Loading...
Loading...
Oppenheimer has published a research report on Broadcom Corporation
BRCM after attending the company's analyst day yesterday.
In the report, Oppenheimer writes "On Tuesday, BRCM held a well-attended analyst day focusing on key products and end-markets, as well as management's efforts to drive earnings growth. After the close, BRCM also provided updated guidance for the Dec. qtr, indicating that revs would increase to $1.9B (+5% Q/Q), at the upper-end of prior guidance ($1.8-$1.9B). Product gross margins are expected to decrease slightly (vs. prior flat guidance), while opex is expected to be up an additional $25M vs. prior guidance. We anticipate a modestly positive bias to Street estimates, but given heightened expectations running into the analyst day, we look for only a muted reaction."
Oppenheimer maintains its Perform rating on Broadcom Corporation, which closed yesterday at $44.98.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted In: Analyst ColorAnalyst Ratingsbroadcom corporationInformation TechnologyOppenheimerSemiconductors
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in