Broadcom Inc. (NASDAQ:AVGO) Receives $493.24 Consensus Price Target from Brokerages

Shares of Broadcom Inc. (NASDAQ:AVGO) have received a consensus rating of “Moderate Buy” from the thirty-three brokerages that are currently covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $493.2414.

Several brokerages have issued reports on AVGO. Royal Bank Of Canada raised their price objective on shares of Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 4th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Susquehanna reiterated a “positive” rating and issued a $490.00 price target (up from $450.00) on shares of Broadcom in a report on Thursday, May 28th. Wells Fargo & Company reissued an “overweight” rating and set a $545.00 price target (up from $430.00) on shares of Broadcom in a research note on Thursday, May 14th. Finally, Weiss Ratings upgraded Broadcom from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday.

Broadcom Trading Down 1.0%

AVGO stock opened at $370.83 on Thursday. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom has a twelve month low of $273.00 and a twelve month high of $495.00. The stock has a market capitalization of $1.76 trillion, a price-to-earnings ratio of 61.81, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. The firm’s fifty day simple moving average is $401.29 and its two-hundred day simple moving average is $365.31.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business’s revenue was up 47.9% on a year-over-year basis. During the same quarter last year, the business earned $1.58 EPS. As a group, analysts anticipate that Broadcom will post 10.24 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s dividend payout ratio (DPR) is 43.33%.

Broadcom News Summary

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Standard Chartered chose Broadcom to support a long-term modernization of its global banking infrastructure, underscoring Broadcom’s role in secure private-cloud and enterprise networking solutions. Standard Chartered Selects Broadcom to Deliver Secure, Always-On Banking Services at Global Scale
• Positive Sentiment: Wall Street commentary continues to describe Broadcom as a core AI beneficiary, and some analysts have raised price targets even after the stock pullback. As Shares Fall, Analyst Are Boosting Their Broadcom Price Targets
• Neutral Sentiment: Broadcom remains a major talking point in AI-focused market coverage, with some investors viewing it as an indicator for the broader market and semiconductor cycle. Jim Cramer Says Broadcom Will Tell You When the Market Is About to Turn
• Negative Sentiment: Broadcom is facing renewed skepticism around valuation, with one report asking whether the AI story has made the stock too expensive. Has Broadcom Become Too Expensive for Its AI Story?
• Negative Sentiment: The stock is also being hit by a broader selloff in semiconductor names as investors rotate away from AI-capex winners and worry about a slowdown in chip spending. Marvell Drops 8% as AI Capex Slowdown Fears Weigh on Chips; Broadcom, AMD, and Intel Slide
• Negative Sentiment: Broadcom is also dealing with regulatory uncertainty after reports said it faces an EU antitrust review tied to VMware licensing changes. Broadcom (AVGO) Faces EU Antitrust Review Over VMware Licensing Changes

Insider Activity at Broadcom

In related news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the sale, the insider owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Harry L. You acquired 1,000 shares of the stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the completion of the transaction, the director owned 38,466 shares in the company, valued at $14,369,743.62. This trade represents a 2.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold a total of 61,644 shares of company stock valued at $24,016,214 over the last ninety days. Company insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Broadcom

A number of institutional investors have recently modified their holdings of the stock. Fullerton Advisors LLC raised its position in Broadcom by 1.3% in the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after purchasing an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co lifted its stake in shares of Broadcom by 0.5% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after purchasing an additional 25 shares in the last quarter. RFG Holdings Inc. boosted its position in shares of Broadcom by 0.3% in the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock worth $2,631,000 after buying an additional 26 shares during the period. Yukon Wealth Management Inc. grew its stake in shares of Broadcom by 1.1% in the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock valued at $774,000 after buying an additional 26 shares in the last quarter. Finally, NerdWallet Wealth Partners LLC grew its stake in shares of Broadcom by 2.6% in the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock valued at $399,000 after buying an additional 27 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.