Broadcom Analysts Increase Their Forecasts After Q4 Earnings

Broadcom Inc. AVGO reported upbeat earnings for its fourth quarter and increased its quarterly dividend by 14% to $5.25.

Broadcom reported quarterly earnings of $11.06 per share, exceeding analyst expectations of $10.98, a 5.84% increase over earnings of $10.45 per share from last year. The company reported quarterly sales of $9.29 billion, missing the Street's estimate of $9.41 billion, according to Benzinga Pro.

The company also said it sees full-year 2024 revenue of approximately $50 billion.

Broadcom shares fell 0.3% to trade at $919.28 on Friday.

These analysts made changes to their price targets on Broadcom following earnings announcement.

  • Rosenblatt raised the price target on Broadcom from $1,000 to $1,160. Rosenblatt analyst Hans Mosesmann maintained a Buy rating.
  • TD Cowen increased the price target on Broadcom from $900 to $1,000. TD Cowen analyst Matthew Ramsay maintained a Market Perform rating.
  • Summit Insights Group analyst Kinngai Chan upgraded Broadcom from Hold to Buy.

 

Check This Out: Insiders Buying Bristol-Myers Squibb And 3 Other Stocks

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidancePrice TargetMarketsAnalyst RatingsTrading IdeasPT Changes
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!