What Wall Street Analysts Think of Broadcom’s Stock Ahead of Earnings

Key Takeaways

Broadcom (

AVGO

) will report fourth-quarter earnings after the market closes on Thursday, and analysts are uniformly bullish on the
semiconductor
manufacturer.

All 12 analysts who follow Broadcom tracked by Visible Alpha have a “buy” or equivalent rating for the stock, with a consensus
price target
of roughly $193. That’s about 8% higher than Broadcom’s $178.94 closing price Monday.

Revenue Seen 51% Higher by Analysts

Wall Street expects Broadcom to report
revenue
of $14.06 billion, up 51% year-over-year, net income of $3.53 billion, or 76 cents per share, compared with $3.52 billion, or 83 cents, a year earlier.

Last quarter, Broadcom posted a
loss of $1.88 billion
due in part to increased expenses related to its November 2023 acquisition of
software company VMware
.

Shares of Broadcom fell slightly Monday, but are up 60% in 2024.

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