Broadcom (NASDAQ:AVGO) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Broadcom (NASDAQ:AVGO) had its price objective lifted by stock analysts at JPMorgan Chase & Co. from $500.00 to $580.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 41.99% from the company’s previous close.

AVGO has been the subject of a number of other research reports. Citigroup restated a “buy” rating on shares of Broadcom in a report on Thursday. UBS Group set a $485.00 target price on shares of Broadcom in a report on Thursday. Evercore restated an “outperform” rating and set a $582.00 price target on shares of Broadcom in a research note on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $515.00 price target (up from $430.00) on shares of Broadcom in a research report on Thursday. Finally, Morgan Stanley set a $502.00 price objective on Broadcom in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Broadcom has an average rating of “Moderate Buy” and an average price target of $485.80.

Broadcom Price Performance

AVGO stock traded down $70.74 during mid-day trading on Thursday, reaching $408.49. The company’s stock had a trading volume of 43,667,153 shares, compared to its average volume of 24,955,875. The stock has a market cap of $1.93 trillion, a PE ratio of 79.76, a P/E/G ratio of 0.99 and a beta of 1.41. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. Broadcom has a fifty-two week low of $241.11 and a fifty-two week high of $495.00. The company’s 50 day moving average is $392.87 and its two-hundred day moving average is $361.19.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. The company had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. Broadcom’s quarterly revenue was up 47.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.58 EPS. Equities research analysts expect that Broadcom will post 9.91 EPS for the current year.

Insider Buying and Selling at Broadcom

In other news, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the completion of the sale, the insider directly owned 278,141 shares of the company’s stock, valued at approximately $89,450,145.60. The trade was a 15.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charlie B. Kawwas sold 10,000 shares of Broadcom stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the sale, the insider directly owned 787,184 shares of the company’s stock, valued at approximately $271,759,532.32. This trade represents a 1.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 324,282 shares of company stock worth $106,425,249. 1.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Broadcom

Institutional investors have recently modified their holdings of the company. Wealthquest Corp lifted its position in Broadcom by 14.4% in the first quarter. Wealthquest Corp now owns 5,649 shares of the semiconductor manufacturer’s stock valued at $1,748,000 after acquiring an additional 712 shares during the last quarter. Parallel Advisors LLC increased its stake in Broadcom by 2.5% in the first quarter. Parallel Advisors LLC now owns 109,497 shares of the semiconductor manufacturer’s stock valued at $33,890,000 after purchasing an additional 2,644 shares during the period. Blue Edge Capital LLC increased its stake in Broadcom by 2.6% in the first quarter. Blue Edge Capital LLC now owns 1,915 shares of the semiconductor manufacturer’s stock valued at $593,000 after purchasing an additional 49 shares during the period. Caerus Investment Advisors LLC increased its stake in shares of Broadcom by 39.5% during the first quarter. Caerus Investment Advisors LLC now owns 4,519 shares of the semiconductor manufacturer’s stock worth $1,399,000 after acquiring an additional 1,280 shares during the period. Finally, First Nebraska Trust Co acquired a new position in shares of Broadcom during the first quarter worth about $677,000. 76.43% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom posted record second-quarter revenue of $22.19 billion and adjusted EPS of $2.44, both above estimates, while AI semiconductor revenue more than doubled to $10.8 billion, underscoring continued demand for custom AI chips.
• Positive Sentiment: The company guided third-quarter revenue to about $29.4 billion, ahead of consensus, and several Wall Street firms raised price targets or reaffirmed bullish ratings, including Truist, TD Cowen, Rosenblatt, Cantor Fitzgerald, and Benchmark.
• Neutral Sentiment: Broadcom also announced a quarterly dividend of $0.65 per share, reinforcing its cash-generation profile and shareholder returns.
• Negative Sentiment: Despite the beat, Broadcom shares sold off sharply after the report as investors focused on what they saw as a softer-than-expected AI outlook and the possibility that the stock had already priced in near-perfect execution. Article Title
• Negative Sentiment: The broader semiconductor group is also being hit, with Micron, Marvell, AMD, and other chip names moving lower as traders reassess how much AI demand can accelerate from here. Article Title

About Broadcom

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.