Broadcom (NASDAQ:AVGO) Price Target Raised to $400.00

Broadcom (NASDAQ:AVGO) had its target price upped by Rosenblatt Securities from $340.00 to $400.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the semiconductor manufacturer’s stock.

AVGO has been the topic of a number of other research reports. Barclays lifted their price target on shares of Broadcom from $215.00 to $265.00 and gave the company an “overweight” rating in a report on Monday, June 9th. Arete Research upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, July 28th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $300.00 price target on shares of Broadcom in a report on Friday, June 6th. UBS Group lifted their price target on shares of Broadcom from $290.00 to $345.00 and gave the company a “buy” rating in a report on Monday, August 25th. Finally, Benchmark lifted their price target on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a report on Friday. Three investment 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 stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $351.00.

Broadcom Stock Up 9.4%

Shares of AVGO opened at $334.89 on Friday. 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. The company’s fifty day moving average is $292.09 and its two-hundred day moving average is $237.38. Broadcom has a fifty-two week low of $134.90 and a fifty-two week high of $356.34. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. Broadcom’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter last year, the business earned $1.24 EPS. Broadcom has set its Q4 2025 guidance at EPS. Analysts forecast that Broadcom will post 5.38 earnings per share for the current year.

Broadcom Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be issued a dividend of $0.59 per share. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. Broadcom’s payout ratio is presently 60.20%.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 117,758 shares of Broadcom stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $252.91, for a total transaction of $29,782,175.78. Following the sale, the chief executive officer owned 1,014,152 shares of the company’s stock, valued at $256,489,182.32. The trade was a 10.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 50,000 shares of Broadcom stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the sale, the insider directly owned 415,956 shares in the company, valued at $105,353,335.68. This trade represents a 10.73% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 830,516 shares of company stock worth $217,286,457. Corporate insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PARUS FINANCE UK Ltd increased its stake in Broadcom by 175.3% during the 1st quarter. PARUS FINANCE UK Ltd now owns 100,578 shares of the semiconductor manufacturer’s stock worth $16,840,000 after buying an additional 64,038 shares during the period. Keener Financial Planning LLC increased its stake in Broadcom by 34.8% during the 1st quarter. Keener Financial Planning LLC now owns 890 shares of the semiconductor manufacturer’s stock worth $149,000 after buying an additional 230 shares during the period. Diversify Wealth Management LLC increased its stake in Broadcom by 5.6% during the 1st quarter. Diversify Wealth Management LLC now owns 38,016 shares of the semiconductor manufacturer’s stock worth $6,365,000 after buying an additional 2,016 shares during the period. OMNI 360 Wealth Inc. increased its stake in Broadcom by 51.6% during the 1st quarter. OMNI 360 Wealth Inc. now owns 2,980 shares of the semiconductor manufacturer’s stock worth $499,000 after buying an additional 1,014 shares during the period. Finally, Gamco Investors INC. ET AL increased its stake in Broadcom by 1.3% during the 1st quarter. Gamco Investors INC. ET AL now owns 54,406 shares of the semiconductor manufacturer’s stock worth $9,109,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 76.43% of the company’s stock.

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.