Broadcom (NASDAQ:AVGO) Raised to Moderate Buy at Raymond James Financial

Broadcom (NASDAQ:AVGO) was upgraded by Raymond James Financial to a “moderate buy” rating in a report released on Thursday,Zacks.com reports.

Several other research firms have also recently issued reports on AVGO. Evercore ISI upped their price target on shares of Broadcom from $342.00 to $403.00 and gave the company an “outperform” rating in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft set a $400.00 target price on shares of Broadcom and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Citigroup reaffirmed a “buy” rating and set a $415.00 price target (up previously from $350.00) on shares of Broadcom in a research report on Tuesday, October 14th. TD Cowen boosted their price objective on Broadcom from $355.00 to $370.00 and gave the company a “buy” rating in a report on Friday, September 5th. Finally, KeyCorp set a $460.00 price objective on Broadcom in a research note on Monday, October 13th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $374.21.

Broadcom Stock Down 1.9%

Shares of NASDAQ:AVGO traded down $6.62 during trading on Thursday, hitting $340.20. The company’s stock had a trading volume of 30,233,777 shares, compared to its average volume of 20,083,874. The company has a market capitalization of $1.61 trillion, a PE ratio of 86.79, a PEG ratio of 1.19 and a beta of 1.19. Broadcom has a fifty-two week low of $138.10 and a fifty-two week high of $386.48. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50. The stock’s 50-day moving average price is $348.15 and its two-hundred day moving average price is $299.89.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $15.82 billion. During the same quarter last year, the firm earned $1.24 EPS. Broadcom’s quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. As a group, sell-side analysts expect that Broadcom will post 5.38 EPS for the current year.

Insiders Place Their Bets

In other Broadcom news, insider Mark David Brazeal sold 16,558 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total value of $5,755,726.38. Following the sale, the insider owned 329,302 shares in the company, valued at approximately $114,468,668.22. This trade represents a 4.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Henry Samueli sold 368,797 shares of Broadcom stock in a transaction that occurred on Wednesday, September 24th. The shares were 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 in the company, valued at approximately $12,746,821,463.94. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 3,550 shares of company stock worth $1,227,869 and have sold 665,271 shares worth $225,483,192. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Broadcom during the 2nd quarter worth about $18,579,549,000. Nuveen LLC bought a new position in shares of Broadcom in the first quarter valued at approximately $6,649,117,000. Price T Rowe Associates Inc. MD increased its stake in shares of Broadcom by 37.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer’s stock valued at $10,968,270,000 after acquiring an additional 17,985,046 shares during the period. Vanguard Group Inc. increased its stake in shares of Broadcom by 1.3% during the second quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock valued at $133,261,046,000 after acquiring an additional 6,222,802 shares during the period. Finally, Edgewood Management LLC bought a new stake in Broadcom during the second quarter worth approximately $1,571,438,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Company Profile

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.