Broadcom Earnings Are Imminent; These Most Accurate Analysts Revise Forecasts Ahead Of Earnings Call

Broadcom Inc. AVGO is set to release second-quarter financial results, after the closing bell on Wednesday.

Analysts expect the Palo Alto, California-based company to report quarterly earnings at $10.80 per share, up from $10.32 per share in the year-ago period. Broadcom is expected to post revenue of $12.03 billion, according to data from Benzinga Pro.

On May 20, Broadcom announced its latest portfolio of highly-scalable, high-performing, low-power 400G PCIe Gen 5.0 Ethernet adapters for the data center ecosystem.

Broadcom shares rose 2.4% to close at $1,440.47 on Monday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let's have a look at how Benzinga's most-accurate analysts have rated the company in the recent period.

• Jefferies analyst Blayne Curtis assumed coverage on the stock with a Buy rating and lowered the price target from $1,616 to $1,550 on May 13. This analyst has an accuracy rate of 76%.
• TD Cowen analyst Matthew Ramsay upgraded the stock from Market Perform to Outperform rating and boosted the price target from $1,400 to $1,500 on March 21. This analyst has an accuracy rate of 77%.
• Citigroup analyst Christopher Danely maintained a Buy rating and increased the price target from $1,100 to $1,560       on March 11. This analyst has an accuracy rate of 80%.
• Goldman Sachs analyst Toshiya Hari maintained a Buy rating and boosted the price target from $1,325 to $1,550 on March 11. This analyst has an accuracy rate of 83%.
• Baird analyst Tristan Gerra maintained an Outperform rating and raised the price target from $1,265 to $1,550 on March 11. This analyst has an accuracy rate of 72%.

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