Rosenblatt Securities Reaffirms Buy Rating for Broadcom (NASDAQ:AVGO)

Broadcom (NASDAQ:AVGO)‘s stock had its “buy” rating reissued by 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 price objective would suggest a potential upside of 75.27% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on AVGO. Citigroup cut Broadcom from a “buy” rating to a “neutral” rating in a report on Tuesday. BNP Paribas Exane boosted their price target on Broadcom from $675.00 to $715.00 and gave the company an “outperform” rating in a research note on Friday, September 4th. HSBC lowered their price objective on Broadcom from $600.00 to $560.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. Fox Advisors raised Broadcom to an “outperform” rating in a report on Thursday, September 3rd. Finally, Truist Financial reduced their target price on shares of Broadcom from $550.00 to $520.00 and set a “buy” rating for the company in a research report on Thursday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $530.52.

Broadcom Stock Performance

Broadcom stock traded up $13.16 during midday trading on Tuesday, reaching $342.33. 25,159,107 shares of the company’s stock were exchanged, compared to its average volume of 24,815,760. Broadcom has a 52 week low of $289.96 and a 52 week high of $495.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.29 and a current ratio of 2.50. The firm has a market cap of $1.63 trillion, a price-to-earnings ratio of 43.72 and a beta of 1.46. The stock’s 50-day simple moving average is $356.76 and its 200 day simple moving average is $367.07.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (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 firm had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same quarter in the prior year, the company earned $1.69 earnings per share. The business’s revenue for the quarter was up 85.5% compared to the same quarter last year. On average, analysts expect that Broadcom will post 10.37 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Fullerton Advisors LLC lifted its holdings in shares of Broadcom by 1.3% in the first quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after purchasing an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its holdings in shares of Broadcom by 0.5% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock worth $1,656,000 after buying an additional 25 shares in the last quarter. Yukon Wealth Management Inc. grew its holdings in shares of Broadcom by 1.1% during the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock worth $774,000 after buying an additional 26 shares in the last quarter. NerdWallet Wealth Partners LLC grew its holdings in shares of Broadcom by 2.6% during the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock worth $399,000 after buying an additional 27 shares in the last quarter. Finally, Veery Capital LLC raised its position in Broadcom by 1.4% in the 2nd quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer’s stock valued at $718,000 after buying an additional 27 shares during the last quarter. 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-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.

Broadcom Company Profile

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.