Susquehanna Raises Broadcom (NASDAQ:AVGO) Price Target to $785.00

Broadcom (NASDAQ:AVGO – Get Rating) had its target price raised by stock analysts at Susquehanna from $690.00 to $785.00 in a research note issued to investors on Thursday, The Fly reports. Susquehanna’s price objective would suggest a potential upside of 15.52% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Broadcom from $590.00 to $675.00 and gave the company a “buy” rating in a report on Friday, March 3rd. Benchmark started coverage on shares of Broadcom in a research note on Wednesday, April 12th. They set a “buy” rating and a $770.00 target price for the company. Truist Financial raised their price target on shares of Broadcom from $659.00 to $700.00 and gave the stock a “buy” rating in a research note on Friday, March 3rd. BNP Paribas assumed coverage on shares of Broadcom in a research report on Tuesday, February 28th. They issued an “outperform” rating and a $660.00 price objective for the company. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $775.00 target price on shares of Broadcom in a research report on Wednesday, March 1st. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and a consensus price target of $688.16.

Broadcom Trading Down 1.0 %

Shares of AVGO opened at $679.53 on Thursday. Broadcom has a fifty-two week low of $415.07 and a fifty-two week high of $698.99. The stock has a market capitalization of $283.31 billion, a PE ratio of 22.87, a P/E/G ratio of 1.41 and a beta of 1.10. The company’s fifty day moving average is $634.49 and its 200 day moving average is $590.95. The company has a debt-to-equity ratio of 1.64, a quick ratio of 2.26 and a current ratio of 2.52.

Broadcom (NASDAQ:AVGO – Get Rating) last announced its earnings results on Thursday, March 2nd. The semiconductor manufacturer reported $10.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.38 by $0.95. Broadcom had a net margin of 37.19% and a return on equity of 73.52%. The firm had revenue of $8.92 billion for the quarter, compared to analysts’ expectations of $8.90 billion. During the same period in the prior year, the company earned $7.68 EPS. The business’s revenue was up 15.7% compared to the same quarter last year. Sell-side analysts expect that Broadcom will post 38.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Broadcom news, Director Eddy W. Hartenstein sold 3,175 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $625.01, for a total value of $1,984,406.75. Following the completion of the sale, the director now directly owns 9,734 shares in the company, valued at $6,083,847.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Broadcom news, Director Eddy W. Hartenstein sold 3,175 shares of the firm’s stock in a transaction dated Tuesday, March 14th. The stock was sold at an average price of $625.01, for a total value of $1,984,406.75. Following the completion of the sale, the director now owns 9,734 shares of the company’s stock, valued at $6,083,847.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Hock E. Tan sold 30,000 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $626.04, for a total transaction of $18,781,200.00. Following the transaction, the chief executive officer now owns 214,514 shares in the company, valued at approximately $134,294,344.56. The disclosure for this sale can be found here. Insiders sold a total of 40,915 shares of company stock worth $25,576,507 in the last 90 days. 2.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Broadcom

Several institutional investors and hedge funds have recently made changes to their positions in AVGO. Verity Asset Management Inc. raised its stake in Broadcom by 3.0% in the 1st quarter. Verity Asset Management Inc. now owns 509 shares of the semiconductor manufacturer’s stock worth $327,000 after acquiring an additional 15 shares during the last quarter. Old North State Trust LLC increased its holdings in shares of Broadcom by 1,189.9% in the first quarter. Old North State Trust LLC now owns 3,315 shares of the semiconductor manufacturer’s stock valued at $165,000 after purchasing an additional 3,058 shares during the period. Toroso Investments LLC raised its stake in shares of Broadcom by 39.9% in the first quarter. Toroso Investments LLC now owns 20,820 shares of the semiconductor manufacturer’s stock worth $13,357,000 after purchasing an additional 5,938 shares during the last quarter. 3Chopt Investment Partners LLC acquired a new stake in shares of Broadcom during the first quarter worth about $1,516,000. Finally, Raleigh Capital Management Inc. boosted its position in Broadcom by 4.8% in the first quarter. Raleigh Capital Management Inc. now owns 981 shares of the semiconductor manufacturer’s stock valued at $630,000 after buying an additional 45 shares during the last quarter. 81.28% of the stock is currently owned by institutional investors and hedge funds.

Broadcom Company Profile

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Broadcom Inc is a global technology company, which designs, develops, and supplies semiconductor and infrastructure software solutions. It operates through the Semiconductor Solutions and Infrastructure Software segments. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise, and embedded networking applications.