Barclays Issues Positive Forecast for Broadcom (NASDAQ:AVGO) Stock Price

Broadcom (NASDAQ:AVGO) had its price objective raised by analysts at Barclays from $205.00 to $260.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor manufacturer’s stock. Barclays‘s target price suggests a potential upside of 13.33% from the stock’s current price.

Other equities research analysts have also recently issued reports about the company. UBS Group increased their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Broadcom from $190.00 to $240.00 and gave the company a “buy” rating in a report on Friday, December 13th. Truist Financial boosted their price objective on shares of Broadcom from $205.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, December 13th. Piper Sandler increased their target price on shares of Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Finally, JPMorgan Chase & Co. lifted their target price on Broadcom from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $225.83.

Broadcom Trading Up 0.6 %

NASDAQ:AVGO opened at $229.41 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The company’s 50 day moving average is $200.02 and its 200-day moving average is $177.11. The firm has a market cap of $1.08 trillion, a price-to-earnings ratio of 187.12, a P/E/G ratio of 2.35 and a beta of 1.03. Broadcom has a 12 month low of $109.02 and a 12 month high of $251.88.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The company had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The business’s quarterly revenue was up 51.2% compared to the same quarter last year. Equities analysts anticipate that Broadcom will post 5.38 EPS for the current year.

Insider Buying and Selling at Broadcom

In other news, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $239.96, for a total transaction of $10,798,200.00. Following the transaction, the chief executive officer now directly owns 842,836 shares in the company, valued at approximately $202,246,926.56. This represents a 5.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Harry L. You sold 6,540 shares of the stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at $7,308,000. This trade represents a 17.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 191,278 shares of company stock worth $44,964,800. 2.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Broadcom

Large investors have recently made changes to their positions in the company. Castleview Partners LLC lifted its position in Broadcom by 1,030.8% during the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 134 shares during the period. Pin Oak Investment Advisors Inc. raised its stake in shares of Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 135 shares during the last quarter. JDM Financial Group LLC lifted its holdings in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the period. Retirement Wealth Solutions LLC bought a new position in Broadcom in the fourth quarter valued at approximately $37,000. Finally, Tsfg LLC boosted its stake in Broadcom by 1,073.7% in the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock valued at $38,000 after acquiring an additional 204 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

About Broadcom

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.