Broadcom, the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Joshua Buchalter from TD Cowen maintained a Buy rating on the stock and has a $370.00 price target.
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Joshua Buchalter has given his Buy rating due to a combination of factors, including Broadcom’s robust performance and promising future prospects. The company has shown strong results, particularly with the start of the TPU v7 ramp, which aligns with investor expectations. Furthermore, Broadcom’s commentary on future growth, especially for fiscal year 2026, indicates a significant increase in AI revenue, surpassing previous estimates.
Broadcom’s ability to convert a potential customer into a confirmed one, resulting in a substantial $10 billion order, highlights its growing influence in the AI sector. The anticipated growth in the AI Semiconductors segment, expected to double year-over-year, further supports the positive outlook. Additionally, the extension of CEO Hock Tan’s tenure until 2030 provides stability and confidence in the company’s strategic direction. Despite potential gross margin headwinds, the overall gross profit contribution is expected to be substantial, reinforcing the Buy rating.
In another report released yesterday, Mizuho Securities also reiterated a Buy rating on the stock with a $355.00 price target.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of AVGO in relation to earlier this year.