter. OMNI 360 Wealth Inc. increased its holdings in Broadcom by 51.6% during the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer's stock worth $499,000 after acquiring an additional 1,014 shares during the period. Finally, Gamco Investors INC. ET AL increased its holdings in Broadcom by 1.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 54,406 shares of the semiconductor manufacturer's stock worth $9,109,000 after acquiring an additional 700 shares during the period. Institutional investors own 76.43% of the company's stock.

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.