Broadcom (NASDAQ:AVGO) Stock Price Expected to Rise, UBS Group Analyst Says

Broadcom (NASDAQ:AVGO) had its price objective increased by analysts at UBS Group from $170.00 to $200.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor manufacturer’s stock. UBS Group’s price target would suggest a potential upside of 15.01% from the company’s previous close.

AVGO has been the subject of several other research reports. Rosenblatt Securities reduced their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a research report on Friday, September 6th. Benchmark reissued a “buy” rating and set a $210.00 target price on shares of Broadcom in a research report 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 on the stock in a report on Tuesday, July 16th. Truist Financial upped their price objective on Broadcom from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, StockNews.com downgraded Broadcom from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Broadcom presently has a consensus rating of “Moderate Buy” and a consensus target price of $192.79.

Broadcom Stock Up 3.2 %

Broadcom stock opened at $173.90 on Monday. 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 stock has a market cap of $812.21 billion, a PE ratio of 151.09, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. Broadcom has a fifty-two week low of $87.12 and a fifty-two week high of $186.42. The firm’s 50-day simple moving average is $169.37 and its 200 day simple moving average is $156.58.

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

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 25,200 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $168.27, for a total value of $4,240,404.00. Following the completion of the sale, the insider now owns 753,280 shares in the company, valued at $126,754,425.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares in the company, valued at approximately $70,744,366. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 25,200 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $168.27, for a total value of $4,240,404.00. Following the sale, the insider now owns 753,280 shares of the company’s stock, valued at $126,754,425.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 311,080 shares of company stock worth $53,540,590. 2.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadcom

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. AXA S.A. boosted its position in Broadcom by 2.7% during the 2nd quarter. AXA S.A. now owns 291,078 shares of the semiconductor manufacturer’s stock valued at $467,334,000 after buying an additional 7,608 shares during the period. Catalyst Financial Partners LLC grew its stake in shares of Broadcom by 943.3% in the third quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock worth $3,473,000 after purchasing an additional 18,206 shares during the last quarter. Whittier Trust Co. raised its position in Broadcom by 947.2% during the 3rd quarter. Whittier Trust Co. now owns 689,858 shares of the semiconductor manufacturer’s stock valued at $119,000,000 after purchasing an additional 623,983 shares during the last quarter. Summit Place Financial Advisors LLC lifted its holdings in Broadcom by 912.6% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 9,802 shares of the semiconductor manufacturer’s stock worth $1,691,000 after buying an additional 8,834 shares during the period. Finally, Signaturefd LLC grew its position in shares of Broadcom by 913.0% in the 3rd quarter. Signaturefd LLC now owns 78,977 shares of the semiconductor manufacturer’s stock worth $13,624,000 after buying an additional 71,181 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

About Broadcom

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.