Benchmark Forecasts Strong Price Appreciation for Broadcom (NASDAQ:AVGO) Stock

Broadcom (NASDAQ:AVGO) had its target price raised by stock analysts at Benchmark from $315.00 to $385.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. Benchmark’s target price would suggest a potential upside of 14.96% from the stock’s previous close.

Several other research firms have also recently issued reports on AVGO. Citigroup upped their price target on shares of Broadcom from $285.00 to $315.00 and gave the company a “buy” rating in a report on Monday, July 7th. Rosenblatt Securities upped their price target on shares of Broadcom from $223.00 to $340.00 and gave the company a “buy” rating in a report on Friday, June 6th. Evercore ISI reissued an “outperform” rating and set a $342.00 target price (up from $304.00) on shares of Broadcom in a report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $300.00 target price on shares of Broadcom in a report on Friday, June 6th. Finally, UBS Group increased their target price on shares of Broadcom from $290.00 to $345.00 and gave the stock a “buy” rating in a report on Monday, August 25th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of “Buy” and an average price target of $351.00.

Broadcom Trading Up 9.4%

AVGO opened at $334.89 on Friday. The stock has a market capitalization of $1.58 trillion, a PE ratio of 85.43, a P/E/G ratio of 2.38 and a beta of 1.16. The firm’s fifty day moving average price is $292.09 and its 200 day moving average price is $237.31. 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 12-month low of $134.90 and a 12-month high of $356.34.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results 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. The firm had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 37.17%. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts expect that Broadcom will post 5.38 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Henry Samueli sold 473,898 shares of the 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 sale, the director owned 38,188,575 shares of the company’s stock, valued at $10,132,574,604.75. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gayla J. Delly sold 3,000 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the completion of the sale, the director directly owned 33,352 shares in the company, valued at approximately $8,842,615.76. This trade represents a 8.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 830,516 shares of company stock worth $217,286,457. 2.00% of the stock is owned by company insiders.

Institutional Trading of Broadcom

Large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Broadcom during the 2nd quarter valued at about $18,579,549,000. Nuveen LLC acquired a new position in Broadcom during the 1st quarter valued at about $6,649,117,000. Price T Rowe Associates Inc. MD increased its stake in Broadcom by 37.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after buying an additional 17,985,046 shares during the period. GAMMA Investing LLC increased its stake in Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer’s stock valued at $2,892,548,000 after buying an additional 17,181,652 shares during the period. Finally, Vanguard Group Inc. increased its stake in Broadcom by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after buying an additional 6,222,802 shares during the period. Institutional investors and hedge funds 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.