Broadcom’s (AVGO) “Buy” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Broadcom (NASDAQ:AVGO) in a research note released on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a $600.00 price target on the semiconductor manufacturer’s stock.

Other equities research analysts also recently issued reports about the stock. Cantor Fitzgerald raised their price target on shares of Broadcom from $525.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, September 3rd. Morgan Stanley reiterated an “overweight” rating and set a $505.00 price objective (up from $502.00) on shares of Broadcom in a research report on Thursday, September 3rd. BNP Paribas Exane increased their price objective on shares of Broadcom from $675.00 to $715.00 and gave the company an “outperform” rating in a research note on Friday, September 4th. HSBC cut their target price on shares of Broadcom from $600.00 to $560.00 and set a “buy” rating on the stock in a research report on Thursday, September 3rd. Finally, William Blair cut shares of Broadcom from an “outperform” rating to a “market perform” rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, thirty-nine have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $530.52.

Broadcom Price Performance

Shares of AVGO stock opened at $345.00 on Tuesday. The business has a fifty day simple moving average of $353.57 and a 200 day simple moving average of $367.09. The company has a market cap of $1.65 trillion, a P/E ratio of 41.05 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 has a twelve month low of $289.96 and a twelve month high of $495.00.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, September 2nd. The semiconductor manufacturer reported $3.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.22 by $0.10. The firm 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 business’s revenue for the quarter was up 85.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.69 earnings per share. On average, sell-side analysts forecast that Broadcom will post 10.37 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $2.60 annualized dividend and a dividend yield of 0.8%. Broadcom’s dividend payout ratio is currently 33.21%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AVGO. Fullerton Advisors LLC grew its holdings in Broadcom by 1.3% during the 1st quarter. Fullerton Advisors LLC now owns 1,989 shares of the semiconductor manufacturer’s stock valued at $616,000 after buying an additional 25 shares in the last quarter. NORTHSTAR ASSET MANAGEMENT Co increased its position in shares of Broadcom by 0.5% during the first quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 5,350 shares of the semiconductor manufacturer’s stock valued at $1,656,000 after buying an additional 25 shares during the period. Yukon Wealth Management Inc. increased its position in shares of Broadcom by 1.1% during the first quarter. Yukon Wealth Management Inc. now owns 2,501 shares of the semiconductor manufacturer’s stock valued at $774,000 after buying an additional 26 shares during the period. NerdWallet Wealth Partners LLC lifted its holdings in shares of Broadcom by 2.6% in the second quarter. NerdWallet Wealth Partners LLC now owns 1,057 shares of the semiconductor manufacturer’s stock worth $399,000 after buying an additional 27 shares in the last quarter. Finally, Veery Capital LLC boosted its position in shares of Broadcom by 1.4% in the second quarter. Veery Capital LLC now owns 1,900 shares of the semiconductor manufacturer’s stock valued at $718,000 after acquiring an additional 27 shares during the period. Institutional investors own 76.43% of the company’s stock.

Key Headlines Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Analysts remain constructive: DA Davidson upgraded Broadcom to “Buy,” while Rosenblatt reaffirmed its Buy rating. The upgrades cite the company’s AI semiconductor momentum and long-term growth outlook. DA Davidson Upgrades Broadcom to Buy
• Positive Sentiment: Broadcom’s custom-chip opportunity continues to expand. One bullish outlook points to projected AI semiconductor revenue of approximately $115 billion in fiscal 2027 and $230 billion in fiscal 2028, supported by rising data-center and accelerator demand. The AI Boom Isn’t Over: 3 Stocks You Need to Watch
• Positive Sentiment: Meta’s planned AI financing and potential investment by major chip suppliers could support additional orders for Broadcom as Meta expands its data-center capacity. Why Meta’s $100 Billion Financing Plan Is a Boon for Broadcom
• Neutral Sentiment: The stock’s pullback from its record high has prompted some investors to view Broadcom as a more attractive entry point, although valuation remains dependent on continued exceptional AI growth. Broadcom: This Is Probably a Good Entry Point
• Negative Sentiment: The $63 billion Anthropic financing arrangement is raising concern about asset and credit risk. A special-purpose vehicle would purchase and lease Broadcom hardware, while Broadcom’s potential backstop exposure could reach roughly $43 billion if financing or asset values deteriorate. Broadcom’s Anthropic Deal and Potential Backstop
• Negative Sentiment: Broader concerns about AI spending are also weighing on sentiment. Rising interest rates, heavy borrowing for data centers and doubts about returns on massive capital expenditures could compress richly valued semiconductor stocks. Why Rising Rates Could Break the Bull Market

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.