Broadcom’s (AVGO) Overweight Rating Reaffirmed at KeyCorp

Broadcom (NASDAQ:AVGO)‘s stock had its “overweight” rating reiterated by stock analysts at KeyCorp in a research note issued to investors on Thursday, Benzinga reports. They currently have a $575.00 target price on the semiconductor manufacturer’s stock. KeyCorp’s target price suggests a potential upside of 56.57% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the company. Wall Street Zen cut Broadcom from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 18th. Mizuho upped their price target on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $515.00 target price (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. TD Cowen reiterated a “buy” rating and issued a $500.00 price target on shares of Broadcom in a report on Thursday, June 4th. Finally, Oppenheimer restated an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Twenty-nine analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $501.80.

Broadcom Trading Down 0.7%

Shares of AVGO stock opened at $367.24 on Thursday. The stock’s fifty day simple moving average is $384.15 and its 200 day simple moving average is $377.14. Broadcom has a twelve month low of $289.96 and a twelve month high of $495.00. The firm has a market capitalization of $1.75 trillion, a P/E ratio of 61.21, a P/E/G ratio of 0.71 and a beta of 1.44. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share for the quarter, beating analysts’ consensus estimates of $3.22 by $0.10. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The company had revenue of $29.59 billion for the quarter, compared to analyst estimates of $29.24 billion. During the same period last year, the firm earned $1.69 earnings per share. The firm’s revenue was up 85.5% on a year-over-year basis. As a group, sell-side analysts predict that Broadcom will post 10.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Gayla J. Delly sold 1,890 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $385.38, for a total transaction of $728,368.20. Following the completion of the transaction, the director directly owned 31,326 shares of the company’s stock, valued at approximately $12,072,413.88. This represents a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Justine Page sold 1,602 shares of the firm’s stock in a transaction that occurred on 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 owned 17,426 shares in the company, valued at approximately $6,514,884.36. This represents a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 61,644 shares of company stock valued at $24,016,214. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AVGO. ROSS JOHNSON & Associates LLC lifted its position in Broadcom by 1,320.0% in the 4th quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 66 shares in the last quarter. SWAN Capital LLC grew its holdings in Broadcom by 261.9% in the 4th quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after buying an additional 55 shares during the last quarter. Networth Advisors LLC lifted its holdings in shares of Broadcom by 546.2% during the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock worth $26,000 after buying an additional 71 shares during the last quarter. Harborfront Financial Group LLC bought a new stake in shares of Broadcom in the second quarter valued at approximately $38,000. Finally, Cherry Tree Wealth Management LLC grew its stake in shares of Broadcom by 44.9% in the fourth quarter. Cherry Tree Wealth Management LLC now owns 129 shares of the semiconductor manufacturer’s stock worth $45,000 after acquiring an additional 40 shares during the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom reported fiscal third-quarter revenue of approximately $29.6 billion, up 86% year over year, while non-GAAP earnings per share of $3.32 exceeded the $3.22 consensus estimate. Net income rose to $13.09 billion from $4.14 billion a year earlier. Broadcom third-quarter financial results
• Positive Sentiment: AI semiconductor revenue surged 221% year over year to $16.7 billion, reportedly increasing 54% sequentially. Broadcom also cited more than $30 billion in AI bookings, supporting the longer-term demand case for custom processors and networking infrastructure. Broadcom AI revenue report
• Positive Sentiment: Broadcom generated $13.7 billion in free cash flow and declared a quarterly dividend of $0.65 per share, reinforcing its cash-generation and shareholder-return profile. Broadcom dividend announcement
• Neutral Sentiment: Some market commentary continues to view Broadcom as a key beneficiary of AI infrastructure bottlenecks, particularly in networking and optical connectivity. Analysts remain broadly constructive, with reported price targets well above the current trading level, although those targets may not reflect the latest guidance.
• Negative Sentiment: Fiscal fourth-quarter revenue guidance of approximately $34.8 billion came in below estimates of roughly $35.0 billion to $35.03 billion. The modest shortfall overshadowed the earnings beat and raised questions about the pace of custom-chip growth, competition and whether hyperscaler AI spending can continue accelerating. Broadcom quarterly revenue forecast
• Negative Sentiment: Concerns about data-center financing and Google’s relationship with rival Marvell added pressure, while Broadcom’s high valuation leaves little room for an outlook that is merely strong rather than exceptional. Third Point’s reported exit from its Broadcom position and heavy insider selling may also weigh on sentiment, though neither necessarily reflects the company’s operating outlook. Stocks explaining the market

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.