Broadcom (NASDAQ:AVGO) Upgraded at DA Davidson

DA Davidson upgraded shares of Broadcom (NASDAQ:AVGO) from a neutral rating to a buy rating in a research report released on Tuesday, MarketBeat.com reports. The brokerage currently has $400.00 price objective on the semiconductor manufacturer’s stock, up from their previous price objective of $350.00.

A number of other research firms also recently commented on AVGO. Morgan Stanley reaffirmed an “overweight” rating and set a $505.00 price objective (up from $502.00) on shares of Broadcom in a report on Thursday, September 3rd. BNP Paribas Exane upped their target price on shares of Broadcom from $675.00 to $715.00 and gave the company an “outperform” rating in a research note on Friday, September 4th. KeyCorp reissued an “overweight” rating and issued a $575.00 price target on shares of Broadcom in a research report on Thursday, September 3rd. Cantor Fitzgerald raised their price target on shares of Broadcom from $525.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, September 3rd. Finally, Jefferies Financial Group assumed coverage on Broadcom in a report on Thursday, September 3rd. They set a “buy” rating and a $550.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $530.52.

Broadcom Price Performance

Shares of AVGO stock opened at $345.00 on Tuesday. The stock has a 50 day moving average of $353.57 and a two-hundred day moving average of $367.09. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $1.65 trillion, a P/E ratio of 41.05 and a beta of 1.46. Broadcom has a 12 month low of $289.96 and a 12 month high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping the consensus estimate of $3.22 by $0.10. The firm had revenue of $29.59 billion during the quarter, compared to analysts’ expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. Broadcom’s quarterly revenue was up 85.5% compared to the same quarter last year. During the same period last year, the business earned $1.69 earnings per share. As a group, equities analysts expect that Broadcom will post 10.37 EPS for the current year.

Broadcom Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is currently 33.21%.

Institutional Trading of Broadcom

Several large investors have recently added to or reduced their stakes in AVGO. Tucker Asset Management LLC raised its stake in Broadcom by 10.8% during the third quarter. Tucker Asset Management LLC now owns 1,168 shares of the semiconductor manufacturer’s stock worth $410,000 after buying an additional 114 shares during the last quarter. Bauman Advisory Group LLC boosted its position in shares of Broadcom by 6.8% during the third quarter. Bauman Advisory Group LLC now owns 1,018 shares of the semiconductor manufacturer’s stock valued at $358,000 after buying an additional 65 shares during the last quarter. VCI Wealth Management LLC boosted its stake in shares of Broadcom by 8.4% in the 3rd quarter. VCI Wealth Management LLC now owns 22,919 shares of the semiconductor manufacturer’s stock worth $8,049,000 after buying an additional 1,782 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management raised its position in Broadcom by 2.3% in the third quarter. Gerber Kawasaki Wealth & Investment Management now owns 58,660 shares of the semiconductor manufacturer’s stock worth $20,601,000 after acquiring an additional 1,332 shares during the period. Finally, Elevate Wealth Advisory Inc. grew its stake in shares of Broadcom by 22.1% during the 3rd quarter. Elevate Wealth Advisory Inc. now owns 778 shares of the semiconductor manufacturer’s stock worth $273,000 after acquiring an additional 141 shares during the period. 76.43% of the stock is owned by institutional investors.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts remain constructive: DA Davidson upgraded Broadcom to “Buy,” while Rosenblatt reaffirmed its Buy rating. The upgrades cite the company’s AI semiconductor momentum and long-term growth outlook. DA Davidson Upgrades Broadcom to Buy
• Positive Sentiment: Broadcom’s custom-chip opportunity continues to expand. One bullish outlook points to projected AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028, supported by rising data-center and accelerator demand. The AI Boom Isn’t Over: 3 Stocks You Need to Watch
• Positive Sentiment: Meta’s planned AI financing and potential investment by major chip suppliers could support additional orders for Broadcom as Meta expands its data-center capacity. Why Meta’s $100 Billion Financing Plan Is a Boon for Broadcom
• Neutral Sentiment: The stock’s pullback from its record high has prompted some investors to view Broadcom as a more attractive entry point, although valuation remains dependent on continued exceptional AI growth. Broadcom: This Is Probably a Good Entry Point
• Negative Sentiment: The $63 billion Anthropic financing arrangement is raising concern about asset and credit risk. A special-purpose vehicle would purchase and lease Broadcom hardware, while Broadcom’s potential backstop exposure could reach roughly $43 billion if financing or asset values deteriorate. Broadcom’s Anthropic Deal and Potential Backstop
• Negative Sentiment: Broader concerns about AI spending are also weighing on sentiment. Rising interest rates, heavy borrowing for data centers and doubts about returns on massive capital expenditures could compress richly valued semiconductor stocks. Why Rising Rates Could Break the Bull Market

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software products. Its semiconductor solutions support data center, networking, broadband, wireless communications, storage, industrial and other electronic applications.

The company’s semiconductor portfolio includes networking and switching components, custom accelerators, connectivity and wireless devices, broadband equipment, optical products, storage controllers and related infrastructure technologies.