Jefferies Financial Group Raises Broadcom (NASDAQ:AVGO) Price Target to $225.00

Broadcom (NASDAQ:AVGO) had its price target increased by equities researchers at Jefferies Financial Group from $205.00 to $225.00 in a report released on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 0.09% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Cantor Fitzgerald raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock an “overweight” rating in a report on Tuesday, October 8th. Piper Sandler raised their target price on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday. UBS Group raised their target price on shares of Broadcom from $170.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Susquehanna raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a report on Friday. Finally, Bank of America lifted their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $220.33.

Broadcom Trading Up 24.4 %

NASDAQ:AVGO opened at $224.80 on Friday. Broadcom has a 12 month low of $104.15 and a 12 month high of $228.70. The firm has a fifty day simple moving average of $174.61 and a 200-day simple moving average of $164.45. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $1.05 trillion, a P/E ratio of 182.76, a PEG ratio of 2.15 and a beta of 1.13.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same quarter last year, the company posted $0.98 earnings per share. The firm’s revenue was up 51.2% compared to the same quarter last year. On average, equities research analysts anticipate that Broadcom will post 3.79 earnings per share for the current year.

Insider Buying and Selling at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 18,900 shares of the business’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now directly owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 4.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Hock E. Tan sold 50,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the completion of the transaction, the chief executive officer now owns 1,331,910 shares in the company, valued at $217,594,136.70. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last ninety days. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Broadcom

Large investors have recently made changes to their positions in the stock. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Broadcom in the 2nd quarter worth approximately $128,000. Mark Sheptoff Financial Planning LLC purchased a new stake in Broadcom during the 2nd quarter worth approximately $136,000. American Capital Advisory LLC purchased a new stake in Broadcom during the 2nd quarter worth approximately $169,000. Semus Wealth Partners LLC purchased a new stake in Broadcom during the 2nd quarter worth approximately $202,000. Finally, Palisades Hudson Asset Management L.P. purchased a new stake in Broadcom during the 2nd quarter worth approximately $204,000. 76.43% of the stock is currently 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.