Broadcom (NASDAQ:AVGO) Receives Buy Rating from Rosenblatt Securities

Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a report issued on Thursday,Benzinga reports. They presently have a $500.00 target price on the semiconductor manufacturer’s stock. Rosenblatt Securities’ price target indicates a potential upside of 23.88% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $525.00 price target on shares of Broadcom in a report on Thursday. Evercore reiterated an “outperform” rating and issued a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. Bank of America cut their target price on Broadcom from $500.00 to $450.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Truist Financial upped their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $475.63.

Broadcom Stock Down 15.8%

NASDAQ AVGO opened at $403.61 on Thursday. Broadcom has a 52 week low of $241.11 and a 52 week high of $495.00. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80. The business’s fifty day simple moving average is $392.87 and its 200-day simple moving average is $361.19. The firm has a market cap of $1.91 trillion, a PE ratio of 79.23, a P/E/G ratio of 0.99 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same quarter in the prior year, the firm posted $1.58 earnings per share. Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, equities analysts anticipate that Broadcom will post 9.91 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $370.52, for a total value of $2,964,160.00. Following the sale, the insider owned 57,932 shares in the company, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 1,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $358.31, for a total value of $358,310.00. Following the transaction, the director owned 32,352 shares of the company’s stock, valued at $11,592,045.12. This trade represents a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 324,282 shares of company stock valued at $106,425,249. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. ROSS JOHNSON & Associates LLC grew its stake in shares of Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 66 shares in the last quarter. Networth Advisors LLC boosted its holdings in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 71 shares during the period. SWAN Capital LLC grew its stake in Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares in the last quarter. Miller Global Investments LLC acquired a new position in Broadcom during the 4th quarter worth $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in Broadcom during the 4th quarter worth about $33,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Cantor Fitzgerald reaffirmed its overweight rating on Broadcom and set a $525 price target, implying upside from current levels. Benzinga
• Positive Sentiment: Benchmark raised its price target to $545 from $485 and kept a buy rating, citing strong earnings momentum. Benzinga
• Positive Sentiment: Broadcom reported record AI semiconductor revenue of $10.8 billion, up sharply year over year, reinforcing its role as a key AI infrastructure supplier. PR Newswire
• Neutral Sentiment: Broadcom announced a quarterly dividend of $0.65 per share, which supports the stock’s income appeal but is not a major near-term catalyst. PR Newswire
• Negative Sentiment: Investors sold the stock after Broadcom’s revenue came in below the market’s elevated expectations, pressuring sentiment across semiconductors. Reuters
• Negative Sentiment: Chipmaker shares, including Broadcom, fell in premarket trading as the market reassessed the durability of the AI trade after earnings. CNBC

Broadcom Company Profile

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.