In a report published Friday, Topeka Capital Markets analyst Suji De Silva initiated coverage on Broadcom Corporation BRCM with a Buy rating and $42.00 price target.
In the report, Topeka Capital Markets noted, “We are initiating coverage of Broadcom with a Buy rating and a $42.00 price target. BRCM has had a long history of steadily delivering very impressive product gross margins of ~50+%, even after adjusting for the benefit of licensing revenue. As a result of healthy operating leverage and efficient R&D spending, BRCM has consistently delivered operating margins north of 20%. We continue to expect BRCM to outgrow communications semiconductor end market growth.”
Broadcom Corporation closed on Thursday at $34.96.
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