KeyCorp Increases Broadcom (NASDAQ:AVGO) Price Target to $275.00

Broadcom (NASDAQ:AVGO) had its target price hoisted by stock analysts at KeyCorp from $260.00 to $275.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. KeyCorp’s price target would indicate a potential upside of 46.80% from the stock’s current price.

A number of other equities research analysts also recently weighed in on AVGO. Benchmark reiterated a “buy” rating and issued a $255.00 target price on shares of Broadcom in a report on Friday. Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Broadcom in a research report on Friday. Piper Sandler lifted their price objective on shares of Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Mizuho increased their target price on shares of Broadcom from $245.00 to $260.00 and gave the company an “outperform” rating in a research report on Friday, January 10th. Finally, Susquehanna raised their price target on shares of Broadcom from $200.00 to $225.00 and gave the stock a “positive” rating in a research note on Friday, December 13th. Three equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, Broadcom currently has a consensus rating of “Moderate Buy” and an average target price of $227.44.

Broadcom Trading Up 4.4 %

Shares of AVGO stock traded up $7.88 on Friday, hitting $187.33. The company had a trading volume of 17,387,213 shares, compared to its average volume of 29,538,834. The stock’s 50-day moving average is $223.22 and its two-hundred day moving average is $192.55. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm has a market cap of $878.10 billion, a P/E ratio of 152.90, a P/E/G ratio of 2.29 and a beta of 1.01. Broadcom has a twelve month low of $119.76 and a twelve month high of $251.88.

Broadcom (NASDAQ:AVGO) last issued its quarterly earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. During the same quarter in the previous year, the company earned $0.98 EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities research analysts anticipate that Broadcom will post 5.38 earnings per share for the current fiscal year.

Insider Activity at Broadcom

In other Broadcom news, Director Eddy W. Hartenstein sold 4,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $229.64, for a total value of $918,560.00. Following the completion of the transaction, the director now directly owns 46,400 shares in the company, valued at approximately $10,655,296. This represents a 7.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harry L. You sold 6,540 shares of the business’s stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total transaction of $1,569,600.00. Following the transaction, the director now owns 30,450 shares in the company, valued at $7,308,000. This represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 in the last 90 days. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Canton Hathaway LLC bought a new stake in Broadcom in the 4th quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new stake in Broadcom during the fourth quarter valued at approximately $26,000. Sunbeam Capital Management LLC purchased a new stake in Broadcom during the fourth quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom in the fourth quarter worth approximately $30,000. Finally, Sellwood Investment Partners LLC purchased a new position in shares of Broadcom during the 4th quarter worth $32,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

About Broadcom

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.