Cantor Fitzgerald Reiterates Overweight Rating for Broadcom (NASDAQ:AVGO)

Broadcom (NASDAQ:AVGO)‘s stock had its “overweight” rating reiterated by analysts at Cantor Fitzgerald in a research report issued on Friday,Benzinga reports. They presently have a $300.00 price target on the semiconductor manufacturer’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 53.88% from the company’s current price. Cantor Fitzgerald also issued estimates for Broadcom’s FY2025 earnings at $5.65 EPS.

Several other analysts have also weighed in on AVGO. Hsbc Global Res raised Broadcom to a “hold” rating in a research note on Tuesday, December 3rd. Citigroup raised their price target on shares of Broadcom from $175.00 to $205.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Benchmark reaffirmed a “buy” rating and set a $255.00 price target on shares of Broadcom in a report on Friday. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price objective on shares of Broadcom in a research note on Friday. Finally, KeyCorp boosted their target price on shares of Broadcom from $260.00 to $275.00 and gave the stock an “overweight” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Broadcom has a consensus rating of “Moderate Buy” and an average target price of $231.48.

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $194.96 on Friday. The firm has a 50 day moving average of $222.28 and a 200-day moving average of $192.93. Broadcom has a 12 month low of $119.76 and a 12 month high of $251.88. The company has a current ratio of 1.17, a quick ratio of 1.07 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $913.85 billion, a PE ratio of 159.02, a PEG ratio of 2.29 and a beta of 1.01.

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

Insiders Place Their Bets

In related news, insider Mark David Brazeal sold 20,168 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $238.79, for a total transaction of $4,815,916.72. Following the transaction, the insider now owns 321,660 shares in the company, valued at $76,809,191.40. The trade was a 5.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charlie B. Kawwas sold 40,000 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $231.98, for a total transaction of $9,279,200.00. Following the completion of the sale, the insider now owns 696,730 shares of the company’s stock, valued at $161,627,425.40. The trade was a 5.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 191,278 shares of company stock worth $44,964,800. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Broadcom

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. grew its stake in Broadcom by 900.0% in the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after acquiring an additional 135 shares during the period. Canton Hathaway LLC bought a new position in shares of Broadcom in the 4th quarter worth $26,000. Rialto Wealth Management LLC bought a new position in shares of Broadcom in the 4th quarter worth $26,000. Sunbeam Capital Management LLC acquired a new stake in Broadcom in the 4th quarter valued at $28,000. Finally, Vermillion Wealth Management Inc. bought a new stake in Broadcom during the 4th quarter valued at $30,000. 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.