Broadcom (NASDAQ:AVGO) PT Raised to $720.00

Broadcom (NASDAQ:AVGO – Get Rating) had its target price upped by equities research analysts at Mizuho from $700.00 to $720.00 in a research report issued on Friday, The Fly reports. Mizuho’s price objective points to a potential upside of 13.79% from the stock’s previous close.

AVGO has been the subject of several other reports. Piper Sandler reduced their target price on Broadcom from $750.00 to $715.00 and set an “overweight” rating for the company in a research note on Monday, December 5th. Bank of America increased their price objective on shares of Broadcom from $680.00 to $725.00 in a research note on Friday. Truist Financial dropped their target price on shares of Broadcom from $662.00 to $659.00 and set a “buy” rating for the company in a research report on Monday, January 23rd. KeyCorp upped their target price on shares of Broadcom from $700.00 to $720.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Susquehanna lifted their price target on Broadcom from $650.00 to $685.00 and gave the stock a “positive” rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $673.89.

Broadcom Stock Performance

Broadcom stock opened at $632.76 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.62 and a quick ratio of 2.35. The firm’s fifty day moving average price is $583.86 and its 200 day moving average price is $529.45. The company has a market capitalization of $263.81 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 1.26 and a beta of 1.10. Broadcom has a 12-month low of $415.07 and a 12-month high of $645.31.

Broadcom (NASDAQ:AVGO – Get Rating) last announced its earnings results on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.38 by $0.95. The business had revenue of $8.92 billion for the quarter, compared to analyst estimates of $8.90 billion. Broadcom had a return on equity of 75.05% and a net margin of 37.19%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the company earned $7.68 earnings per share. On average, research analysts forecast that Broadcom will post 37.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Justine Page sold 170 shares of the business’s stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $574.86, for a total transaction of $97,726.20. Following the completion of the transaction, the director now owns 2,981 shares of the company’s stock, valued at $1,713,657.66. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Broadcom

Hedge funds have recently made changes to their positions in the business. Veracity Capital LLC increased its position in Broadcom by 7.6% in the 3rd quarter. Veracity Capital LLC now owns 537 shares of the semiconductor manufacturer’s stock valued at $239,000 after acquiring an additional 38 shares during the period. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of Broadcom in the third quarter worth $118,000. Hillsdale Investment Management Inc. increased its holdings in shares of Broadcom by 9.2% during the third quarter. Hillsdale Investment Management Inc. now owns 1,314 shares of the semiconductor manufacturer’s stock valued at $584,000 after purchasing an additional 111 shares during the period. TCI Wealth Advisors Inc. raised its stake in shares of Broadcom by 14.6% during the third quarter. TCI Wealth Advisors Inc. now owns 464 shares of the semiconductor manufacturer’s stock valued at $206,000 after purchasing an additional 59 shares in the last quarter. Finally, Rathbones Group Plc acquired a new stake in Broadcom in the third quarter worth about $271,000. Institutional investors own 81.28% of the company’s stock.

Broadcom Company Profile

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Broadcom, Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.