Broadcom Inc. (NASDAQ:AVGO) Receives $493.24 Average Price Target from Analysts

Broadcom Inc. (NASDAQ:AVGO) has been assigned an average rating of “Moderate Buy” from the thirty-two ratings firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and twenty-eight have issued a buy recommendation on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $493.2414.

Several equities research analysts recently weighed in on AVGO shares. JPMorgan Chase & Co. upped their price objective on shares of Broadcom from $500.00 to $580.00 and gave the stock an “overweight” rating in a report on Thursday, June 4th. Cantor Fitzgerald reissued an “overweight” rating and set a $525.00 target price on shares of Broadcom in a research note on Thursday, June 4th. Erste Group Bank restated a “hold” rating on shares of Broadcom in a research report on Tuesday, July 7th. Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 21st. Finally, Citigroup reiterated a “buy” rating on shares of Broadcom in a report on Thursday, June 4th.

Insider Transactions at Broadcom

In other news, Director Gayla J. Delly sold 1,890 shares of the business’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total value of $728,368.20. Following the sale, the director owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Justine Page sold 1,602 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director owned 17,426 shares of the company’s stock, valued at approximately $6,514,884.36. This trade represents a 8.42% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 61,644 shares of company stock valued at $24,016,214. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AVGO. Norges Bank acquired a new stake in Broadcom in the 4th quarter valued at about $24,252,196,000. Legal & General Group Plc acquired a new position in shares of Broadcom in the 2nd quarter worth approximately $11,998,148,000. Bank of New York Mellon Corp acquired a new position in shares of Broadcom in the 2nd quarter worth approximately $10,528,191,000. Jupiter Topco LLC acquired a new position in shares of Broadcom in the 2nd quarter worth approximately $7,396,271,000. Finally, Deutsche Bank AG bought a new stake in shares of Broadcom in the 2nd quarter worth approximately $5,661,216,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Stock Up 0.0%

Shares of Broadcom stock opened at $393.05 on Monday. 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 has a 1-year low of $281.87 and a 1-year high of $495.00. The business’s fifty day moving average price is $389.79 and its two-hundred day moving average price is $373.64. The company has a market capitalization of $1.87 trillion, a P/E ratio of 65.51, a PEG ratio of 0.75 and a beta of 1.45.

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

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s dividend payout ratio is 43.33%.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

About Broadcom

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.