Longbow Research Reiterates Neutral Rating on Broadcom Limited (AVGO)

March 15, 2019 7:01 AM

Longbow Research analyst, Shawn Harrison, reiterated a Neutral rating on Broadcom Limited (NASDAQ: AVGO). AVGO reiterated FY19 guidance for sales of $24.5B, a 51.0% non-GAAP EBIT margin, and $10B of FCF.

AVGO continues to see mid/high band PAD share recovery in the iPhone vs. QRVO. AVGO is also bullish on RF content growth for FY19 ahead of 5G given the adoption of more FBAR frequency bands, Wi-Fi 6, and other products, which is a positive for peers.

For an analyst ratings summary and ratings history on Broadcom Limited click here. For more ratings news on Broadcom Limited click here.

Shares of Broadcom Limited closed at $268.20 yesterday.

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