Broadcom

Rosenblatt analyst Hans Mosesmann reiterates Broadcom with a Buy and maintains $1500 price target.

Barclays analyst Tom O’Malley reinstates Broadcom (NASDAQ:AVGO) with a Overweight and announces $1405 price target.

Bernstein analyst Stacy Rasgon maintains Broadcom with a Outperform and raises the price target from $1250 to $1600.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We bump our 12-month target to $1,600 from $1,500 on a P/E of 28.1x our CY 25 EPS view, above historical given accelerating growth/exposure to software and AI revenue. We keep our FY 24 (Oct.) EPS at $49.16 and FY 25 at $56.90. AVGO posts Jan-Q EPS of $10.99 vs. $10.33, beating the $10.42 consensus. Sales rose 34% (+11% ex. VMware), with Infrastructure Software +153% and Semiconductor Solutions +4%. Software bookings tripled seq. to $1.8B (seen rising to $3B in Apr-Q), on success in upgrading customers to its higher value VMware Cloud Foundation offering. We think AI semi momentum remains strong (quadrupled Y/Y), driven by its Ethernet and customer silicon businesses (combined $10B in FY 24 at 70-30 split), and more than offsetting protracted enterprise and telco

Broadcom is one of the most mentioned companies in the U.S. across all news items in the last 12 hours, according to Factiva data. Broadcom’s first-quarter profits missed Wall Street forecasts on deal-related costs as strong demand for AI-related products boosted semiconductor sales. The chip and software company said sales for the quarter were $11.96 billion, up 34% from the year before, because of its acquisition of software-maker VMware. The company made $1.33 billion in profit in the quarter, down from $3.78 billion the same period a year earlier and behind the expectations of a FactSet survey of analysts. Dow Jones & Co. owns Factiva.

Cantor Fitzgerald analyst C J Muse reiterates Broadcom (NASDAQ:AVGO) with a Overweight and maintains $1600 price target.

Broadcom Inc (NASDAQ:AVGO) shares were down on Friday, even after the company reported upbeat fourth-quarter results. The results came amid an exciting earnings season. Here are some key analyst takeaways from the release. JPMorgan On Broadcom Analyst Harlan Sur maintained an Overweight rating while lifting the price target from $1,550 to $1,700. Broadcom delivered better-than-expected quarterly results and reiterated its full-year outlook of $50 billion in revenues and 60% EBITDA margin, “on sustained momentum in semiconductors and solid growth in its mission critical software franchise,” Sur wrote in a note. “For its semiconductor business, the team saw accelerating demand for its AI solutions ($2.3B in the Jan-Qtr, up 50%+ Q/Q) which offset weakness in its core diversified semi business (ex-AI ~$5.1B down 12% Q/Q,” Sur added. Goldman Sachs On Broadcom Analyst Toshiya Hari maintained a Buy rating while bumping the price target from $1,325 to $1,550. Broadcom delivered “solid” results for

Broadcom (AVGO) is expected to see growth acceleration in the second half of the year as VMWare bookings are off to a strong start and the company’s artificial intelligence pipeline is “solid,” BofA Securities said Friday. Late Thursday, the chipmaker logged stronger-than-expected fiscal first-quarter results as it benefited from its VMware acquisition, completed in November, as well as AI demand. The company continues to project 2024 consolidated revenue advancing 40% year over year at $50 billion. Although the company held its outlook steady, the sales mix is shifting more towards AI, which is now pegged to top $10 billion, up from $7.5 billion estimated previously, BofA analyst Vivek Arya said in an emailed note. VMWare has seen a strong start to the year, with overall company software bookings set to almost double sequentially to $3 billion in the current quarter and VMWare sales seen increasing 10% every quarter, according to

Broadcom Inc. Announces First Quarter Fiscal Year 2024 Financial Results and Quarterly Dividend PR Newswire PALO ALTO, Calif., March 7, 2024 — Revenue of $11,961 million for the first quarter, up 34 percent from the prior year period — Cash from operations of $4,815 million for the first quarter, less capital expenditures of $122 million, resulted in $4,693 million of free cash flow, or 39 percent of revenue — GAAP net income of $1,325 million for the first quarter; Non-GAAP net income of $5,254 million for the first quarter — Adjusted EBITDA of $7,156 million for the first quarter, or 60 percent of revenue — GAAP diluted EPS of $2.84 for the first quarter; Non-GAAP diluted EPS of $10.99 for the first quarter — Quarterly common stock dividend of $5.25 per share — Repurchased and eliminated 7.7 million shares for $8,290 million — Fiscal 2024 annual revenue guidance of approximately

By Tae Kim Broadcom stock fell after the chip maker’s solid earnings results failed to satisfy investors. On Thursday, the semiconductor company reported adjusted earnings per share of $10.99 for the fiscal first quarter, topping the Wall Street consensus for $10.40 a share. Revenue came in at $11.96 billion, above expectations of $11.8 billion, according to FactSet. Broadcom also gave full-year revenue guidance of $50 billion, which is roughly inline with the Street consensus of $49.8 billion. The chip maker’s stock traded down 3% shortly after the release Thursday. This is breaking news. Read a preview of Broadcom earnings below and check back for more analysis soon. Chip investors are eager to hear the latest commentary from Broadcom about progress in its AI semiconductor business. Wall Street consensus estimates are for the company to report January quarter revenue of $11.8 billion with adjusted earnings per share of $10.40. Analyst estimates

By Ben Glickman Broadcom’s revenue rose more than expected in the fiscal first quarter as artificial intelligence continued to boost demand. The Palo Alto, Calif.-based semiconductor company reported a profit of $1.33 billion, or $2.84 a share, in the quarter ended Feb. 4, compared with $3.77 billion, or $8.80 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $7.94. Stripping out certain one-time items, adjusted per-share earnings came to $10.99, ahead of the $10.40 forecast by analysts, according to FactSet. Revenue rose 34% to $11.96 billion, beating the $11.79 billion expected by analysts polled by FactSet. Chief Executive Hock Tan said the company’s acquisition of VMware and strong demand for networking products in artificial intelligence data centers were both driving growth. Write to Ben Glickman at ben.glickman@wsj.com