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

Broadcom (NASDAQ:AVGO) had its price target lifted by research analysts at Barclays from $205.00 to $260.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor manufacturer’s stock. Barclays‘s price objective indicates a potential upside of 9.50% from the stock’s previous close.

A number of other research analysts have also recently issued reports on AVGO. Evercore ISI raised their price target on shares of Broadcom from $201.00 to $250.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Truist Financial increased their price target on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Bank of America upped their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a report on Friday, December 13th. Jefferies Financial Group boosted their target price on shares of Broadcom from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Finally, Hsbc Global Res raised Broadcom to a “hold” rating in a research report on Tuesday, December 3rd. Three analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $225.83.

Broadcom Stock Performance

AVGO stock opened at $237.44 on Friday. The firm has a 50-day simple moving average of $202.01 and a two-hundred day simple moving average of $178.14. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. Broadcom has a one year low of $112.19 and a one year high of $251.88. The firm has a market cap of $1.11 trillion, a price-to-earnings ratio of 193.67, a PEG ratio of 2.35 and a beta of 1.03.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. The business had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The business’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 earnings per share. On average, equities analysts forecast that Broadcom will post 5.38 EPS for the current fiscal year.

Insider Activity at Broadcom

In related news, Director Diane M. Bryant sold 15,000 shares of Broadcom stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $226.68, for a total value of $3,400,200.00. Following the completion of the transaction, the director now owns 6,460 shares in the company, valued at approximately $1,464,352.80. The trade was a 69.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the completion of the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 191,278 shares of company stock worth $44,964,800 in the last three months. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Broadcom

Hedge funds have recently bought and sold shares of the stock. NCP Inc. increased its stake in Broadcom by 615.4% in the second quarter. NCP Inc. now owns 465 shares of the semiconductor manufacturer’s stock valued at $747,000 after purchasing an additional 400 shares during the last quarter. ProVise Management Group LLC purchased a new position in shares of Broadcom in the 2nd quarter valued at $318,000. Brighton Jones LLC lifted its position in Broadcom by 5.7% in the second quarter. Brighton Jones LLC now owns 2,480 shares of the semiconductor manufacturer’s stock valued at $3,981,000 after acquiring an additional 133 shares during the last quarter. Ieq Capital LLC boosted its stake in Broadcom by 10.1% in the second quarter. Ieq Capital LLC now owns 33,422 shares of the semiconductor manufacturer’s stock valued at $53,659,000 after acquiring an additional 3,067 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its position in shares of Broadcom by 4.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 24,465 shares of the semiconductor manufacturer’s stock worth $39,280,000 after purchasing an additional 1,036 shares in 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.