Broadcom’s (AVGO) “Buy” Rating Reaffirmed at Rosenblatt Securities

Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reissued by stock analysts at Rosenblatt Securities in a note issued to investors on Tuesday, Benzinga reports. They presently have a $600.00 price target on the semiconductor manufacturer’s stock. Rosenblatt Securities‘s price objective would suggest a potential upside of 75.23% from the stock’s previous close.

A number of other analysts have also weighed in on AVGO. Royal Bank Of Canada began coverage on Broadcom in a research note on Thursday, September 3rd. They issued an “outperform” rating on the stock. President Capital boosted their price target on Broadcom from $520.00 to $546.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. HC Wainwright started coverage on shares of Broadcom in a research report on Tuesday. They set a “buy” rating for the company. William Blair cut Broadcom from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Piper Sandler assumed coverage on shares of Broadcom in a research report on Wednesday, September 9th. They set an “overweight” rating and a $460.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $530.52.

Broadcom Price Performance

Shares of AVGO traded up $13.25 during mid-day trading on Tuesday, reaching $342.42. 16,891,181 shares of the stock traded hands, compared to its average volume of 24,812,934. Broadcom has a 1 year low of $289.96 and a 1 year high of $495.00. The firm has a fifty day moving average price of $356.76 and a 200 day moving average price of $367.07. The company has a market cap of $1.63 trillion, a price-to-earnings ratio of 43.68 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.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $29.24 billion. During the same quarter last year, the firm earned $1.69 EPS. The company’s revenue was up 85.5% on a year-over-year basis. As a group, equities research analysts predict that Broadcom will post 10.37 earnings per share for the current year.

Hedge Funds Weigh In On Broadcom

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cornerstone Advisors LLC bought a new position in Broadcom in the second quarter valued at approximately $92,522,000. GAMMA Investing LLC grew its position in 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 acquiring an additional 13,317 shares during the last quarter. ANB Bank acquired a new stake in Broadcom during the 3rd quarter worth approximately $1,181,000. Bank of America Corp DE increased its position in Broadcom by 1.5% in 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 acquiring an additional 894,564 shares during the period. Finally, Clear Harbor Asset Management LLC acquired a new position in shares of Broadcom during the second quarter worth $3,302,000. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

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.