Research Analysts’ Recent Ratings Updates for Broadcom (AVGO)

Several brokerages have updated their recommendations and price targets on shares of Broadcom (NASDAQ: AVGO) in the last few weeks:

• 12/20/2024 – Broadcom had its price target raised by analysts at Morgan Stanley from $233.00 to $265.00. They now have an “overweight” rating on the stock.
• 12/16/2024 – Broadcom had its price target raised by analysts at Barclays PLC from $200.00 to $205.00. They now have an “overweight” rating on the stock.
• 12/13/2024 – Broadcom had its price target raised by analysts at Susquehanna from $200.00 to $225.00. They now have a “positive” rating on the stock.
• 12/13/2024 – Broadcom had its price target raised by analysts at JPMorgan Chase & Co. from $210.00 to $250.00. They now have an “overweight” rating on the stock.
• 12/13/2024 – Broadcom had its price target raised by analysts at Morgan Stanley from $180.00 to $233.00. They now have an “overweight” rating on the stock.
• 12/13/2024 – Broadcom had its price target raised by analysts at Piper Sandler from $200.00 to $250.00. They now have an “overweight” rating on the stock.
• 12/13/2024 – Broadcom had its price target raised by analysts at Evercore ISI from $201.00 to $250.00. They now have an “outperform” rating on the stock.
• 12/13/2024 – Broadcom had its price target raised by analysts at Robert W. Baird from $195.00 to $210.00. They now have an “outperform” rating on the stock.
• 12/13/2024 – Broadcom had its price target raised by analysts at Jefferies Financial Group Inc. from $205.00 to $225.00. They now have a “buy” rating on the stock.
• 12/13/2024 – Broadcom had its “buy” rating reaffirmed by analysts at Benchmark Co.. They now have a $255.00 price target on the stock, up previously from $210.00.
• 12/13/2024 – Broadcom had its price target raised by analysts at Truist Financial Co. from $205.00 to $245.00. They now have a “buy” rating on the stock.
• 12/13/2024 – Broadcom had its price target raised by analysts at Bank of America Co. from $215.00 to $250.00. They now have a “buy” rating on the stock.
• 12/13/2024 – Broadcom had its price target raised by analysts at TD Cowen from $210.00 to $240.00. They now have a “buy” rating on the stock.
• 12/13/2024 – Broadcom had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $190.00 to $240.00. They now have a “buy” rating on the stock.
• 12/11/2024 – Broadcom had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $240.00 price target on the stock.
• 12/10/2024 – Broadcom had its price target raised by analysts at Citigroup Inc. from $175.00 to $205.00. They now have a “buy” rating on the stock.
• 12/3/2024 – Broadcom was upgraded by analysts at Hsbc Global Res to a “hold” rating.
• 11/4/2024 – Broadcom had its price target raised by analysts at UBS Group AG from $170.00 to $200.00. They now have a “buy” rating on the stock.

Broadcom Trading Down 1.6 %

Shares of AVGO stock opened at $231.84 on Thursday. The firm has a market capitalization of $1.09 trillion, a PE ratio of 201.42, a price-to-earnings-growth ratio of 2.15 and a beta of 1.13. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. Broadcom Inc. has a 1 year low of $104.15 and a 1 year high of $251.88. The stock has a fifty day moving average of $188.87 and a two-hundred day moving average of $173.02.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The firm had revenue of $14.05 billion during the quarter, compared to analyst estimates of $14.07 billion. During the same quarter in the prior year, the firm posted $0.98 EPS. Broadcom’s revenue was up 51.2% compared to the same quarter last year. As a group, research analysts expect that Broadcom Inc. will post 3.79 EPS for the current year.

Broadcom Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 1.02%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is 191.87%.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the transaction, the insider now owns 399,460 shares of the company’s stock, valued at $70,744,366. The trade was a 4.83 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Hock E. Tan sold 45,000 shares of the stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 154,408 shares of company stock valued at $33,412,228. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Broadcom

A number of hedge funds have recently modified their holdings of AVGO. Kiely Wealth Advisory Group Inc. acquired a new stake in Broadcom during the 2nd quarter worth about $128,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Broadcom in the 2nd quarter valued at approximately $136,000. WPWealth LLP acquired a new position in Broadcom in the 2nd quarter worth approximately $204,000. Harrington Investments INC purchased a new position in Broadcom during the 2nd quarter worth approximately $207,000. Finally, AIMZ Investment Advisors LLC acquired a new stake in Broadcom during the 2nd quarter valued at $207,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

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.