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

By
David Marino-Nachison
Full Bio
Before joining Investopedia, David Marino-Nachison was an editor at The Wall Street Journal focused mainly on daily markets and investing news. He also worked on The Journal’s publishing desk; as a writer and editor covering stocks at Barron’s; as an editor of features at MarketWatch; and on product development efforts at The Journal. 
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Updated September 04, 2024
11:49 AM EDT
Broadcom

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Key Takeaways

  • Semiconductor maker Broadcom is set to report its latest quarterly results after Thursday's closing bell.
  • Wall Street analysts are broadly bullish on the stock heading into the report.
  • The consensus price target on the stock is currently near $200, according to Visible Alpha.

Semiconductor maker Broadcom’s (AVGO) latest financial results, due Thursday after the closing bell, could highlight the week’s most anticipated corporate events. The numbers are set to land with the stock up nearly 40% this year—and Wall Street analysts broadly bullish on the shares. 

According to data as of Wednesday, 12 of the 13 analysts covering Broadcom tracked by Visible Alpha have "buy" or equivalent ratings on the stock. 

Their consensus price target of $192.96 represents a roughly 26% premium to Tuesday's close of $152.79. Analysts' price targets range from $173.50 to $210, according to Visible Alpha. 

Broadcom earlier this year split its shares 10-for-1. Here’s what you need to know about the chipmaker's upcoming fiscal third-quarter earnings report. 

Shares of Broadcom were down about 1% in recent trading Wednesday.

Update: This article was first published on Sept. 3, 2024. It has been updated to reflect fresh share-price and analyst estimate data.

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  1. Broadcom. "Broadcom Inc. to Announce Third Quarter Fiscal Year Financial Results."

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