BMO Capital Markets Sets Broadcom Corp Price Target at $44.00 (BRCM)
Equities research analysts at BMO Capital Markets boosted their target price on shares of Broadcom Corp (NASDAQ: BRCM) to $44.00 in a research note issued to investors on Wednesday. The firm currently has an “outperform” rating on the stock.
Broadcom Corp opened at 36.89 on Wednesday. Broadcom Corp has a 1-year low of $27.59 and a 1-year high of $39.66. The company has a market cap of $20.105 billion and a price-to-earnings ratio of 22.36.
The company last announced its quarterly results on Tuesday, May 1st. It reported $0.65 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.55 EPS by $0.10. The company’s quarterly revenue was up .6% on a year-over-year basis. Analysts expect that Broadcom Corp will post $0.79 EPS next quarter.
Several other analysts have also recently commented on the stock. Analysts at Goldman Sachs (NYSE: GS) reiterated a “positive” rating on shares of Broadcom Corp in a research note to investors on Wednesday. Separately, analysts at Needham & Company reiterated a “buy” rating on shares of Broadcom Corp in a research note to investors on Wednesday. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Broadcom Corp in a research note to investors on Wednesday. They noted that the move was a valuation call.
Broadcom Corporation (Broadcom) is a provider of semiconductor for wired and wireless communications.