Broadcom got at least four price target hikes from investment banks after the chipmaker hiked its Q4 revenue guidance and quarterly dividend, and announced a $1 billion share buyback plan. At its analyst day Tuesday, Broadcom (BRCM) said that it expects Q4 revenue of $2.08 billion to $2.15 billion, or about $2.11 billion at the midpoint, compared with prior guidance of $2 billion to $2.15 billion. Analysts polled by Thomson Reuters forecast $2.1
Broadcom late Tuesday reported Q3 earnings that exceeded Wall Street views as the chipmaker emphasized strength in its broadband, connectivity and infrastructure markets. Broadcom (BRCM) stock was up 6.5% in midday trading on the stock market today, near 40. Broadcom stock hit a 12-month high at 41.44 on Sept. 18. The Irvine, Calif.-based company’s Q4 revenue forecast, however, fell short of views. It forecast $2 billion to $2.15 billion. Analysts
Cowen and Co. boosted its target price for Broadcom (BRCM) on Thursday as the fabless chipmaker exits the cellular baseband business as part of a “broad corporate transformation” expected to drive earnings power and increase margins. Equity research firm Cowen raised its target price to 50 from 43 and maintained an outperform rating. Broadcom stock was down a fraction near 40 in midday trading on the stock market today. Cowen analyst Timothy