Mizuho Increases Broadcom (NASDAQ:AVGO) Price Target to $410.00

Key Points

• Mizuho has raised its price target for Broadcom (NASDAQ:AVGO) from $355.00 to $410.00, suggesting a potential upside of 14.28% from the current price.
• Broadcom reported a 22.0% year-over-year increase in revenue, earning $1.69 EPS for the last quarter, beating analysts' expectations.
• Currently, Broadcom has a consensus rating of "Buy" with 28 analysts rating it as a Buy and three as a Strong Buy, indicating strong investor confidence.

Broadcom (NASDAQ:AVGO - Get Free Report) had its target price increased by equities research analysts at Mizuho from $355.00 to $410.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the semiconductor manufacturer's stock. Mizuho's target price indicates a potential upside of 14.28% from the company's current price.

AVGO has been the subject of a number of other reports. Sanford C. Bernstein upped their price objective on shares of Broadcom from $295.00 to $400.00 and gave the stock an "outperform" rating in a research note on Friday, September 5th. Evercore ISI reissued an "outperform" rating and set a $342.00 price target (up from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. TD Cowen increased their price target on shares of Broadcom from $355.00 to $370.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Erste Group Bank raised shares of Broadcom from a "hold" rating to a "buy" rating in a research report on Thursday, June 5th. Finally, Bank of America increased their price target on shares of Broadcom from $300.00 to $400.00 and gave the company a "buy" rating in a research report on Friday, September 5th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $354.04.

Broadcom Trading Down 0.2%

Shares of AVGO traded down $0.85 during trading hours on Friday, reaching $358.78. 5,530,446 shares of the company traded hands, compared to its average volume of 26,177,316. The firm has a market cap of $1.69 trillion, a price-to-earnings ratio of 91.62, a PEG ratio of 2.04 and a beta of 1.16. Broadcom has a 12-month low of $138.10 and a 12-month high of $374.23. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86. The stock's fifty day moving average price is $298.61 and its 200 day moving average price is $240.90.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its 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. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same period in the previous year, the firm earned $1.24 earnings per share. The business's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. Sell-side analysts forecast that Broadcom will post 5.38 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 473,898 shares of the stock in a transaction that occurred 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 transaction, the director owned 38,188,575 shares in the company, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 800 shares of the stock in a transaction that occurred 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 transaction, the director owned 23,782 shares in the company, valued at $7,312,013.72. This trade represents a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have bought 3,550 shares of company stock worth $1,227,869 and have sold 702,758 shares worth $184,975,481. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Broadcom

A number of hedge funds and other institutional investors have recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom in the 1st quarter worth $25,000. Cheviot Value Management LLC acquired a new stake in shares of Broadcom in the 1st quarter worth $25,000. Inlight Wealth Management LLC acquired a new stake in shares of Broadcom in the 1st quarter worth $26,000. Sawyer & Company Inc increased its stake 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 acquiring an additional 36 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new stake in shares of Broadcom in the 2nd quarter worth $27,000. 76.43% of the stock is owned by institutional investors and hedge funds.

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.

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