Broadcom’s (AVGO) “Buy” Rating Reiterated at Rosenblatt Securities

Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They currently have a $500.00 price objective on the semiconductor manufacturer’s stock. Rosenblatt Securities’ price target points to a potential upside of 23.88% from the company’s current price.

AVGO has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research report on Thursday. Weiss Ratings raised Broadcom from a “hold (c+)” rating to a “buy (b-)” rating in a report on Wednesday, May 27th. TD Cowen reiterated a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research note on Thursday. Truist Financial raised their price objective on shares of Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Evercore restated an “outperform” rating and set a $582.00 price objective on shares of Broadcom in a research report on Tuesday, May 19th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $475.63.

Broadcom Trading Down 15.8%

Shares of 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’s 50 day moving average is $392.87 and its two-hundred day moving average is $361.19. The company 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. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.04. The business had revenue of $22.19 billion during the quarter, compared to analysts’ expectations of $22.13 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.58 EPS. Equities analysts predict that Broadcom will post 9.91 earnings per share for the current fiscal year.

Insider Transactions at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,000 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $358.31, for a total transaction of $358,310.00. Following the sale, the director directly owned 32,352 shares in the company, valued at approximately $11,592,045.12. The trade was a 3.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 50,488 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares in the company, valued at approximately $89,450,145.60. This represents a 15.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 324,282 shares of company stock valued at $106,425,249 over the last 90 days. Insiders own 1.90% of the company’s stock.

Institutional Trading of Broadcom

Several large investors have recently bought and sold shares of the company. Fullerton Advisors LLC raised its stake in shares of Broadcom by 1.3% in the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after buying an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co raised its position in Broadcom by 0.5% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after acquiring an additional 25 shares in the last quarter. RFG Holdings Inc. boosted its position in shares of Broadcom by 0.3% during the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock valued at $2,631,000 after purchasing an additional 26 shares in the last quarter. Yukon Wealth Management Inc. increased its stake in Broadcom by 1.1% in the 1st quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after purchasing an additional 26 shares in the last quarter. Finally, Capital Planning LLC grew its holdings in shares of Broadcom by 0.7% during the first quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer’s stock valued at $1,252,000 after buying an additional 28 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

More Broadcom News

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

About Broadcom

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.