Broadcom Inc. (NASDAQ:AVGO) Receives Consensus Rating of “Moderate Buy” from Analysts
by Doug Wharley · The Cerbat GemShares of Broadcom Inc. (NASDAQ:AVGO – Get Free Report) have received an average rating of “Moderate Buy” from the thirty-two research firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation, twenty-seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $455.0690.
Several analysts recently issued reports on AVGO shares. Citigroup reissued a “buy” rating and issued a $500.00 price target (up from $475.00) on shares of Broadcom in a research report on Tuesday, May 12th. Rosenblatt Securities reissued a “buy” rating and issued a $500.00 price target on shares of Broadcom in a research report on Tuesday, April 7th. Morgan Stanley lifted their price target on shares of Broadcom from $470.00 to $485.00 and gave the company an “overweight” rating in a research report on Monday. Benchmark reissued a “buy” rating and issued a $485.00 price target on shares of Broadcom in a research report on Thursday, March 5th. Finally, Seaport Research Partners reissued a “neutral” rating on shares of Broadcom in a research report on Wednesday, April 8th.
Check Out Our Latest Stock Analysis on Broadcom
Broadcom Stock Performance
NASDAQ AVGO opened at $481.57 on Wednesday. The company has a fifty day simple moving average of $386.31 and a 200 day simple moving average of $359.32. Broadcom has a 12-month low of $241.11 and a 12-month high of $488.82. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. The company has a market cap of $2.28 trillion, a P/E ratio of 94.06, a PEG ratio of 0.95 and a beta of 1.41.
Broadcom (NASDAQ:AVGO – Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business had revenue of $19.31 billion during the quarter, compared to the consensus estimate of $19.10 billion. During the same quarter last year, the firm posted $1.60 EPS. Broadcom’s revenue was up 29.5% compared to the same quarter last year. Sell-side analysts predict that Broadcom will post 9.91 earnings per share for the current fiscal year.
Insider Activity
In other Broadcom news, insider S. Ram Velaga sold 38,841 shares of Broadcom stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $12,491,265.60. Following the transaction, the insider directly owned 96,147 shares of the company’s stock, valued at $30,920,875.20. The trade was a 28.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of Broadcom stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $321.61, for a total transaction of $12,580,096.76. Following the transaction, the insider directly owned 74,626 shares in the company, valued at $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 324,282 shares of company stock valued at $106,425,249 over the last quarter. 1.90% of the stock is owned by insiders.
Hedge Funds Weigh In On Broadcom
Hedge funds have recently bought and sold shares of the company. ROSS JOHNSON & Associates LLC raised its stake in shares of Broadcom by 1,320.0% during the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares during the period. SWAN Capital LLC raised its stake in shares of Broadcom by 261.9% during the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 55 shares during the period. Networth Advisors LLC raised its stake in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after purchasing an additional 71 shares during the period. Miller Global Investments LLC bought a new stake in shares of Broadcom during the 4th quarter worth $31,000. Finally, Nvest Wealth Strategies Inc. bought a new stake in shares of Broadcom during the 4th quarter worth $33,000. 76.43% of the stock is owned by hedge funds and other institutional investors.
Broadcom News Roundup
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Broadcom launched new Wi-Fi 8 and broadband system-on-chip products, expanding its networking portfolio and supporting longer-term growth in connected-home and edge networking demand. Broadcom (AVGO) Launches New Wi-Fi 8 and Broadband Chips to Strengthen Networking Portfolio
- Positive Sentiment: Investor enthusiasm for AI infrastructure spending, including Alphabet’s $80 billion capital raise and related data-center buildout, is lifting Broadcom shares because it is seen as a key supplier of custom chips and networking silicon. Broadcom advances as Alphabet’s $80 billion AI capital raise highlights infrastructure demand (AVGO)
- Positive Sentiment: Broadcom is heading into earnings with expectations for strong AI-chip revenue and software growth, with analysts and traders watching for upbeat guidance that could justify its recent run to record highs. Broadcom heads into earnings with AI backlog, guidance in focus
- Positive Sentiment: Several firms turned constructive ahead of results, including price-target hikes and bullish commentary, which can support the stock by reinforcing confidence in Broadcom’s near-term earnings setup. Susquehanna and UBS Raise Broadcom (AVGO) Price Target Ahead of Results
- Neutral Sentiment: Broadcom enters earnings with a high valuation and lofty expectations, so even strong results may need to be “flawless” to keep the rally going. AVGO Set to Report Q2 Earnings: Buy, Sell or Hold Broadcom Stock?
- Neutral Sentiment: Trading reports suggest the stock’s recent move is also being driven by momentum and options activity ahead of earnings, making the setup sensitive to any surprise in guidance. Broadcom Reports Earnings Wednesday. Here’s How Much Traders Expect the Stock to Move
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.
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