Broadcom's Q4 Earnings Report: Analyst Predicts Strong AI, Weak Storage and Networking

Susquehanna's Christopher Rolland raised their price target on Broadcom (NASDAQ: AVGO) by 8.9% from $1,010 to $1,100 on 2023/11/28. The analyst maintained their Strong Buy rating on the stock.

Rolland predicts that while AI will be strong, Storage, Broadband, and Traditional Networking will be weak for Broadcom as it prepares to report its Q4 and FY 2023 earnings on December 7, 2023. This insight provides investors with an understanding of the analyst's expectations for the company's performance in the near term.

Additionally, Rolland expressed "high hopes" for Broadcom's integration plan and sees great potential in its partnership with VMware. These factors could potentially contribute to the company's future growth and success.

Currently, 92.9% of top-rated analysts rate AVGO as a Strong Buy or Buy, indicating widespread optimism among industry experts. Only 7.1% of analysts see it as a Hold, with no analysts recommending or strongly recommending selling the stock. This positive sentiment from analysts further bolsters confidence in Broadcom's prospects.

The consensus forecast among analysts is that AVGO's upcoming year will deliver earnings per share (EPS) of $39.68. If the analysts' predictions hold true, this would result in an 18.5% increase in AVGO's yearly EPS on a year-over-year basis. This forecast provides investors with a benchmark against which they can evaluate the company's financial performance.

In terms of stock performance, AVGO has shown remarkable growth over the past year, with an 82% increase. This outpaces the S&P 500, which has risen by 14.9% during the same period. Such strong stock performance indicates that investors have recognized and rewarded Broadcom's achievements in the market.

Christopher Rolland, the analyst behind this rating, is highly regarded within the industry. WallStreetZen ranks Rolland in the top 2% out of 4,414 Wall Street analysts, with an average return of 15.5% and a 56.6% win rate. Rolland specializes in the Technology and Industrials sectors, providing valuable insights into Broadcom's operations and industry dynamics.

Broadcom Inc., headquartered in San Jose, California, designs, develops, and supplies various semiconductor devices. The company has two main segments: Semiconductor Solutions and Infrastructure Software. Its product offerings span a wide range of applications, including networking, connectivity, telecommunications, and consumer electronics.

Want to get in touch? Email us at news@wallstreetzen.com.

WallStreetZen and Don Francis do not hold any positions in the companies mentioned in this article. The information and statistics provided herein are presented for general informational purposes only and may not be accurate, complete, or up-to-date. It should not be interpreted as a recommendation to buy or sell any stocks and should not be solely relied upon for making investment decisions. It does not take into account your financial situation or risk profile. All investors should conduct their own investment due diligence before buying a stock. WallStreetZen expressly disclaims any liability for the accuracy, reliability, or completeness of the analysts' information, price targets, ratings, or opinions.