Broadcom’s (AVGO) Buy Rating Reiterated at Rosenblatt Securities

Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating restated by analysts at Rosenblatt Securities in a report issued on Tuesday, Benzinga reports. They currently have a $600.00 price target on the semiconductor manufacturer’s stock. Rosenblatt Securities‘s target price suggests a potential upside of 75.27% from the stock’s previous close.

Several other brokerages have also recently commented on AVGO. Raymond James Financial reaffirmed an “outperform” rating and set a $475.00 price target (up from $450.00) on shares of Broadcom in a research report on Thursday, September 3rd. Royal Bank Of Canada began coverage on shares of Broadcom in a research note on Thursday, September 3rd. They set an “outperform” rating on the stock. Fox Advisors upgraded shares of Broadcom to an “outperform” rating in a research note on Thursday, September 3rd. HSBC dropped their price objective on shares of Broadcom from $600.00 to $560.00 and set a “buy” rating on the stock in a research note on Thursday, September 3rd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Broadcom in a research note on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $530.52.

Broadcom Stock Up 4.0%

Shares of AVGO stock traded up $13.16 during trading hours on Tuesday, hitting $342.33. 25,501,356 shares of the company were exchanged, compared to its average volume of 24,857,689. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. Broadcom has a one year low of $289.96 and a one year high of $495.00. The business’s 50-day simple moving average is $356.76 and its two-hundred day simple moving average is $367.07. The stock has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 43.72 and a beta of 1.46.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS for the quarter, topping the consensus estimate of $3.22 by $0.10. Broadcom had a net margin of 42.94% and a return on equity of 48.33%. The business had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. During the same quarter last year, the company posted $1.69 earnings per share. The company’s quarterly revenue was up 85.5% compared to the same quarter last year. Sell-side analysts predict that Broadcom will post 10.37 EPS for the current fiscal year.

Institutional Investors Weigh In On Broadcom

Several large investors have recently made changes to their positions in AVGO. Cornerstone Advisors LLC bought a new position in shares of Broadcom during the 2nd quarter valued at $92,522,000. GAMMA Investing LLC raised its holdings in shares of Broadcom by 8.8% during the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer’s stock valued at $55,889,000 after purchasing an additional 13,317 shares in the last quarter. ANB Bank bought a new position in shares of Broadcom during the 3rd quarter valued at $1,181,000. Bank of America Corp DE raised its holdings in shares of Broadcom by 1.5% during the 1st quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock valued at $18,179,719,000 after purchasing an additional 894,564 shares in the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in shares of Broadcom during the 2nd quarter valued at $3,302,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Anthropic financing deal strengthens AI demand visibility. Banks and asset managers reportedly arranged $63 billion in financing for a special-purpose vehicle to purchase and lease Broadcom’s custom AI accelerators and networking equipment to Anthropic. Truist estimates the arrangement could generate as much as $30 billion in revenue for Broadcom, although the deal also carries financing and execution risks. Banks, Blackstone Form $63 Billion Financing Vehicle for Broadcom AI Tech
• Positive Sentiment: Anthropic’s IPO filing highlights sizable future compute requirements. The filing disclosed approximately $224.5 billion of non-cancelable compute commitments with Amazon and Alphabet, supporting the broader thesis that AI infrastructure suppliers—including Broadcom’s custom silicon and networking businesses—could benefit from long-term capacity expansion. Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
• Positive Sentiment: Analyst upgrades improved sentiment. D.A. Davidson upgraded AVGO to Buy from Neutral and raised its price target to $400 from $350, citing continued AI spending and upcoming AI-company IPOs. Rosenblatt also reaffirmed Buy with a $600 target, well above the current reference price. Why is Broadcom stock rising?
• Neutral Sentiment: Broadcom released fixes for 89 vulnerabilities in its TrueSource Spring Enterprise software, reinforcing its enterprise-security offering but providing limited evidence of an immediate material financial impact. New Broadcom Enhancements to TrueSource Spring Enterprise
• Negative Sentiment: Risks remain material. Investors are monitoring margin pressure from a rising AI revenue mix, supply constraints, dependence on a concentrated group of AI customers, weak non-AI operations and potentially significant off-balance-sheet guarantees. Analysts have also been cutting estimates, while Alphabet’s diversification of TPU suppliers raises competitive concerns. Broadcom Drops 6% in a Month

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software products. Its semiconductor solutions support data center, networking, broadband, wireless communications, storage, industrial and other electronic applications.

The company’s semiconductor portfolio includes networking and switching components, custom accelerators, connectivity and wireless devices, broadband equipment, optical products, storage controllers and related infrastructure technologies.