Broadcom is seeing renewed confidence from stock market analysts at Bank of America, who are maintaining a “buy” rating on the company’s shares with a price target of $2,150.00. Other analysts have also published positive reports on Broadcom, with Mizuho, Melius Research, Oppenheimer, Truist Financial, and Goldman Sachs Group all raising their price targets and giving the stock a “buy” rating. Overall, 26 analysts have given Broadcom a buy rating, with an average price target of $1,673.04.
On Monday, Broadcom’s stock fell to $1,631.64, with a trading volume of 1,312,634 shares. The company has a market capitalization of $759.51 billion and recently announced a 10-1 stock split. In its last quarterly earnings report, Broadcom exceeded analysts’ expectations with earnings of $10.96 per share and revenue of $12.49 billion. The company is expected to post EPS of 36.87 for the fiscal year.
Broadcom’s CFO recently sold shares of the company, as did other insiders, totaling $16,806,825. Institutional investors have shown interest in Broadcom, with several increasing their holdings in the company. Broadcom Inc. focuses on semiconductor devices and operates in two segments: semiconductor solutions and infrastructure software.
Overall, Broadcom is seeing positive ratings and price target increases from analysts, as well as interest from institutional investors. The company’s recent earnings report exceeded expectations, indicating strength in its financial performance.
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