Broadcom (NASDAQ:AVGO) Upgraded by Wall Street Zen to “Strong-Buy” Rating

Broadcom (NASDAQ:AVGO) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report issued on Wednesday.

A number of other brokerages have also issued reports on AVGO. JPMorgan Chase & Co. raised their price objective on shares of Broadcom from $500.00 to $580.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Truist Financial lifted their target price on Broadcom from $545.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. TD Cowen reaffirmed a “buy” rating and issued a $500.00 price objective on shares of Broadcom in a research note on Thursday, June 4th. Citigroup restated a “buy” rating on shares of Broadcom in a report on Thursday, June 4th. Finally, Oppenheimer reissued an “outperform” rating and set a $535.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $493.24.

Broadcom Stock Performance

NASDAQ:AVGO opened at $377.75 on Wednesday. Broadcom has a twelve month low of $262.66 and a twelve month high of $495.00. 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 stock’s 50-day simple moving average is $410.61 and its 200 day simple moving average is $362.60. The firm has a market capitalization of $1.80 trillion, a PE ratio of 62.96, a price-to-earnings-growth ratio of 0.65 and a beta of 1.41.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion for the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period last year, the company posted $1.58 EPS. On average, analysts anticipate that Broadcom will post 10.24 EPS for the current fiscal year.

Insider Buying and Selling at Broadcom

In related news, insider S. Ram Velaga sold 8,000 shares of the business’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the transaction, the insider directly owned 57,932 shares in the company, valued at approximately $21,464,964.64. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark David Brazeal sold 4,825 shares of Broadcom stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $394.91, for a total value of $1,905,440.75. Following the sale, the insider owned 269,989 shares in the company, valued at $106,621,355.99. This trade represents a 1.76% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 59,385 shares of company stock valued at $21,301,057 in the last three months. Insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AVGO. ROSS JOHNSON & Associates LLC lifted its stake in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 66 shares in the last quarter. Networth Advisors LLC increased its position in shares of Broadcom by 546.2% during the 1st quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 71 shares during the last quarter. SWAN Capital LLC lifted its position in Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 55 shares during the last quarter. Miller Global Investments LLC bought a new stake in shares of Broadcom in the 4th quarter worth approximately $31,000. Finally, Nvest Wealth Strategies Inc. purchased a new stake in shares of Broadcom in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Jefferies reiterated its Buy rating on Broadcom and kept a $550 price target, suggesting substantial upside from current levels. Analyst updates Broadcom (AVGO) stock price target
• Positive Sentiment: Erste Group raised its earnings estimates for Broadcom, including higher FY2026 and FY2027 EPS forecasts, reinforcing the view that earnings growth remains strong. Broadcom estimate update
• Positive Sentiment: Coverage around Broadcom’s partnership with OpenAI on the Jalapeño AI accelerator continues to support the company’s AI growth story and long-term demand outlook. What Broadcom (AVGO)’s Jalapeño AI Accelerator Partnership With OpenAI Means For Shareholders
• Neutral Sentiment: Several articles highlighted Broadcom’s recent weakness and “buy the dip” debate, indicating that investor sentiment is cautious but not turning bearish on fundamentals. Broadcom’s Stock Has Slumped Over 20% From Its Highs. These Experts Say They Would Buy the Dip
• Negative Sentiment: Reports of heavy insider selling over the past two weeks may weigh on sentiment, as investors often view large insider sales as a cautionary signal. Monster insider trading alert for Broadcom (AVGO) stock

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.