Latest news with #MikeHarrison
Globe and Mail
3 days ago
- Business
- Globe and Mail
Broadcom Just Got a New Street-High Price Target. Should You Buy AVGO Stock Now?
Broadcom (AVGO) recently received a vote of confidence from Redburn Atlantic, which initiated coverage of the stock with a 'Buy' rating. The firm pointed to the company's strong position in application-specific integrated circuits (ASICs) as a key driver of long-term growth. Analyst Mike Harrison set a price target of $301, a new Street high. The bullish call adds to recent optimism around Broadcom, with recent price target hikes from Melius Research and Mizuho. Broadcom's fiscal first-quarter earnings showed a 25% jump in revenue year over year, with AI-related sales playing a growing role. As investor interest in AI and cloud infrastructure grows, analysts appear increasingly confident in Broadcom's ability to deliver sustained performance. About Broadcom Stock Broadcom (AVGO), headquartered in Palo Alto, California, is renowned for its diverse portfolio of semiconductor products, coupled with its infrastructure software solutions. Valued at $1,1 trillion, the company's shares have soared by 71% over the past 52 weeks, showcasing its resilience. Broadcom Surpasses on Fiscal Q1 Earnings On March 6, Broadcom released its fiscal Q1 2025 earnings, surpassing Wall Street's expectations. The company reported revenue of $14.9 billion, comfortably ahead of the $14.6 billion forecast and marking a 25% year-over-year jump. The sharp uptick was powered by artificial intelligence and infrastructure software, each clocking in growth well above 40%. AI revenue soared by 77%, reaching $4.1 billion. The infrastructure segment saw a 47% rise in revenue, reaching $6.7 billion during the quarter. The company's adjusted EBITDA climbed 40.9%, totaling $10.1 billion. Non-GAAP EPS surged by 45.5%, hitting $1.60, easily surpassing the forecast $1.51. Adding to the positive momentum, Broadcom's free cash flow increased by 28.1% to $6 billion. As a testament to their confidence in future growth, management also announced a $10 billion stock buyback program in early April, set to run through the end of the year. CEO Hock Tan has emphasized that this move underscores the board's trust in Broadcom's diversified product lineup. Looking ahead, management has projected fiscal Q2 2025 revenue to reach $14.9 billion, reflecting a 19% increase from the previous year. Meanwhile, analysts tracking Broadcom forecast Q2 EPS to grow 54% year-over-year to $1.34, and fiscal 2025 EPS to rise 53.9% from the prior to $5.71. What Do Analysts Expect for Broadcom Stock? Wall Street's sentiment toward AVGO is nothing short of bullish. Analysts are clearly betting on the company's momentum to continue, especially with tailwinds like AI and infrastructure software business growth adding fuel to the fire. The company will release its fiscal Q2 earings on June 5, which should also grab investor attention. The stock currently enjoys a 'Strong Buy' consensus, a reflection of widespread confidence in its performance trajectory. Among 33 analysts, 29 advocate a 'Strong Buy,' one has a 'Moderate Buy,' and three sit on the fence with a 'Hold.' The average price target of $243.86 represents minimal upside from current prices, while the Street-high price target of $301 suggests shares could gain 24% from here.
Yahoo
4 days ago
- Business
- Yahoo
Redburn Atlantic Initiates Broadcom (AVGO) at Buy With $301 Target, Citing AI Growth Potential
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 AI stocks on latest news and ratings. On May 28, Redburn-Atlantic began coverage on Broadcom Inc. (NASDAQ:AVGO) with a 'Buy' rating and set a price target of $301. Broadcom is a technology company uniquely positioned in the AI revolution owing to its custom chip offerings and networking assets. Redburn analyst Mike Harrison highlighted Broadcom as a leading ASIC co-partner with a strong customer pipeline. The company boasts a noteworthy presence in AI data centers, with the recent acquisition of VMware seen as a strategic move that strengthens its offerings in cloud and AI-related services. It also boosts its position in the private cloud market, particularly for Generation AI technologies. A technician working at a magnified microscope, developing a new integrated circuit. The firm forecasts Broadcom's revenue to be 6% above consensus estimates, driven by the company's strong market positioning and anticipated growth in the coming years. The company has demonstrated an impressive 40.3% revenue growth in the past twelve months and impressive gross profit margins of 76.3%. Overall, the firm views significant upside potential for Broadcom's stock. 'Broadcom is arguably the pre-eminent ASICs co-partner with a strong pipeline of future customers.' Overall, AVGO ranks 5th on our list of AI stocks on latest news and ratings. While we acknowledge the potential of AVGO as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AVGO and that has 100x upside potential, check out our report about this cheapest AI stock. 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.
India Today
25-04-2025
- Health
- India Today
Axiom-4 astronauts to test diabetes glucose monitor aboard Space Station
To enhance monitoring of glucose level, and diabetes in space, Axiom-4 astronauts will test Continuous Glucose Monitors (CGMs) during their mission aboard the International Space astronauts will launch on ISS aboard a SpaceX Dragon spacecraft piloted by Indian astronaut Shubhanshu Shukla in May 2025. The new CGMs have become the standard for glucose monitoring in individuals with diabetes on Earth and Burjeel Holdings, which develops the instrument now wants to test its efficiency in space so that they can be used on long-duration space The Suite Ride initiative involves flying and operating a suite of medical capabilities to further advancements in diabetes monitoring and treatment. Axiom Space's multi-tiered approach aims to eventually demonstrate that astronauts with insulin-dependent diabetes (IDDM) can be safely monitored, treated, and participate in off-planet Space has partnered with @BurjeelHoldings to test a suite of tools and technologies needed to support astronauts with insulin-dependent diabetes, enabling them to live and work in space. Learn more about the Suite Ride research that will be conducted during #Ax4: Axiom Space (@Axiom_Space) April 24, 2025Axiom Space said that comprehensive preflight, inflight, and post-flight protocols will employ various testing methods to validate these technologies. The Ax-4 mission also plans to look at insulin exposure in microgravity to assess the potency and stability of the drug product upon its return to technologies and advances that could result from this project could also improve our ability to provide remote care for patients with diabetes and other health conditions on Earth," Dr. Mike Harrison, chief medical officer at Axiom Space test is aimed at creating pathway for astronauts with IDDM to fly to space."The successful demonstration of glucose monitoring on subjects without diabetes will next open the door to flying astronauts with non-insulin-dependent Type 2 diabetes, looking to prove that people with diabetes can one day thrive in the unique environment of space," Axiom Space said in a In
