Latest news with #BroadcomInc
Yahoo
3 hours ago
- Business
- Yahoo
Analysts Stay Bullish on Broadcom (AVGO), Citing Recovery Potential and AI Tailwinds
We recently published a list of . In this article, we are going to take a look at where Broadcom Inc. (NASDAQ:AVGO) stands against other trending AI stocks on Wall Street right now. On June 3rd, Citi reiterated Broadcom Inc. (NASDAQ:AVGO) as 'Overweight' and raised its price target on the stock to $276 from the previous $210 ahead of earnings on Thursday. The reaffirmation from Citi reflects its continued confidence in Broadcom's market position and growth prospects. A technician working at a magnified microscope, developing a new integrated circuit. Broadcom is scheduled to announce its results for the second quarter of Fiscal 2025 on Thursday, June 5, after the market closes. The firm has highlighted artificial intelligence tailwinds for the stock. 'With its non-AI semi business down roughly 40% from the peak, we believe the business should recover from the current levels and offset most of the gross margin dilution from its AI business. We raise our estimates, reiterate our Buy rating on AVGO and raise our price target from $210 to $276.' In other news, Seaport also reiterated Broadcom as 'Buy,' stating that it's sticking with the stock heading into earnings on Thursday. Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
10 hours ago
- Business
- Yahoo
Broadcom (AVGO) Stock Hits All-Time High on AI Chip Breakthrough
June 4 - Broadcom (NASDAQ:AVGO) shares climbed more than 3% on Tuesday, touching a new all-time high after the chipmaker started shipping its next-generation Tomahawk 6 switch chips. List of 52-Week Lows List of 3-Year Lows List of 5-Year Lows The company described the chip as its most advanced to date, designed to enhance data center speed and power efficiency, features seen as increasingly vital for artificial intelligence applications. Tomahawk 6 is said to deliver double the bandwidth of existing Ethernet switches, with early feedback pointing to strong industry interest. Wall Street appeared to welcome the update ahead of Broadcom's fiscal second-quarter results set for release on June 5. Analysts polled by FactSet expect earnings of $1.57 per share on revenue near $15 billion. Citi analyst Christopher Danely, who recently boosted his price target on Broadcom to $276 from $210, said the chip could set a new standard for AI infrastructure performance. The announcement comes amid a broader rally in semiconductor stocks, driven by accelerating investment in AI hardware and cloud infrastructure. Based on the one year price targets offered by 36 analysts, the average target price for Broadcom Inc is $243.29 with a high estimate of $301.15 and a low estimate of $171.60. The average target implies a downside of -5.28% from the current price of $256.85. Based on GuruFocus estimates, the estimated GF Value for Broadcom Inc in one year is $150.22, suggesting a downside of -41.51% from the current price of $256.85. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. For deeper insights, visit the Forecast page. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
18 hours ago
- Business
- Yahoo
Broadcom Inc. (AVGO) Soars to 52-Week High, Time to Cash Out?
Have you been paying attention to shares of Broadcom Inc. (AVGO)? Shares have been on the move with the stock up 28.4% over the past month. The stock hit a new 52-week high of $257.88 in the previous session. Broadcom Inc. has gained 10.8% since the start of the year compared to the -0.3% move for the Zacks Computer and Technology sector and the 4% return for the Zacks Electronics - Semiconductors industry. The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on March 6, 2025, Broadcom Inc. reported EPS of $1.6 versus consensus estimate of $1.5 while it beat the consensus revenue estimate by 2.03%. For the current fiscal year, Broadcom Inc. is expected to post earnings of $6.63 per share on $62.49 billion in revenues. This represents a 36.14% change in EPS on a 21.18% change in revenues. For the next fiscal year, the company is expected to earn $7.88 per share on $72.82 billion in revenues. This represents a year-over-year change of 18.8% and 16.53%, respectively. Broadcom Inc. may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself. On this front, we can look at the Zacks Style Scores, as these give investors a variety of ways to comb through stocks (beyond looking at the Zacks Rank of a security). These styles are represented by grades running from A to F in the categories of Value, Growth, and Momentum, while there is a combined VGM Score as well. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style. Broadcom Inc. has a Value Score of D. The stock's Growth and Momentum Scores are A and B, respectively, giving the company a VGM Score of B. In terms of its value breakdown, the stock currently trades at 38.7X current fiscal year EPS estimates, which is a premium to the peer industry average of 23.8X. On a trailing cash flow basis, the stock currently trades at 42.9X versus its peer group's average of 16.9X. Additionally, the stock has a PEG ratio of 2.03. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective. We also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Broadcom Inc. currently has a Zacks Rank of #2 (Buy) thanks to rising earnings estimates. Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Broadcom Inc. fits the bill. Thus, it seems as though Broadcom Inc. shares could still be poised for more gains ahead. Shares of AVGO have been soaring, and the company still appears to be a decent choice, but what about the rest of the industry? One industry peer that looks good is Nova Ltd. (NVMI). NVMI has a Zacks Rank of # 2 (Buy) and a Value Score of C, a Growth Score of A, and a Momentum Score of C. Earnings were strong last quarter. Nova Ltd. beat our consensus estimate by 4.81%, and for the current fiscal year, NVMI is expected to post earnings of $8.47 per share on revenue of $863.7 million. Shares of Nova Ltd. have gained 8.2% over the past month, and currently trade at a forward P/E of 24.77X and a P/CF of 29.99X. The Electronics - Semiconductors industry is in the top 33% of all the industries we have in our universe, so it looks like there are some nice tailwinds for AVGO and NVMI, even beyond their own solid fundamental situation. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Broadcom Inc. (AVGO) : Free Stock Analysis Report Nova Ltd. (NVMI) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
21 hours ago
- Business
- Yahoo
Broadcom (AVGO) Stock Hits All-Time High on AI Chip Breakthrough
June 4 - Broadcom (NASDAQ:AVGO) shares climbed more than 3% on Tuesday, touching a new all-time high after the chipmaker started shipping its next-generation Tomahawk 6 switch chips. List of 52-Week Lows List of 3-Year Lows List of 5-Year Lows The company described the chip as its most advanced to date, designed to enhance data center speed and power efficiency, features seen as increasingly vital for artificial intelligence applications. Tomahawk 6 is said to deliver double the bandwidth of existing Ethernet switches, with early feedback pointing to strong industry interest. Wall Street appeared to welcome the update ahead of Broadcom's fiscal second-quarter results set for release on June 5. Analysts polled by FactSet expect earnings of $1.57 per share on revenue near $15 billion. Citi analyst Christopher Danely, who recently boosted his price target on Broadcom to $276 from $210, said the chip could set a new standard for AI infrastructure performance. The announcement comes amid a broader rally in semiconductor stocks, driven by accelerating investment in AI hardware and cloud infrastructure. Based on the one year price targets offered by 36 analysts, the average target price for Broadcom Inc is $243.29 with a high estimate of $301.15 and a low estimate of $171.60. The average target implies a downside of -5.28% from the current price of $256.85. Based on GuruFocus estimates, the estimated GF Value for Broadcom Inc in one year is $150.22, suggesting a downside of -41.51% from the current price of $256.85. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. For deeper insights, visit the Forecast page. This article first appeared on GuruFocus.
Yahoo
21 hours ago
- Business
- Yahoo
Broadcom (AVGO) Stock Hits All-Time High on AI Chip Breakthrough
June 4 - Broadcom (NASDAQ:AVGO) shares climbed more than 3% on Tuesday, touching a new all-time high after the chipmaker started shipping its next-generation Tomahawk 6 switch chips. List of 52-Week Lows List of 3-Year Lows List of 5-Year Lows The company described the chip as its most advanced to date, designed to enhance data center speed and power efficiency, features seen as increasingly vital for artificial intelligence applications. Tomahawk 6 is said to deliver double the bandwidth of existing Ethernet switches, with early feedback pointing to strong industry interest. Wall Street appeared to welcome the update ahead of Broadcom's fiscal second-quarter results set for release on June 5. Analysts polled by FactSet expect earnings of $1.57 per share on revenue near $15 billion. Citi analyst Christopher Danely, who recently boosted his price target on Broadcom to $276 from $210, said the chip could set a new standard for AI infrastructure performance. The announcement comes amid a broader rally in semiconductor stocks, driven by accelerating investment in AI hardware and cloud infrastructure. Based on the one year price targets offered by 36 analysts, the average target price for Broadcom Inc is $243.29 with a high estimate of $301.15 and a low estimate of $171.60. The average target implies a downside of -5.28% from the current price of $256.85. Based on GuruFocus estimates, the estimated GF Value for Broadcom Inc in one year is $150.22, suggesting a downside of -41.51% from the current price of $256.85. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. For deeper insights, visit the Forecast page. This article first appeared on GuruFocus.
