Broadcom’s (AVGO) “Overweight” Rating Reiterated at KeyCorp

Broadcom (NASDAQ:AVGO)‘s stock had its “overweight” rating reissued by analysts at KeyCorp in a research report issued on Thursday, September 3rd, Benzinga reports. They currently have a $575.00 target price on the semiconductor manufacturer’s stock. KeyCorp’s target price points to a potential upside of 64.12% from the company’s previous close.

Several other analysts also recently commented on the company. Morgan Stanley restated an “overweight” rating and issued a $505.00 target price (up from $502.00) on shares of Broadcom in a research note on Thursday, September 3rd. Benchmark upped their price target on Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Mizuho increased their price target on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. TD Cowen reissued a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Broadcom in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-seven have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $527.20.

Broadcom Trading Down 1.3%

Shares of AVGO stock traded down $4.63 during trading hours on Thursday, hitting $350.36. 20,823,200 shares of the company were exchanged, compared to its average volume of 25,250,080. The company has a 50 day simple moving average of $377.21 and a two-hundred day simple moving average of $380.26. The firm has a market cap of $1.67 trillion, a P/E ratio of 44.75 and a beta of 1.44. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. Broadcom has a fifty-two week low of $289.96 and a fifty-two week high of $495.00.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.22 by $0.10. The business had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. Broadcom’s revenue was up 85.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.69 earnings per share. Equities analysts anticipate that Broadcom will post 10.36 EPS for the current year.

Insider Transactions at Broadcom

In other news, insider Mark Brazeal sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the transaction, the insider owned 194,989 shares in the company, valued at $78,254,935.37. This trade represents a 11.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Justine Page sold 1,602 shares of Broadcom stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the transaction, the director directly owned 17,426 shares in the company, valued at approximately $6,514,884.36. The trade was a 8.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 53,492 shares of company stock valued at $20,840,292 over the last ninety days. 1.90% of the stock is currently owned by insiders.

Institutional Trading of Broadcom

Institutional investors have recently made changes to their positions in the company. QRG Capital Management Inc. lifted its position in shares of Broadcom by 10.1% during the second quarter. QRG Capital Management Inc. now owns 864,506 shares of the semiconductor manufacturer’s stock valued at $323,796,000 after purchasing an additional 79,451 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Broadcom by 9.4% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 227,394 shares of the semiconductor manufacturer’s stock worth $85,882,000 after purchasing an additional 19,465 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Broadcom by 9.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 8,133,536 shares of the semiconductor manufacturer’s stock valued at $3,003,100,000 after buying an additional 735,257 shares during the last quarter. Andra AP fonden lifted its position in shares of Broadcom by 25.9% during the 2nd quarter. Andra AP fonden now owns 817,960 shares of the semiconductor manufacturer’s stock worth $308,984,000 after buying an additional 168,260 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Broadcom by 8.7% during the 2nd quarter. State Street Corp now owns 208,031,610 shares of the semiconductor manufacturer’s stock worth $75,367,711,000 after buying an additional 16,651,378 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-chip opportunity remains the primary bullish catalyst. Analysts and bullish investors point to hyperscaler partnerships, AI networking demand, and management’s projections for approximately $115 billion in AI semiconductor revenue in fiscal 2027 and $230 billion in fiscal 2028. The AI Boom Isn’t Over: 3 Stocks You Need to Watch
• Positive Sentiment: Recent coverage also highlights Broadcom’s share-repurchase activity and AI-chip deals with major hyperscalers, reinforcing the view that the company can benefit as customers diversify beyond standard AI processors. Its software business and dividend-growth history provide additional long-term support. Broadcom Is Up 7.4% After Massive Buybacks and AI Chip Deals
• Neutral Sentiment: Broadcom’s valuation reflects substantial optimism, with a reported price-to-earnings ratio above 44 and the stock trading below its 50-day and 200-day moving averages. Analysts remain constructive, but the market is demanding strong execution against ambitious AI forecasts.
• Neutral Sentiment: Broader semiconductor sentiment has also been affected by higher Treasury yields, rising oil prices, and profit-taking after a strong market advance. These factors may be amplifying the reaction to company-specific news. Why Are Intel, AMD, and Broadcom Stocks Down?
• Negative Sentiment: China is reportedly surveying Broadcom switches used in state-backed data centers as Beijing encourages domestic semiconductor suppliers and reduces reliance on foreign technology. The review raises risks of lost Chinese business, tighter restrictions, and slower adoption of Broadcom’s networking products. China Surveys Broadcom Switch Use in State Data Centers
• Negative Sentiment: Investors are increasingly focused on whether Broadcom can convert its aggressive AI outlook into results while managing geopolitical exposure and elevated expectations. The China developments add a new risk to an AI thesis already priced for considerable growth. Broadcom: China Just Added a New Risk to the AI Story

About Broadcom

Broadcom Inc (NASDAQ:AVGO) designs, develops and supplies semiconductor and infrastructure software products for businesses, telecommunications providers and other organizations worldwide. Its semiconductor portfolio includes networking and connectivity components, custom application-specific integrated circuits, broadband and wireless communications products, storage adapters, optical components, and industrial solutions.

The company also provides enterprise infrastructure software through businesses including VMware, which offers virtualization and private- and hybrid-cloud solutions; mainframe and enterprise software; and cybersecurity products.