Broadcom (AVGO) Tops Q3 Estimates But Analysts Divided - Summit Downgrades to Hold While Credit Suisse Says Stock Undervalued

Broadcom Limited (AVGO) PT Raised to $590 at Susquehanna

Susquehanna analyst Christopher Rolland raised the price target on Broadcom Limited (NASDAQ: AVGO) to $590.00 (from $580.00) while maintaining a Positive rating.

The analyst commented, "On Thursday, September 2, Broadcom posted in-line results, but slightly better guidance driven by a foreseen reacceleration of enterprise. In Networking, strong results were underscored by routing from service providers (SP) in the expansion of 5G backhaul. Broadcom also highlighted share gains for Ethernet NICs within cloud. Looking ahead, cloud and SP revenues... More

Broadcom Limited (AVGO) PT Raised to $600 at Rosenblatt

Rosenblatt analyst Hans Mosesmann raised the price target on Broadcom Limited (NASDAQ: AVGO) to $600.00 (from $550.00) while maintaining a Buy rating following earnings.

The analyst commented, "Once again, Broadcom delivered a solid beat driven by broad based infrastructure silicon (in particular, networking and broadband), and enterprise software. The outlook for F4Q... More

Broadcom Limited (AVGO) PT Raised to $545 at Mizuho Securities

Mizuho Securities analyst Vijay Rakesh raised the price target on Broadcom Limited (NASDAQ: AVGO) to $545.00 (from $520.00) while maintaining a Buy rating.

The analyst commented, "AVGO reported an in-line JulQ and guided to a OctQ at $7.4B (consensus $7.2B), with GMs we estimate at 74.9%. AVGO noted... More

Broadcom Limited (AVGO) PT Raised to $585 at Citi

Citi analyst Christopher Danely raised the price target on Broadcom Limited (NASDAQ: AVGO) to $585.00 (from $528.00) while maintaining a Buy rating.... More

Broadcom Limited (AVGO) PT Raised to $575 at KeyBanc

KeyBanc analyst Weston Twigg raised the price target on Broadcom Limited (NASDAQ: AVGO) to $575.00 (from $565.00) while maintaining a Overweight rating.... More

Broadcom Limited (AVGO) PT Raised to $540 at Barclays

Barclays analyst Blayne Curtis raised the price target on Broadcom Limited (NASDAQ: AVGO) to $540.00 (from $525.00) while maintaining a Overweight rating.... More

UPDATE: Broadcom Limited (AVGO) PT Raised to $572 at Morgan Stanley as Guidance Increases on Smartphone Builds

(Updated - September 3, 2021 6:51 AM EDT)

Morgan Stanley analyst Joseph Moore raised the price target on Broadcom Limited (NASDAQ: AVGO) to $572.00 (from $555.00) after the company guided slightly higher, with a notable rebound in smartphone builds, strength in
networking and broadband offset by enterprise... More

Summit Insights Downgrades Broadcom Limited (AVGO) to Hold

Summit Insights analyst Kinngai Chan downgraded Broadcom Limited (NASDAQ: AVGO) from Buy to Hold.

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 $491.90 yesterday.

Broadcom (AVGO) Slips Despite Better Than Expected Q3 Results, Outlook

Broadcom (NASDAQ: AVGO) delivered better-than-expected Q3 results, with EPS of $6.96, beating the consensus estimate of $6.85, and 16% year-over-year growth in revenue to $6.78 billion, slightly above the consensus estimate of $6.74 billion.

According to Hock Tan, the President and CEO of the company, the... More

Broadcom (AVGO) Tops Q3 EPS by 11c

Broadcom (NASDAQ: AVGO) reported Q3 EPS of $6.96, $0.11 better than the analyst estimate of $6.85. Revenue for the quarter came in at $6.78 billion versus the consensus estimate of $6.74 billion.

GUIDANCE:

Broadcom sees Q4 2021 revenue of ~$7.35 billion, versus the consensus of $7.23 billion.

For earnings history and earnings-related data on Broadcom (AVGO) click here.