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What Wall Street Analysts Think of Broadcom’s Stock Ahead of Earnings
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Main points
- Broadcom will report fourth-quarter earnings after the market close on Thursday.
- All 12 analysts covering Broadcom and tracked by Visible Alpha have a “buy” or equivalent rating on the stock.
- Broadcom is expected to rebound from the previous quarter, when it posted a loss due to merger-related charges.
Broadcom (AVGO) will release its fourth-quarter earnings report after the market closes on Thursday, and analysts are unanimously optimistic semiconductor manufacturer.
All 12 analysts covering Broadcom at Visible Alpha have a Buy or equivalent rating on the stock, with a consensus price target About $193. That’s about 8% higher than Broadcom’s Monday closing price of $178.94.
Analysts see revenue growth of 51%
Wall Street expects Broadcom to report income Net profit was US$14.06 billion, a year-on-year increase of 51%. Net profit was US$3.53 billion, or 76 cents per share, compared with US$3.52 billion, or 83 cents per share, in the same period last year.
Last quarter, Broadcom released Loss of US$1.88 billion Partly due to increased expenses related to the November 2023 acquisition Software company VMware.
Broadcom shares fell slightly on Monday but are set to rise 60% in 2024.
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