By Vuk Zdinjak
Publication Date: 2026-05-21 02:47:00
Broadcom (AVGO) stock closed the May 19 trading session at $411.07, or 6.5% lower compared to its highest-ever closing price of $439.79 on May 14, according to Yahoo Finance.
The drop happened despite several analyst upgrades.
Wells Fargo and TD Cowen both raised their price targets.
Wells Fargo reiterated an overweight (buy) rating and raised its price target for Broadcom to $545 from $430.
TD Cowen reiterated a buy rating for Broadcom stock and raised the price target to $500 from $405.
UBS reiterated a buy rating and raised its price target to $490 from $475, according to Yahoo Finance.
Despite this price hike, UBS analysts also issued a strong warning about semiconductor stocks, including Broadcom, Proactive reported.
In addition to this warning about semiconductor stocks being a crowded long, most semiconductor stocks dipped on May 15.
A possible cause of this sell-off was President Donald Trump’s meeting with Chinese leader Xi Jinping, which ended…
