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

Broadcom (NASDAQ:AVGO) had its price target boosted by equities research analysts at JPMorgan Chase & Co. from $210.00 to $250.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the semiconductor manufacturer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 12.46% from the stock’s previous close.

Several other research firms also recently weighed in on AVGO. Morgan Stanley boosted their target price on Broadcom from $180.00 to $233.00 and gave the company an “overweight” rating in a report on Friday. Susquehanna raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research report on Friday. Hsbc Global Res raised shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. TD Cowen raised their price objective on shares of Broadcom from $210.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Mizuho upped their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and twenty-four have given a buy 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 $220.33.

Broadcom Stock Performance

NASDAQ:AVGO traded up $41.64 during midday trading on Friday, hitting $222.30. The company’s stock had a trading volume of 82,060,184 shares, compared to its average volume of 29,283,652. Broadcom has a fifty-two week low of $104.15 and a fifty-two week high of $222.55. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.04 and a quick ratio of 0.94. The firm has a market cap of $1.04 trillion, a P/E ratio of 193.14, a P/E/G ratio of 2.15 and a beta of 1.13. The firm’s 50 day moving average is $173.65 and its 200-day moving average is $163.86.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, December 12th. The semiconductor manufacturer reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 10.88% and a return on equity of 30.12%. The company had revenue of $14.05 billion during the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. Broadcom’s quarterly revenue was up 51.2% on a year-over-year basis. Equities analysts anticipate that Broadcom will post 3.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Broadcom news, insider Charlie B. Kawwas sold 15,950 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total transaction of $2,893,968.00. Following the transaction, the insider now owns 737,330 shares of the company’s stock, valued at $133,781,155.20. The trade was a 2.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark David Brazeal sold 20,280 shares of Broadcom stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $177.10, for a total transaction of $3,591,588.00. Following the completion of the transaction, the insider now directly owns 399,460 shares of the company’s stock, valued at approximately $70,744,366. This trade represents a 4.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last quarter. 2.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Broadcom in the 2nd quarter valued at $128,000. Mark Sheptoff Financial Planning LLC bought a new stake in Broadcom during the 2nd quarter worth approximately $136,000. American Capital Advisory LLC acquired a new stake in Broadcom in the second quarter valued at $169,000. Semus Wealth Partners LLC acquired a new position in shares of Broadcom in the second quarter worth approximately $202,000. Finally, Palisades Hudson Asset Management L.P. acquired a new stake in shares of Broadcom during the second quarter worth $204,000. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.