Broadcom (NASDAQ:AVGO) Stock Price Expected to Rise, Piper Sandler Analyst Says
Piper Sandler has raised its target price for Broadcom (NASDAQ:AVGO) from $315 to $375, maintaining an "overweight" rating. This suggests a potential upside of 22.51% from the current price. Other analysts have also issued positive ratings, with an average target price of $323.96. Broadcom's stock opened at $306.10, with a 12-month high of $317.35 and a market cap of $1.44 trillion. The company reported strong quarterly earnings, exceeding estimates with a revenue of $15.95 billion and an EPS of $1.69.
Broadcom (NASDAQ:AVGO - Get Free Report) had its price objective boosted by equities researchers at Piper Sandler from $315.00 to $375.00 in a report released on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the semiconductor manufacturer's stock. Piper Sandler's price target indicates a potential upside of 22.51% from the company's current price.
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Several other equities research analysts also recently issued reports on AVGO. Redburn Atlantic assumed coverage on shares of Broadcom in a research note on Wednesday, May 28th. They set a "buy" rating and a $301.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of Broadcom from $230.00 to $255.00 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. Truist Financial set a $295.00 target price on shares of Broadcom and gave the stock a "buy" rating in a research report on Friday, June 6th. KeyCorp boosted their target price on shares of Broadcom from $315.00 to $330.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Broadcom from $250.00 to $325.00 and gave the stock an "overweight" rating in a research report on Friday, June 6th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $323.96.
Get Our Latest Research Report on AVGO
Broadcom Stock Performance
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Broadcom stock opened at $306.10 on Friday. Broadcom has a 12-month low of $134.90 and a 12-month high of $317.35. The company has a market capitalization of $1.44 trillion, a price-to-earnings ratio of 114.64, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.08 and a quick ratio of 0.98. The firm's fifty day moving average price is $290.78 and its 200 day moving average price is $236.51.
Broadcom (NASDAQ:AVGO - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 22.64% and a return on equity of 35.49%. The firm had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.82 billion. During the same quarter in the previous year, the firm posted $1.24 EPS. The firm's quarterly revenue was up 22.0% on a year-over-year basis. Broadcom has set its Q4 2025 guidance at EPS. On average, research analysts forecast that Broadcom will post 5.38 EPS for the current fiscal year.
Insider Activity
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In other Broadcom news, insider Charlie B. Kawwas sold 10,000 shares of the business's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $252.88, for a total transaction of $2,528,800.00. Following the completion of the transaction, the insider directly owned 789,784 shares of the company's stock, valued at $199,720,577.92. The trade was a 1.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 50,000 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $253.28, for a total transaction of $12,664,000.00. Following the transaction, the insider directly owned 415,956 shares of the company's stock, valued at $105,353,335.68. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock worth $217,286,457 over the last three months. Insiders own 2.00% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in Broadcom during the 2nd quarter valued at $18,579,549,000. Nuveen LLC bought a new position in Broadcom during the 1st quarter valued at $6,649,117,000. Price T Rowe Associates Inc. MD boosted its stake in Broadcom by 37.8% during the 1st 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 purchasing an additional 17,985,046 shares in the last quarter. GAMMA Investing LLC boosted its stake in Broadcom by 18,179.3% during the 1st quarter. GAMMA Investing LLC now owns 17,276,164 shares of the semiconductor manufacturer's stock valued at $2,892,548,000 after purchasing an additional 17,181,652 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer's stock worth $133,261,046,000 after purchasing an additional 6,222,802 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.
About Broadcom
(Get Free Report)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.
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