Broadcom (NASDAQ:AVGO) Earns Buy Rating from Rosenblatt Securities

Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating restated by Rosenblatt Securities in a report released on Tuesday, Benzinga reports. They presently have a $600.00 target price on the semiconductor manufacturer’s stock. Rosenblatt Securities‘s price target would indicate a potential upside of 75.23% from the company’s current price.

AVGO has been the topic of several other reports. President Capital boosted their price objective on Broadcom from $520.00 to $546.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Lake Street Capital upgraded Broadcom to a “buy” rating in a research note on Thursday, September 3rd. The Goldman Sachs Group lifted their price target on shares of Broadcom from $525.00 to $540.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. Jefferies Financial Group started coverage on shares of Broadcom in a research report on Thursday, September 3rd. They issued a “buy” rating and a $550.00 price objective for the company. Finally, Bank of America dropped their target price on shares of Broadcom from $530.00 to $460.00 and set a “buy” rating for the company in a report on Thursday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and a consensus price target of $530.52.

Broadcom Stock Performance

NASDAQ AVGO traded up $13.25 on Tuesday, hitting $342.42. 17,246,871 shares of the company traded hands, compared to its average volume of 24,812,934. The company has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 43.73 and a beta of 1.46. The company has a current ratio of 2.50, a quick ratio of 2.29 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average price is $356.76 and its 200-day moving average price is $367.07. Broadcom has a 52-week low of $289.96 and a 52-week high of $495.00.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 EPS 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 business had revenue of $29.59 billion for the quarter, compared to the consensus estimate of $29.24 billion. During the same period in the previous year, the business earned $1.69 earnings per share. The business’s revenue was up 85.5% on a year-over-year basis. Equities analysts expect that Broadcom will post 10.37 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Advisors LLC acquired a new position in shares of Broadcom during the 2nd quarter worth $92,522,000. GAMMA Investing LLC grew its position 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 worth $55,889,000 after buying an additional 13,317 shares during the period. ANB Bank acquired a new stake in shares of Broadcom during the 3rd quarter worth approximately $1,181,000. Bank of America Corp DE lifted its stake in Broadcom by 1.5% in the first 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 buying an additional 894,564 shares in the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in Broadcom in the second quarter valued at approximately $3,302,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Anthropic-related financing highlights potential demand for Broadcom hardware. Bank of America, Blackstone, Citigroup and Morgan Stanley reportedly committed to a $63 billion financing vehicle that would purchase Broadcom’s custom AI accelerators and networking equipment and lease it to Anthropic. The structure could provide substantial revenue visibility and reinforces Broadcom’s role in Anthropic’s expected public offering. Broadcom Anthropic financing article
• Positive Sentiment: D.A. Davidson upgraded AVGO to Buy and raised its price target to $400 from $350. The firm cited sustained AI infrastructure spending and the potential for upcoming AI-company IPOs to support demand. Other coverage characterized Anthropic’s IPO filing as reducing uncertainty around Broadcom’s AI growth outlook. Broadcom analyst price target article
• Positive Sentiment: Anthropic’s filing indicates a large, long-term infrastructure opportunity. The AI developer disclosed approximately $224.5 billion in non-cancelable compute agreements with Amazon and Alphabet. Broadcom could benefit as those cloud providers expand custom silicon, accelerators and networking capacity, while the company’s recent AI revenue growth has exceeded 200% year over year. Anthropic IPO infrastructure opportunity article
• Neutral Sentiment: Broadcom also announced security enhancements for TrueSource Spring Enterprise. The product update, including fixes for 89 vulnerabilities, supports the infrastructure-software business but is unlikely to be the primary driver of the stock’s move. Broadcom TrueSource announcement
• Negative Sentiment: Investors remain focused on execution and financing risks. Reports noted that lenders had initially expressed reservations about the Anthropic structure, while analysts continue to debate whether Broadcom’s AI growth is fully reflected in its valuation. Alphabet’s use of additional TPU suppliers also raises competitive concerns.
• Negative Sentiment: Insider selling and open-ended guarantees add caution. Broadcom insiders reportedly made substantially more sales than purchases over the past six months, and commentary about potentially uncapped off-balance-sheet guarantees could increase financial risk if AI infrastructure demand weakens.

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.