What's Going On With Broadcom Stock Thursday? - Broadcom (NASDAQ:AVGO)

Broadcom Inc. (NASDAQ:AVGO) is in the spotlight Thursday ahead of third quarter earnings today after the market closes.

What To Know: Analysts estimate earnings per share of $1.65 and revenue of $15.83 billion. The company previously guided revenue of about $15.8 billion.

In the company’s second quarter, it reported earnings per share of $1.58, beating the consensus estimate of $1.56. In addition, Broadcom reported revenue of $15.00 billion, beating the consensus estimate of $14.99 billion.

The company has a strong history of beating estimates for both revenue and earnings per share in recent quarters.

Analyst Changes: Ahead of the earnings report, multiple analysts issued price target adjustments.

Piper Sandler analyst Harsh Kumar maintained an Overweight rating on Broadcom and raised the price target from $300 to $315.
UBS analyst Timothy Arcuri maintained a Buy rating on Broadcom and raised the price target from $290 to $345.
Oppenheimer analyst Rick Schafer maintained an Outperform rating on Broadcom and raised the price target from $305 to $325.
Morgan Stanley analyst Joseph Moore maintained an Overweight rating on Broadcom and raised the price target from $338 to $357.

The consensus price target for Broadcom is $345.71, with the lowest price target at $190.00 and the highest price target at $1950.00.

AVGO Price Action: At the time of writing, Broadcom stock is trading 0.85% higher at $304.95, according to data from Benzinga Pro.

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AVGOBroadcom Inc

$435.094.39%

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