Mizuho Boosts Broadcom (NASDAQ:AVGO) Price Target to $1,900.00

Broadcom (NASDAQ:AVGOGet Free Report) had its price objective raised by research analysts at Mizuho from $1,625.00 to $1,900.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor manufacturer’s stock. Mizuho’s price objective would suggest a potential upside of 9.51% from the company’s current price.

AVGO has been the topic of several other research reports. Morgan Stanley restated an “overweight” rating and issued a $1,658.00 target price on shares of Broadcom in a report on Monday, June 10th. TD Cowen upgraded shares of Broadcom from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $1,400.00 to $1,500.00 in a report on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $1,500.00 price target on shares of Broadcom in a report on Wednesday. Evercore ISI started coverage on shares of Broadcom in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,620.00 price target on the stock. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $1,700.00 price target on shares of Broadcom in a report on Thursday, March 21st. Three research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,667.48.

Check Out Our Latest Analysis on AVGO

Broadcom Stock Up 3.3 %

Shares of NASDAQ AVGO opened at $1,735.04 on Thursday. Broadcom has a one year low of $795.09 and a one year high of $1,747.24. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.34 and a quick ratio of 1.24. The firm’s 50 day simple moving average is $1,360.12 and its two-hundred day simple moving average is $1,250.91. The stock has a market capitalization of $804.05 billion, a P/E ratio of 74.63, a PEG ratio of 2.99 and a beta of 1.17.

Broadcom shares are set to split before the market opens on Monday, July 15th. The 10-1 split was announced on Wednesday, June 12th. The newly issued shares will be distributed to shareholders after the market closes on Friday, July 12th.

Broadcom (NASDAQ:AVGOGet Free Report) last issued its earnings results on Wednesday, June 12th. The semiconductor manufacturer reported $10.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.78 by $0.18. Broadcom had a net margin of 24.10% and a return on equity of 43.01%. The firm had revenue of $12.49 billion for the quarter, compared to analysts’ expectations of $12.06 billion. During the same quarter last year, the business earned $9.51 earnings per share. The business’s revenue was up 43.0% on a year-over-year basis. As a group, analysts expect that Broadcom will post 36.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other Broadcom news, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the completion of the transaction, the chief executive officer now owns 168,096 shares of the company’s stock, valued at approximately $220,583,976. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Broadcom news, insider Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $1,344.00, for a total value of $6,720,000.00. Following the completion of the transaction, the insider now owns 16,575 shares of the company’s stock, valued at approximately $22,276,800. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Hock E. Tan sold 2,000 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $1,312.25, for a total value of $2,624,500.00. Following the sale, the chief executive officer now owns 168,096 shares of the company’s stock, valued at $220,583,976. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,770 shares of company stock valued at $36,242,096. 2.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Broadcom

Large investors have recently made changes to their positions in the company. Legend Financial Advisors Inc. grew its stake in shares of Broadcom by 72.7% during the 1st quarter. Legend Financial Advisors Inc. now owns 19 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 8 shares during the period. Stuart Chaussee & Associates Inc. bought a new stake in shares of Broadcom during the 4th quarter valued at about $25,000. Richardson Capital Management LLC bought a new stake in shares of Broadcom during the 1st quarter valued at about $29,000. Delta Asset Management LLC TN grew its stake in shares of Broadcom by 242.9% during the 1st quarter. Delta Asset Management LLC TN now owns 24 shares of the semiconductor manufacturer’s stock valued at $32,000 after acquiring an additional 17 shares during the period. Finally, PSI Advisors LLC grew its stake in shares of Broadcom by 66.7% during the 4th quarter. PSI Advisors LLC now owns 25 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 10 shares during the period. 76.43% of the stock is currently owned by institutional investors.

Broadcom Company Profile

(Get Free Report)

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.

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