Broadcom Inc. (NASDAQ:AVGO) Given Average Rating of “Moderate Buy” by Brokerages

Broadcom Inc. (NASDAQ:AVGO) has received a consensus recommendation of “Moderate Buy” from the thirty-two research firms that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and twenty-eight have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $493.2414.

A number of equities research analysts have recently issued reports on AVGO shares. Oppenheimer reiterated an “outperform” rating and set a $535.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, June 4th. The Goldman Sachs Group restated a “buy” rating on shares of Broadcom in a report on Monday, August 3rd. Morgan Stanley set a $502.00 price objective on Broadcom and gave the company an “overweight” rating in a research note on Thursday, June 4th. Wall Street Zen downgraded Broadcom from a “strong-buy” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $500.00 target price on shares of Broadcom in a research report on Thursday, June 4th.

Insider Buying and Selling at Broadcom

In other Broadcom news, Director Gayla J. Delly sold 1,890 shares of Broadcom stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director owned 31,326 shares in the company, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the transaction, the insider owned 194,989 shares of the company’s stock, valued at approximately $78,254,935.37. The trade was a 11.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,644 shares of company stock valued at $24,016,214 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of AVGO. Norges Bank acquired a new position in shares of Broadcom in the fourth quarter worth $24,252,196,000. Legal & General Group Plc acquired a new stake in shares of Broadcom during the second quarter valued at $11,998,148,000. Bank of New York Mellon Corp acquired a new stake in shares of Broadcom during the second quarter valued at $10,528,191,000. Jupiter Topco LLC purchased a new stake in Broadcom during the 2nd quarter worth about $7,396,271,000. Finally, Deutsche Bank AG purchased a new stake in Broadcom during the 2nd quarter worth about $5,661,216,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom Stock Performance

Shares of AVGO opened at $393.05 on Monday. The company has a 50-day simple moving average of $389.79 and a 200-day simple moving average of $373.30. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $1.87 trillion, a PE ratio of 65.51, a P/E/G ratio of 0.80 and a beta of 1.45. Broadcom has a 52-week low of $281.87 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the previous year, the firm earned $1.58 earnings per share. The firm’s revenue was up 47.9% on a year-over-year basis. Equities research analysts predict that Broadcom will post 10.24 earnings per share for the current fiscal year.

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, June 22nd. Broadcom’s payout ratio is 43.33%.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

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.