Mizuho Increases Broadcom (NASDAQ:AVGO) Price Target to $220.00

Broadcom (NASDAQ:AVGO) had its price target raised by stock analysts at Mizuho from $190.00 to $220.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm presently has an “outperform” rating on the semiconductor manufacturer’s stock. Mizuho’s target price would suggest a potential upside of 25.01% from the company’s current price.

AVGO has been the subject of a number of other reports. Truist Financial boosted their price objective on shares of Broadcom from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. William Blair initiated coverage on shares of Broadcom in a report on Wednesday, September 18th. They set an “outperform” rating for the company. TD Cowen upgraded shares of Broadcom to a “strong-buy” rating in a report on Monday, September 16th. Finally, UBS Group lowered their price target on shares of Broadcom from $173.50 to $170.00 and set a “buy” rating for the company in a report on Monday, September 9th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $191.54.

Broadcom Trading Down 3.5 %

Shares of Broadcom stock opened at $175.98 on Monday. The firm has a market cap of $819.17 billion, a PE ratio of 7.57, a PEG ratio of 2.99 and a beta of 1.17. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. Broadcom has a 1 year low of $81.83 and a 1 year high of $186.42. The company has a 50 day simple moving average of $164.36 and a two-hundred day simple moving average of $152.27.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.98 billion. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. Analysts expect that Broadcom will post 3.78 earnings per share for the current fiscal year.

Insider Transactions at Broadcom

In related news, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $182.88, for a total value of $3,456,432.00. Following the transaction, the insider now owns 380,560 shares in the company, valued at $69,596,812.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CEO Hock E. Tan sold 150,000 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $172.94, for a total value of $25,941,000.00. Following the transaction, the chief executive officer now owns 1,181,910 shares in the company, valued at $204,399,515.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 18,900 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $182.88, for a total transaction of $3,456,432.00. Following the completion of the transaction, the insider now owns 380,560 shares in the company, valued at approximately $69,596,812.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 295,130 shares of company stock valued at $50,646,622 in the last three months. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Broadcom

Several hedge funds and other institutional investors have recently bought and sold shares of AVGO. Brady Family Wealth LLC boosted its holdings in shares of Broadcom by 939.4% during the 3rd quarter. Brady Family Wealth LLC now owns 45,392 shares of the semiconductor manufacturer’s stock valued at $7,830,000 after acquiring an additional 41,025 shares during the last quarter. Capital Advisors Wealth Management LLC boosted its holdings in shares of Broadcom by 902.0% during the 3rd quarter. Capital Advisors Wealth Management LLC now owns 16,643 shares of the semiconductor manufacturer’s stock valued at $2,871,000 after acquiring an additional 14,982 shares during the last quarter. Foster Victor Wealth Advisors LLC boosted its holdings in shares of Broadcom by 14.5% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 108,019 shares of the semiconductor manufacturer’s stock valued at $20,086,000 after acquiring an additional 13,705 shares during the last quarter. First United Bank & Trust boosted its holdings in shares of Broadcom by 588.6% during the 3rd quarter. First United Bank & Trust now owns 1,150 shares of the semiconductor manufacturer’s stock valued at $198,000 after acquiring an additional 983 shares during the last quarter. Finally, PFG Advisors boosted its holdings in shares of Broadcom by 886.0% during the 3rd quarter. PFG Advisors now owns 30,200 shares of the semiconductor manufacturer’s stock valued at $5,210,000 after acquiring an additional 27,137 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Broadcom Company Profile

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.