Broadcom Inc. (NASDAQ:AVGO) is in the spotlight ahead Tuesday ahead of third quarter earnings Thursday after the market closes.
What To Know: Analysts estimate earnings per share of $1.65 and revenue of $15.83 billion. In the second quarter, the company reported revenue of $15.00 billion, beating the consensus estimate of $14.99 billion and earnings er share of $1.58, beating the consensus estimate of $1.56.
In recent quarters, Broadcom has a strong history of beating the consensus estimate for both earnings per share and revenue.
Analyst Changes: Ahead of the earnings report, multiple analysts issued price target adjustments.
- Morgan Stanley analyst Joseph Moore maintained an Overweight rating on Broadcom and raised the price target from $338 to $357.
- Oppenheimer analyst Rick Schafer maintained an Outperform rating on Broadcom and raised the price target from $305 to $325.
- UBS analyst Timothy Arcuri maintained a Buy rating on Broadcom and raised the price target from $290 to $345.
- Piper Sandler analyst Harsh Kumar maintained an Overweight rating on Broadcom and raised the price target from $300 to $315.
The consensus price target for Broadcom is $345.71, with the highest price target at $1950.00 and the lowest price target at $190.00.
AVGO Price Action: At the time of writing, Broadcom stock is roughly flat at $295.87, according to data from Benzinga Pro.
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