Broadcom (NASDAQ:AVGO) Rating Increased to Buy at Wall Street Zen

Broadcom (NASDAQ:AVGO) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

AVGO has been the subject of a number of other reports. Oppenheimer reaffirmed an “outperform” rating and issued a $360.00 target price (up from $325.00) on shares of Broadcom in a report on Friday. Benchmark upped their target price on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a report on Friday. Evercore ISI reaffirmed an “outperform” rating and issued a $342.00 target price (up from $304.00) on shares of Broadcom in a report on Thursday. Susquehanna upped their target price on shares of Broadcom from $280.00 to $300.00 and gave the company a “positive” rating in a report on Friday, June 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Buy” and an average target price of $351.00.

Broadcom Stock Performance

NASDAQ AVGO opened at $334.89 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. Broadcom has a 1 year low of $134.90 and a 1 year high of $356.34. The company has a market capitalization of $1.58 trillion, a PE ratio of 85.43, a P/E/G ratio of 2.17 and a beta of 1.16. The company has a fifty day moving average of $292.09 and a two-hundred day moving average of $237.25.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 37.17%. The company had revenue of $15.95 billion during the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the prior year, the firm posted $1.24 earnings per share. Broadcom’s revenue for the quarter 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 Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 50,000 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares in the company, valued at approximately $105,353,335.68. This represents a 10.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the transaction, the insider owned 789,784 shares in the company, valued at $199,720,577.92. The trade was a 1.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock valued at $217,286,457 in the last ninety days. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of Broadcom in the first quarter valued at approximately $25,000. Cheviot Value Management LLC acquired a new stake in shares of Broadcom in the first quarter valued at approximately $25,000. Inlight Wealth Management LLC acquired a new stake in shares of Broadcom in the first quarter valued at approximately $26,000. Sawyer & Company Inc grew its position in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Finally, Longfellow Investment Management Co. LLC acquired a new stake in shares of Broadcom in the second quarter valued at approximately $27,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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.