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

Broadcom (NASDAQ:AVGO) had its price objective hoisted by research analysts at Piper Sandler from $315.00 to $375.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the semiconductor manufacturer’s stock. Piper Sandler’s price objective would suggest a potential upside of 11.98% from the company’s current price.

Several other equities analysts have also issued reports on AVGO. Wells Fargo & Company lifted their price target on Broadcom from $230.00 to $255.00 and gave the company an “equal weight” rating in a research note on Friday, June 6th. KeyCorp lifted their price target on Broadcom from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. UBS Group lifted their price target on Broadcom from $290.00 to $345.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Citigroup lifted their price target on Broadcom from $285.00 to $315.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $342.00 price target (up previously from $304.00) on shares of Broadcom in a research note on Thursday. Three research 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 stock. According to data from MarketBeat, Broadcom has an average rating of “Buy” and a consensus price target of $351.00.

Broadcom Price Performance

Broadcom stock opened at $334.89 on Friday. The stock’s fifty day moving average price is $292.09 and its two-hundred day moving average price is $237.31. Broadcom has a one year low of $134.90 and a one year high of $356.34. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The firm has a market cap of $1.58 trillion, a PE ratio of 85.43, a price-to-earnings-growth ratio of 2.38 and a beta of 1.16.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 37.17% and a net margin of 31.59%.The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same quarter last year, the company earned $1.24 EPS. The company’s revenue was up 22.0% on a year-over-year basis. 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.

Insider Activity at Broadcom

In related news, Director Gayla J. Delly sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $265.13, for a total transaction of $795,390.00. Following the sale, the director owned 33,352 shares of the company’s stock, valued at $8,842,615.76. This trade represents a 8.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $265.33, for a total value of $125,739,356.34. Following the transaction, the director directly owned 38,188,575 shares in the company, valued at $10,132,574,604.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 830,516 shares of company stock worth $217,286,457 over the last 90 days. 2.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AVGO. Brighton Jones LLC lifted its stake in shares of Broadcom by 21.8% in the 4th quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer’s stock valued at $6,882,000 after purchasing an additional 5,322 shares during the period. Revolve Wealth Partners LLC lifted its stake in shares of Broadcom by 10.4% in the 4th quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer’s stock valued at $1,854,000 after purchasing an additional 756 shares during the period. Bank Pictet & Cie Europe AG lifted its stake 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 valued at $51,283,000 after purchasing an additional 31,225 shares during the period. Ethic Inc. lifted its stake in shares of Broadcom by 1,138.6% in 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. lifted its stake in shares of Broadcom by 45.7% in the 4th quarter. Fullerton Fund Management Co Ltd. now owns 201,574 shares of the semiconductor manufacturer’s stock valued at $46,733,000 after purchasing an additional 63,203 shares during the period. 76.43% of the stock is 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.