Broadcom (NASDAQ:AVGO) Price Target Increased to $205.00 by Analysts at Truist Financial

Broadcom (NASDAQ:AVGO) had its price objective increased by equities researchers at Truist Financial from $204.00 to $205.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. Truist Financial’s price objective would indicate a potential upside of 15.90% from the company’s current price.

Other analysts also recently issued reports about the company. Morgan Stanley upped their price objective on Broadcom from $176.00 to $180.00 and gave the company an “overweight” rating in a research report on Friday, September 6th. Rosenblatt Securities decreased their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Oppenheimer lowered their price target on shares of Broadcom from $2,000.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, July 16th. Mizuho raised their target price on shares of Broadcom from $162.50 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, June 13th. Finally, Jefferies Financial Group lifted their target price on shares of Broadcom from $155.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $189.25.

Broadcom Stock Up 1.0 %

AVGO stock traded up $1.80 during mid-day trading on Tuesday, reaching $176.88. The company had a trading volume of 1,518,976 shares, compared to its average volume of 30,965,334. The firm has a fifty day simple moving average of $159.64 and a 200 day simple moving average of $149.81. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The company has a market capitalization of $823.36 billion, a price-to-earnings ratio of 7.61, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17. Broadcom has a fifty-two week low of $81.83 and a fifty-two week high of $185.16.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. Broadcom’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. Analysts forecast that Broadcom will post 3.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 150,000 shares of the stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now directly owns 1,181,910 shares of the company’s stock, valued at approximately $204,399,515.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Hock E. Tan sold 150,000 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $172.94, for a total transaction of $25,941,000.00. Following the sale, the chief executive officer now owns 1,181,910 shares of the company’s stock, valued at $204,399,515.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $172.32, for a total transaction of $3,446,400.00. Following the sale, the chief executive officer now owns 1,151,910 shares in the company, valued at approximately $198,497,131.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,452 shares of company stock valued at $56,396,638 in the last quarter. Company insiders own 2.00% of the company’s stock.

Institutional Trading of Broadcom

Hedge funds have recently bought and sold shares of the business. AXA S.A. grew its stake in Broadcom by 2.7% in the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after purchasing an additional 7,608 shares during the period. MRA Advisory Group grew its position in Broadcom by 954.1% during the third quarter. MRA Advisory Group now owns 9,455 shares of the semiconductor manufacturer’s stock valued at $1,631,000 after buying an additional 8,558 shares during the period. Ensign Peak Advisors Inc increased its holdings in Broadcom by 19.1% during the second quarter. Ensign Peak Advisors Inc now owns 524,537 shares of the semiconductor manufacturer’s stock worth $842,160,000 after buying an additional 84,196 shares during the last quarter. Shellback Capital LP bought a new stake in Broadcom in the second quarter worth about $60,368,000. Finally, Red Spruce Capital LLC boosted its stake in Broadcom by 854.9% in the third quarter. Red Spruce Capital LLC now owns 32,915 shares of the semiconductor manufacturer’s stock valued at $5,678,000 after acquiring an additional 29,468 shares during the last quarter. 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.