Broadcom (NASDAQ:AVGO – Get Free Report)‘s stock had its “hold” rating reissued by research analysts at Erste Group Bank in a research report issued on Tuesday, Marketbeat reports.
Other analysts have also issued research reports about the company. Weiss Ratings lowered Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, June 26th. Morgan Stanley set a $502.00 price objective on Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. KeyCorp reissued an “overweight” rating and set a $575.00 target price (up from $500.00) on shares of Broadcom in a report on Thursday, June 4th. Susquehanna reaffirmed a “positive” rating and set a $490.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, May 28th. Finally, Truist Financial lifted their price target on Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average price target of $493.24.
View Our Latest Stock Analysis on AVGO
Broadcom Trading Down 1.8%
Broadcom (NASDAQ:AVGO – Get Free Report) last announced its quarterly earnings data 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. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter last year, the firm earned $1.58 earnings per share. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. As a group, research analysts predict that Broadcom will post 10.24 earnings per share for the current fiscal year.
Insider Activity at Broadcom
In other news, insider Charlie B. Kawwas sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the transaction, the insider directly owned 787,184 shares in the company, valued at $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Justine Page sold 2,018 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the sale, the director directly owned 18,164 shares in the company, valued at $6,411,892. This represents a 10.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,987 shares of company stock valued at $21,899,980 over the last quarter. 1.90% of the stock is owned by insiders.
Institutional Investors Weigh In On Broadcom
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fullerton Advisors LLC increased its stake in shares of Broadcom by 1.3% during the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after acquiring an additional 25 shares during the period. NORTHSTAR ASSET MANAGEMENT Co lifted its holdings in shares of Broadcom by 0.5% in the 1st quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after buying an additional 25 shares during the period. RFG Holdings Inc. lifted its holdings in shares of Broadcom by 0.3% in the 1st quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock valued at $2,631,000 after buying an additional 26 shares during the period. Yukon Wealth Management Inc. boosted its stake in shares of Broadcom by 1.1% in the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock valued at $774,000 after buying an additional 26 shares in the last quarter. Finally, Capital Planning LLC boosted its stake in shares of Broadcom by 0.7% in the first quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer’s stock valued at $1,252,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.
Key Stories Impacting Broadcom
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
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.
Featured Stories
- Five stocks we like better than Broadcom
- GE Vernova’s Power Surge Turns the Grid Into an AI Trade
- Orbiting Capital: Lawmakers Buy SpaceX Ahead of Index Inclusion
- Big Beautiful Boycott: Can It Really Hurt Coca-Cola, Amazon, and Kraft Heinz Stocks?
- 3 Stocks With Solid Yields and Sustainabale Payouts Boost Dividends Once Again
Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.
