Rosenblatt Securities Increases Broadcom (NASDAQ:AVGO) Price Target to $400.00

Key Points

• Rosenblatt Securities has raised its price target for Broadcom (NASDAQ:AVGO) to $400.00, reflecting a potential upside of 30.68% from the previous close.
• The semiconductor manufacturer reported a Q3 earnings per share of $1.69, surpassing analysts’ expectations of $1.66.
• Over the past few months, multiple analysts have shown strong support for Broadcom, with 26 analysts rating it as a Buy and three as a Strong Buy.

Broadcom (NASDAQ:AVGO - Free Report) had its price target increased by Rosenblatt Securities from $340.00 to $400.00 in a research report report published on Friday morning,Benzinga reports. Rosenblatt Securities currently has a buy rating on the semiconductor manufacturer's stock.

A number of other equities research analysts have also issued reports on AVGO. HSBC upgraded shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price on the stock in a research note on Tuesday, June 24th. Oppenheimer restated an "outperform" rating and issued a $325.00 target price (up previously from $305.00) on shares of Broadcom in a research note on Thursday, August 28th. Cowen restated a "buy" rating on shares of Broadcom in a research note on Friday, June 6th. Redburn Atlantic assumed coverage on shares of Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 target price on the stock. Finally, Arete Research upgraded shares of Broadcom to a "strong-buy" rating in a research note on Monday, July 28th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Broadcom presently has a consensus rating of "Buy" and an average price target of $351.00.

Broadcom Stock Up 9.4%

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

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. The business had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 37.17%. The company's revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Equities research analysts anticipate that Broadcom will post 5.38 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio is 88.39%.

Insider Transactions at Broadcom

In other Broadcom news, Director Henry Samueli sold 473,898 shares of the company's stock in a transaction dated 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 completion of the transaction, the director owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Hock E. Tan sold 117,758 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the completion of the transaction, the chief executive officer owned 1,014,152 shares of the company's stock, valued at approximately $256,489,182.32. This trade represents a 10.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 830,516 shares of company stock worth $217,286,457 in the last quarter. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Broadcom

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC acquired a new position in Broadcom in the 1st quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new position in Broadcom during the 1st quarter worth approximately $25,000. Inlight Wealth Management LLC purchased a new position in Broadcom during the 1st quarter worth approximately $26,000. Sawyer & Company Inc grew its position in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock worth $26,000 after purchasing an additional 36 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC purchased a new position in Broadcom during the 2nd quarter worth approximately $27,000. 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.