Broadcom Inc. (NASDAQ:AVGO) is in the spotlight Thursday ahead of third quarter earnings today after the market closes.
What To Know: Analysts estimate earnings per share of $1.65 and revenue of $15.83 billion. The company previously guided revenue of about $15.8 billion.
In the company’s second quarter, it reported earnings per share of $1.58, beating the consensus estimate of $1.56. In addition, Broadcom reported revenue of $15.00 billion, beating the consensus estimate of $14.99 billion.
The company has a strong history of beating estimates for both revenue and earnings per share in recent quarters.
Analyst Changes: Ahead of the earnings report, multiple analysts issued price target adjustments.
- Piper Sandler analyst Harsh Kumar maintained an Overweight rating on Broadcom and raised the price target from $300 to $315.
- UBS analyst Timothy Arcuri maintained a Buy rating on Broadcom and raised the price target from $290 to $345.
- Oppenheimer analyst Rick Schafer maintained an Outperform rating on Broadcom and raised the price target from $305 to $325.
- Morgan Stanley analyst Joseph Moore maintained an Overweight rating on Broadcom and raised the price target from $338 to $357.
The consensus price target for Broadcom is $345.71, with the lowest price target at $190.00 and the highest price target at $1950.00.
See Also: 14 Analysts Have This To Say About Brinker International
AVGO Price Action: At the time of writing, Broadcom stock is trading 0.85% higher at $304.95, according to data from Benzinga Pro.
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