Broadcom (NASDAQ:AVGO) Given New $460.00 Price Target at Bank of America

Broadcom (NASDAQ:AVGO) had its price objective lifted by equities research analysts at Bank of America from $400.00 to $460.00 in a research report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Bank of America‘s price target would indicate a potential upside of 17.48% from the company’s current price.

A number of other research firms have also commented on AVGO. Wall Street Zen lowered Broadcom from a “buy” rating to a “hold” rating in a research report on Sunday, November 23rd. Barclays set a $450.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a report on Tuesday, October 14th. Raymond James Financial set a $420.00 target price on Broadcom and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Benchmark upped their target price on shares of Broadcom from $315.00 to $385.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Finally, Oppenheimer reissued an “outperform” rating and set a $360.00 target price (up from $325.00) on shares of Broadcom in a research note on Friday, September 5th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given 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 $383.00.

Broadcom Stock Performance

Shares of NASDAQ AVGO traded down $11.40 during trading on Monday, reaching $391.56. 8,674,412 shares of the stock traded hands, compared to its average volume of 25,352,064. The company has a 50-day moving average of $352.16 and a 200-day moving average of $307.31. The stock has a market capitalization of $1.85 trillion, a P/E ratio of 99.85, a price-to-earnings-growth ratio of 1.37 and a beta of 1.19. Broadcom has a 52-week low of $138.10 and a 52-week high of $403.00. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37.

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

Insider Activity at Broadcom

In other news, CEO Hock E. Tan sold 148,154 shares of the business’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the transaction, the chief executive officer directly owned 825,998 shares in the company, valued at $278,088,746.66. The trade was a 15.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the transaction, the chief financial officer owned 313,330 shares in the company, valued at $108,932,307.80. The trade was a 2.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders acquired 3,550 shares of company stock valued at $1,227,869 and sold 665,271 shares valued at $225,483,192. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently modified their holdings of the company. Sawyer & Company Inc grew its holdings in Broadcom by 62.1% during the 2nd quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 36 shares during the last quarter. JCIC Asset Management Inc. acquired a new stake in Broadcom during the 3rd quarter valued at $31,000. Longfellow Investment Management Co. LLC bought a new stake in shares of Broadcom in the second quarter worth $27,000. Teachers Insurance & Annuity Association of America bought a new position in Broadcom during the 2nd quarter worth approximately $28,000. Finally, Legend Financial Advisors Inc. acquired a new stake in Broadcom during the second quarter worth about $28,000. 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.