Broadcom Inc. (NASDAQ:AVGO – Get Free Report) shares were up 3.2% during mid-day trading on Friday after Truist Financial raised their price target on the stock from $500.00 to $510.00. Truist Financial currently has a buy rating on the stock. Broadcom traded as high as $343.45 and last traded at $340.36. Approximately 157,670,441 shares were traded during trading, an increase of 487% from the average daily volume of 26,866,146 shares. The stock had previously closed at $329.88.
AVGO has been the topic of several other reports. Robert W. Baird set a $420.00 price target on shares of Broadcom in a report on Friday, December 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Broadcom in a research report on Monday, December 15th. Cowen restated a “buy” rating on shares of Broadcom in a research note on Friday, December 12th. Citigroup reaffirmed a “buy” rating and issued a $480.00 target price (up from $415.00) on shares of Broadcom in a report on Friday, December 12th. Finally, Rosenblatt Securities lifted their price target on Broadcom from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, December 9th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $436.33.
View Our Latest Stock Analysis on AVGO
Insider Buying and Selling at Broadcom
Key Stores Impacting Broadcom
Here are the key news stories impacting Broadcom this week:
- Positive Sentiment: Truist raised its price target to $510 and kept a buy stance, signaling big upside vs. current levels. AVGO: Broadcom price target raised by Truist
- Positive Sentiment: Company beat expectations and issued AI-related revenue commentary (large AI/XPU and networking opportunity), supporting a growth story tied to data-center demand. Broadcom soars past expectations with blockbuster results
- Positive Sentiment: Unusual options activity: traders bought ~323,615 call contracts, well above average, indicating speculative/hedged bullish bets on near-term upside.
- Positive Sentiment: Broadcom raised its quarterly dividend ~10% (new quarterly payment $0.65) — a sign of strong cash flow and shareholder returns. Broadcom stock just raised its dividend by 10%
- Neutral Sentiment: High-profile bullish coverage and commentary (Wall Street lists and media pieces) are amplifying interest but also raising expectations. Here’s why Wall Street is bullish on Broadcom stock (AVGO)
- Neutral Sentiment: Jim Cramer publicly said he isn’t very worried about Broadcom, which can calm retail sentiment but is not a fundamental driver. Jim Cramer says he is not that worried about Broadcom
- Negative Sentiment: Several insiders (including senior execs) have sold shares in recent filings — a potential overhang for sentiment even if sales may be for diversification/liquidity. Charlie Kawwas Sells 1,235 Shares of Broadcom
- Negative Sentiment: Sharp recent sell-off (~20% from pre-earnings levels) has created volatility and forced short-term selling pressure despite analysts raising targets. Broadcom Stock Crashes 20%—But Wall Street Sees It Soaring to $500
Hedge Funds Weigh In On Broadcom
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Broadcom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 483,442,939 shares of the semiconductor manufacturer’s stock worth $133,261,046,000 after buying an additional 6,222,802 shares during the period. State Street Corp lifted its position in shares of Broadcom by 0.5% during the second quarter. State Street Corp now owns 185,276,987 shares of the semiconductor manufacturer’s stock worth $51,071,601,000 after acquiring an additional 873,963 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Broadcom by 2.1% during the second quarter. Geode Capital Management LLC now owns 108,610,718 shares of the semiconductor manufacturer’s stock worth $29,827,649,000 after acquiring an additional 2,226,585 shares in the last quarter. Norges Bank bought a new position in shares of Broadcom in the second quarter worth $18,579,549,000. Finally, Invesco Ltd. grew its position in shares of Broadcom by 1.8% in the third quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer’s stock valued at $12,915,861,000 after purchasing an additional 700,021 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.
Broadcom Stock Performance
The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.58 and a current ratio of 1.71. The company has a market capitalization of $1.61 trillion, a P/E ratio of 71.50, a price-to-earnings-growth ratio of 1.17 and a beta of 1.19. The business has a 50 day moving average of $362.98 and a 200-day moving average of $321.10.
Broadcom (NASDAQ:AVGO – Get Free Report) last issued its earnings results on Thursday, December 11th. The semiconductor manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $1.87 by $0.08. The business had revenue of $18.02 billion during the quarter, compared to the consensus estimate of $17.46 billion. Broadcom had a return on equity of 37.45% and a net margin of 36.20%.The firm’s revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.42 EPS. On average, sell-side analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.
Broadcom Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 22nd will be issued a dividend of $0.65 per share. This is a boost from Broadcom’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Monday, December 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.8%. Broadcom’s payout ratio is currently 49.58%.
Broadcom Company Profile
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.
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