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Semiconductor manufacturer Avago Technologies (AVGO) suffered a price target cut Monday after its soon-to-be acquisition Broadcom (BRCM) offered Q3 guidance that fell slightly short of Wall Street’s forecast. For Q3, ending Sept. 15, Broadcom guided to $2.135 billion in revenue, just behind the consensus of 35 analysts polled by Thomson Reuters who forecast $2.166 billion. Broadcom reported its Q2 earnings in a press release Thursday rather than a Scalper1 News
Scalper1 News