Broadcom (NASDAQ:AVGO) Price Target Raised to $267.00 at Truist Financial

Broadcom (NASDAQ:AVGO) had its price objective raised by stock analysts at Truist Financial from $260.00 to $267.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor manufacturer’s stock. Truist Financial’s price objective points to a potential upside of 43.53% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. JPMorgan Chase & Co. increased their price objective on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Bank of America increased their price target on shares of Broadcom from $215.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. TD Cowen boosted their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, December 13th. Barclays raised their target price on shares of Broadcom from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Finally, Morgan Stanley dropped their price target on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $230.92.

Broadcom Trading Up 3.7 %

NASDAQ:AVGO traded up $6.58 during trading hours on Friday, hitting $186.03. The company had a trading volume of 30,854,894 shares, compared to its average volume of 29,117,307. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07. The stock has a 50-day moving average price of $223.22 and a 200 day moving average price of $192.55. The company has a market capitalization of $871.97 billion, a PE ratio of 151.74, a price-to-earnings-growth ratio of 2.29 and a beta of 1.01. Broadcom has a 52 week low of $119.76 and a 52 week high of $251.88.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the previous year, the firm posted $0.98 EPS. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. On average, equities research analysts predict that Broadcom will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Diane M. Bryant sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $226.68, for a total value of $3,400,200.00. Following the transaction, the director now owns 6,460 shares of the company’s stock, valued at $1,464,352.80. This trade represents a 69.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AVGO. Canton Hathaway LLC bought a new position in shares of Broadcom in the fourth quarter worth about $26,000. Rialto Wealth Management LLC purchased a new position in Broadcom in the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $28,000. Vermillion Wealth Management Inc. purchased a new stake in Broadcom during the 4th quarter valued at approximately $30,000. Finally, Sellwood Investment Partners LLC purchased a new stake in Broadcom during the 4th quarter valued at approximately $32,000. Institutional investors 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.