Broadcom (NASDAQ:AVGO) Stock Rating Reaffirmed as “Buy” by Rosenblatt Securities

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

A number of other equities analysts have also weighed in on AVGO. Truist Financial dropped their price target 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. Wall Street Zen cut shares of Broadcom from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 18th. President Capital boosted their price target on shares of Broadcom from $520.00 to $546.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Evercore set a $578.00 target price on shares of Broadcom and gave the company an “outperform” rating in a report on Thursday, September 3rd. Finally, Fox Advisors upgraded shares of Broadcom to an “outperform” rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a Strong Buy rating, thirty-nine have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Broadcom presently has an average rating of “Moderate Buy” and a consensus price target of $530.52.

Broadcom Stock Up 4.0%

Broadcom stock traded up $13.25 during midday trading on Tuesday, hitting $342.42. 16,891,181 shares of the stock were exchanged, compared to its average volume of 24,812,934. Broadcom has a 52-week low of $289.96 and a 52-week high of $495.00. The business’s 50-day moving average price is $356.76 and its 200-day moving average price is $367.07. The stock has a market capitalization of $1.63 trillion, a price-to-earnings ratio of 43.68 and a beta of 1.46. The company has a quick ratio of 2.29, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings data 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. The business had revenue of $29.59 billion for the quarter, compared to analysts’ expectations of $29.24 billion. Broadcom had a return on equity of 48.33% and a net margin of 42.94%. The firm’s quarterly revenue was up 85.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.69 EPS. On average, research analysts expect that Broadcom will post 10.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Broadcom

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AVGO. Cornerstone Advisors LLC purchased a new stake in Broadcom in the 2nd quarter worth approximately $92,522,000. GAMMA Investing LLC grew its position in shares of Broadcom by 8.8% in the 3rd quarter. GAMMA Investing LLC now owns 164,015 shares of the semiconductor manufacturer’s stock valued at $55,889,000 after purchasing an additional 13,317 shares during the period. ANB Bank bought a new stake in Broadcom during the third quarter worth $1,181,000. Bank of America Corp DE lifted its position in Broadcom by 1.5% during the first quarter. Bank of America Corp DE now owns 58,737,097 shares of the semiconductor manufacturer’s stock worth $18,179,719,000 after acquiring an additional 894,564 shares during the last quarter. Finally, Clear Harbor Asset Management LLC acquired a new position in Broadcom in the second quarter valued at about $3,302,000. 76.43% of the stock is owned by institutional investors.

Broadcom News Summary

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.