Truist Financial Cuts Broadcom (NASDAQ:AVGO) Price Target to $520.00

Broadcom (NASDAQ:AVGO) had its price objective trimmed by Truist Financial from $550.00 to $520.00 in a research note published on Thursday morning, Marketbeat.com reports. The firm currently has a buy rating on the semiconductor manufacturer’s stock.

Other research analysts have also issued reports about the stock. Mizuho lifted their price objective on shares of Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Dbs Bank raised shares of Broadcom to a “moderate buy” rating in a research note on Thursday, June 18th. Zacks Research lowered shares of Broadcom from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 21st. Weiss Ratings downgraded shares of Broadcom from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, July 30th. Finally, KeyCorp restated an “overweight” rating and set a $575.00 target price on shares of Broadcom in a research report on Thursday. Thirty-one equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $500.60.

Broadcom Price Performance

NASDAQ:AVGO opened at $357.89 on Thursday. The firm has a market capitalization of $1.70 trillion, a price-to-earnings ratio of 45.71, a PEG ratio of 0.68 and a beta of 1.44. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.01. The business has a 50 day simple moving average of $383.57 and a 200-day simple moving average of $377.23. Broadcom has a 1 year low of $289.96 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating the consensus estimate of $3.22 by $0.10. Broadcom had a return on equity of 48.33% and a net margin of 42.94%.The firm had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same quarter in the previous year, the company posted $1.69 EPS. The company’s revenue for the quarter was up 85.5% compared to the same quarter last year. Equities analysts forecast that Broadcom will post 10.25 EPS for the current year.

Broadcom Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be issued a $0.65 dividend. The ex-dividend date is Monday, September 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is presently 33.21%.

Insider Activity at Broadcom

In other Broadcom news, Director Justine Page sold 1,602 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $373.86, for a total value of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mark Brazeal sold 25,000 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $401.33, for a total transaction of $10,033,250.00. Following the completion of the transaction, the insider owned 194,989 shares in the company, valued at $78,254,935.37. This represents a 11.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 61,644 shares of company stock worth $24,016,214. 1.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Broadcom

A number of large investors have recently modified their holdings of AVGO. Cornerstone Advisors LLC purchased a new position in Broadcom in the second quarter worth $92,522,000. Bank of America Corp DE increased its position in shares of Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock worth $18,179,719,000 after purchasing an additional 894,564 shares in the last quarter. Clear Harbor Asset Management LLC purchased a new stake in shares of Broadcom during the 2nd quarter valued at $3,302,000. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Broadcom by 129.3% during the 1st quarter. Bartlett & CO. Wealth Management LLC now owns 110,048 shares of the semiconductor manufacturer’s stock valued at $34,061,000 after purchasing an additional 62,050 shares during the last quarter. Finally, First Bank & Trust boosted its position in shares of Broadcom by 17.2% in the 2nd quarter. First Bank & Trust now owns 10,503 shares of the semiconductor manufacturer’s stock worth $3,968,000 after purchasing an additional 1,545 shares in the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Investor interest in Broadcom’s AI opportunity remains strong. AI semiconductor revenue surged 221% year over year to $16.7 billion, while management raised its AI revenue outlook to approximately $115 billion for fiscal 2027 and $230 billion for fiscal 2028. Several analysts and commentators view the selloff as a buying opportunity. The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story
• Positive Sentiment: Analysts continue to see substantial upside despite some target reductions. Truist maintained a buy rating with a $520 target, while other firms cited targets ranging from $575 to $600. Macquarie upgraded Broadcom to Outperform, citing strong custom-chip growth and reduced concerns about customers developing chips internally. These Analysts Increase Their Forecasts On Broadcom Following Upbeat Q3 Earnings
• Positive Sentiment: Unusual options activity provided another bullish trading signal: investors purchased roughly 373,000 call options, about 26% above average call volume. Broadcom also declared a quarterly dividend of $0.65 per share, payable September 30 to eligible shareholders.
• Neutral Sentiment: Broadcom beat quarterly expectations with adjusted earnings of $3.32 per share versus a $3.22 consensus and revenue of $29.59 billion. The company’s long-term AI demand commentary was strong, but investors are focused on whether supply, power, land and data-center construction constraints can limit near-term shipments. Broadcom CEO Says AI Demand Could Be Significantly Higher
• Negative Sentiment: The main pressure remains Broadcom’s fourth-quarter revenue outlook of $34.8 billion, slightly below Wall Street’s roughly $35.0 billion expectation. The modest guidance miss, concerns about margin compression and customer concentration—including major AI customers—caused the initial sell-the-news reaction despite excellent AI growth.
• Negative Sentiment: Third Point disclosed that it exited its remaining Broadcom position during the second quarter. Although the holding was relatively small, the sale adds to caution around elevated valuation and expectations for the AI-chip cycle.

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.