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What Wall Street Analysts Think of Broadcom's Stock Ahead of Earnings
Key Takeaways
Broadcom ( AVGO ) will report fourth-quarter earnings after the market closes on Thursday, and analysts are uniformly bullish on the semiconductor manufacturer.
All 12 analysts who follow Broadcom tracked by Visible Alpha have a “buy” or equivalent rating for the stock, with a consensus price target of roughly $193. That’s about 8% higher than Broadcom’s $178.94 closing price Monday.
Revenue Seen 51% Higher by Analysts
Wall Street expects Broadcom to report revenue of $14.06 billion, up 51% year-over-year, net income of $3.53 billion, or 76 cents per share, compared with $3.52 billion, or 83 cents, a year earlier.
Last quarter, Broadcom posted a loss of $1.88 billion due in part to increased expenses related to its November 2023 acquisition of software company VMware .
Shares of Broadcom fell slightly Monday, but are up 60% in 2024.
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