Broadcom (NASDAQ:AVGO) Stock Rating Lowered by Wall Street Zen

Broadcom (NASDAQ:AVGO) was downgraded by equities research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

Several other analysts have also commented on the company. Morgan Stanley set a $502.00 price objective on Broadcom and gave the company an “overweight” rating in a report on Thursday, June 4th. Royal Bank Of Canada boosted their target price on Broadcom from $360.00 to $400.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 4th. Evercore reaffirmed an “outperform” rating and set a $582.00 target price on shares of Broadcom in a research report on Tuesday, May 19th. Mizuho increased their price target on Broadcom from $480.00 to $530.00 and gave the company an “outperform” rating in a research note on Thursday, June 4th. Finally, Benchmark raised their price target on Broadcom from $485.00 to $545.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $490.13.

Broadcom Trading Down 4.7%

NASDAQ AVGO opened at $392.13 on Tuesday. Broadcom has a 52 week low of $246.46 and a 52 week high of $495.00. The company has a 50 day moving average price of $412.17 and a 200 day moving average price of $363.42. 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 firm has a market cap of $1.87 trillion, a PE ratio of 65.36, a price-to-earnings-growth ratio of 0.72 and a beta of 1.41.

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

Insider Activity

In other Broadcom news, Director Harry L. You purchased 1,000 shares of Broadcom stock in a transaction on Thursday, June 11th. The stock was bought at an average cost of $373.57 per share, with a total value of $373,570.00. Following the transaction, the director owned 38,466 shares of the company’s stock, valued at $14,369,743.62. This represents a 2.67% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total value of $3,452,300.00. Following the completion of the transaction, the insider directly owned 787,184 shares of the company’s stock, valued at $271,759,532.32. The trade was a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 59,385 shares of company stock valued at $21,301,057. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Broadcom

A number of large investors have recently added to or reduced their stakes in the stock. Fullerton Advisors LLC boosted its holdings in shares of Broadcom by 1.3% during the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock worth $616,000 after purchasing an additional 25 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its position in shares of Broadcom by 0.5% in the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after purchasing an additional 25 shares in the last quarter. RFG Holdings Inc. increased its holdings in shares of Broadcom by 0.3% in the first quarter. RFG Holdings Inc. now owns 8,499 shares of the semiconductor manufacturer’s stock valued at $2,631,000 after purchasing an additional 26 shares during the last quarter. Yukon Wealth Management Inc. increased its holdings in shares of Broadcom by 1.1% in the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock valued at $774,000 after purchasing an additional 26 shares during the last quarter. Finally, Capital Planning LLC lifted its position in Broadcom by 0.7% during the first quarter. Capital Planning LLC now owns 4,044 shares of the semiconductor manufacturer’s stock worth $1,252,000 after buying an additional 28 shares in the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

More Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts and market commentators are pointing to Broadcom’s strong AI demand as the main reason to stay bullish. Recent coverage highlighted record semiconductor sales, AI chip and networking demand, and strong customer commitments as evidence that the company’s AI growth story remains intact. Broadcom’s AI Push Boosts Semiconductor Sales: More Upside Ahead?
• Positive Sentiment: JPMorgan reportedly reiterated buy-the-dip optimism, citing Broadcom’s multi-year Google partnership, record quarterly revenue of $22.19 billion, and AI semiconductor sales of $10.8 billion, up 143% year over year. The note also pointed to expectations for another step-up in AI-chip growth next quarter. Broadcom’s AI boom — Google deal and huge revenue growth spark buy-the-dip calls
• Positive Sentiment: Several pieces argue that the market is overreacting to a modest AI revenue guide and that the selloff has created an accumulation opportunity. They emphasize that Broadcom’s revenue, semiconductor growth, AI bookings, and backlog are all at record levels, which supports the longer-term investment case. The Grandest Castle Ever Floated (and the Stocks to Profit From It)
• Positive Sentiment: Broadcom is also attracting broader investor attention and continued analyst support, including a consensus “Moderate Buy” rating, which may help stabilize sentiment after the recent decline. Broadcom Inc. (NASDAQ:AVGO) Receives Consensus Recommendation of “Moderate Buy” from Analysts

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.