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

Broadcom (NASDAQ:AVGO) had its price target hoisted by stock analysts at Evercore ISI from $342.00 to $403.00 in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has an “outperform” rating on the semiconductor manufacturer’s stock. Evercore ISI’s price target points to a potential upside of 13.79% from the company’s previous close.

AVGO has been the subject of several other reports. Mizuho set a $430.00 price target on Broadcom in a research report on Monday. Deutsche Bank Aktiengesellschaft set a $400.00 price target on Broadcom and gave the company a “buy” rating in a research report on Tuesday. Oppenheimer reiterated an “outperform” rating and set a $360.00 price target (up from $325.00) on shares of Broadcom in a research report on Friday, September 5th. Piper Sandler lifted their price target on Broadcom from $315.00 to $375.00 and gave the company an “overweight” rating in a research report on Friday, September 5th. Finally, UBS Group set a $415.00 price target on Broadcom and gave the company a “buy” rating in a research report on Tuesday. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Broadcom currently has an average rating of “Buy” and an average target price of $372.33.

Broadcom Trading Up 0.8%

Shares of NASDAQ:AVGO opened at $354.15 on Wednesday. Broadcom has a 52-week low of $138.10 and a 52-week high of $374.23. The stock has a market cap of $1.67 trillion, a price-to-earnings ratio of 90.34, a PEG ratio of 1.98 and a beta of 1.20. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The business has a 50-day moving average price of $326.84 and a 200-day moving average price of $267.33.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The firm had revenue of $15.95 billion during the quarter, compared to analysts’ expectations of $15.82 billion. During the same period last year, the business posted $1.24 earnings per share. The company’s revenue for the quarter was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Equities analysts predict that Broadcom will post 5.38 EPS for the current year.

Insider Transactions at Broadcom

In other news, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction that occurred on Wednesday, September 24th. The stock was sold at an average price of $337.91, for a total value of $124,620,194.27. Following the sale, the director directly owned 37,722,534 shares of the company’s stock, valued at $12,746,821,463.94. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charlie B. Kawwas sold 3,893 shares of Broadcom stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the completion of the sale, the insider directly owned 25,295 shares in the company, valued at $8,798,106.90. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,464,248. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. Arthur M. Cohen & Associates LLC lifted its position in Broadcom by 0.6% during the third quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock worth $1,577,000 after buying an additional 30 shares during the period. McHugh Group LLC lifted its position in Broadcom by 0.4% during the third quarter. McHugh Group LLC now owns 8,433 shares of the semiconductor manufacturer’s stock worth $2,782,000 after buying an additional 31 shares during the period. Redwood Financial Network Corp lifted its position in Broadcom by 1.7% during the second quarter. Redwood Financial Network Corp now owns 1,939 shares of the semiconductor manufacturer’s stock worth $535,000 after buying an additional 33 shares during the period. BancFirst Trust & Investment Management lifted its position in Broadcom by 2.9% during the third quarter. BancFirst Trust & Investment Management now owns 1,235 shares of the semiconductor manufacturer’s stock worth $405,000 after buying an additional 35 shares during the period. Finally, Sawyer & Company Inc lifted its position in Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 36 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.