Sanford C. Bernstein Issues Positive Forecast for Broadcom (NASDAQ:AVGO) Stock Price

Key Points

• Sanford C. Bernstein has raised its price target for Broadcom (NASDAQ: AVGO) from $295.00 to $400.00, indicating a potential upside of 18.79% from the company's previous close, and maintains an "outperform" rating.
• Broadcom reported $1.69 EPS for the quarter, exceeding estimates and showing a 22% year-over-year revenue increase of $15.95 billion, reflecting strong financial performance.
• Market sentiment is positive with three analysts rating the stock as a Strong Buy, and an average target price of $346.80 based on the consensus from multiple reports.

Broadcom (NASDAQ:AVGO - Get Free Report) had its price target upped by equities research analysts at Sanford C. Bernstein from $295.00 to $400.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the semiconductor manufacturer's stock. Sanford C. Bernstein's price objective suggests a potential upside of 18.79% from the company's previous close.

Other equities analysts have also recently issued reports about the company. HSBC upgraded Broadcom from a "hold" rating to a "buy" rating and set a $400.00 target price for the company in a research note on Tuesday, June 24th. Hsbc Global Res raised Broadcom from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 24th. Truist Financial set a $295.00 target price on shares of Broadcom and gave the company a "buy" rating in a research report on Friday, June 6th. Oppenheimer reaffirmed an "outperform" rating and set a $360.00 price target (up previously from $325.00) on shares of Broadcom in a research report on Friday. Finally, Cowen restated a "buy" rating on shares of Broadcom in a research report on Friday, June 6th. Three analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $346.80.

Broadcom Trading Up 10.0%

NASDAQ:AVGO traded up $30.62 on Friday, reaching $336.72. 44,956,076 shares of the company's stock were exchanged, compared to its average volume of 25,817,855. The business has a fifty day moving average of $290.78 and a 200-day moving average of $236.51. The company has a quick ratio of 0.98, a current ratio of 1.08 and a debt-to-equity ratio of 0.89. Broadcom has a 52-week low of $134.90 and a 52-week high of $356.34. The firm has a market capitalization of $1.58 trillion, a price-to-earnings ratio of 125.80, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period in the prior year, the firm posted $1.24 earnings per share. The firm's revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, analysts expect that Broadcom will post 5.38 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Justine Page sold 800 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $307.46, for a total transaction of $245,968.00. Following the completion of the transaction, the director directly owned 23,782 shares in the company, valued at approximately $7,312,013.72. The trade was a 3.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kirsten M. Spears sold 36,350 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total value of $9,497,164.50. Following the transaction, the chief financial officer owned 325,587 shares of the company's stock, valued at $85,066,115.49. This represents a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 830,516 shares of company stock worth $217,286,457 in the last three months. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of Broadcom

Several large investors have recently made changes to their positions in the company. Brighton Jones LLC increased its position in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock worth $6,882,000 after buying an additional 5,322 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Broadcom by 10.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock worth $1,854,000 after buying an additional 756 shares during the last quarter. Bank Pictet & Cie Europe AG lifted its holdings in shares of Broadcom by 16.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 221,199 shares of the semiconductor manufacturer's stock worth $51,283,000 after purchasing an additional 31,225 shares during the last quarter. Ethic Inc. increased its position in shares of Broadcom by 1,138.6% during the 4th quarter. Ethic Inc. now owns 319,030 shares of the semiconductor manufacturer's stock valued at $73,964,000 after purchasing an additional 293,272 shares during the period. Finally, Fullerton Fund Management Co Ltd. grew its holdings in shares of Broadcom by 45.7% during the fourth quarter. Fullerton Fund Management Co Ltd. now owns 201,574 shares of the semiconductor manufacturer's stock valued at $46,733,000 after buying an additional 63,203 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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.

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