Broadcom (NASDAQ:AVGO) Given Hold Rating at Erste Group Bank

Broadcom (NASDAQ:AVGO)‘s stock had its “hold” rating reaffirmed by analysts at Erste Group Bank in a note issued to investors on Tuesday, MarketBeat Ratings reports.

Other research analysts have also issued reports about the stock. Morgan Stanley set a $502.00 target price on shares of Broadcom and gave the company an “overweight” rating in a report on Thursday, June 4th. Mizuho boosted their price objective on shares of Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research report on Thursday, June 4th. UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a research note on Thursday, June 4th. Evercore reaffirmed an “outperform” rating and issued a $582.00 target price on shares of Broadcom in a research note on Tuesday, May 19th. Finally, Dbs Bank upgraded Broadcom to a “moderate buy” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $493.24.

Broadcom Price Performance

Broadcom stock traded down $6.90 during trading hours on Tuesday, hitting $367.00. The stock had a trading volume of 2,902,316 shares, compared to its average volume of 26,286,367. Broadcom has a 1-year low of $269.58 and a 1-year high of $495.00. The stock has a market capitalization of $1.75 trillion, a price-to-earnings ratio of 61.21, a PEG ratio of 0.63 and a beta of 1.45. The stock’s fifty day moving average is $407.92 and its two-hundred day moving average is $362.49. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the business earned $1.58 earnings per share. The company’s quarterly revenue was up 47.9% on a year-over-year basis. As a group, analysts predict that Broadcom will post 10.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Justine Page sold 2,018 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $353.00, for a total transaction of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares of the company’s stock, valued at approximately $6,411,892. This represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider S. Ram Velaga sold 17,260 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $352.12, for a total transaction of $6,077,591.20. Following the completion of the transaction, the insider owned 65,932 shares in the company, valued at $23,215,975.84. The trade was a 20.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 60,987 shares of company stock valued at $21,899,980. 1.90% of the stock is owned by corporate insiders.

Institutional Trading of Broadcom

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Broadcom by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer’s stock valued at $167,064,997,000 after purchasing an additional 3,919,715 shares during the last quarter. State Street Corp boosted its stake in Broadcom by 2.7% during the fourth quarter. State Street Corp now owns 190,084,351 shares of the semiconductor manufacturer’s stock worth $65,788,194,000 after buying an additional 5,040,801 shares in the last quarter. Geode Capital Management LLC increased its holdings in Broadcom by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 111,277,280 shares of the semiconductor manufacturer’s stock valued at $38,396,634,000 after buying an additional 1,548,699 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Broadcom by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,546,083 shares of the semiconductor manufacturer’s stock valued at $29,607,500,000 after buying an additional 2,491,644 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Broadcom during the 4th quarter worth about $24,252,196,000. Institutional investors own 76.43% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s expanded partnership with Apple through 2031 should support long-term chip demand and strengthen confidence in its custom silicon growth story. Reuters: Broadcom, Apple extend chip partnership through 2031
• Positive Sentiment: Broadcom is being highlighted as a key AI infrastructure and edge-AI player, which supports the stock’s premium valuation. Seeking Alpha: Broadcom’s AI Infrastructure Model Justifies Its Premium Valuation
• Positive Sentiment: Analyst and investor commentary continues to point to Broadcom’s custom AI silicon growth as a reason estimates may keep moving higher. Yahoo Finance: Why Broadcom Inc.’s Custom AI Silicon Growth Still Supports Its Estimate Story
• Neutral Sentiment: Broader semiconductor momentum has helped AVGO alongside other chip names, adding a sector tailwind to the stock. Yahoo Finance: Allegro MicroSystems and Penguin Solutions Shares Skyrocket
• Negative Sentiment: Some recent coverage warns that Broadcom’s largest AI customer may be shifting business to MediaTek, which could raise questions about customer concentration in its AI chip franchise. MSN: Broadcom’s largest AI customer is fleeing to MediaTek
• Negative Sentiment: One analyst note also said AVGO had been under pressure recently after a weaker near-term outlook and limited improvement to the longer-term AI revenue picture. Zacks: Broadcom Drops 9% in a Month

Broadcom Company Profile

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.