Broadcom Corp. (BRCM) to Release Quarterly Earnings on Tuesday
Broadcom Corp. (NASDAQ:BRCM) will announce its Q313 earnings results on Tuesday, October 22nd. Analysts expect the company to announce earnings of $0.69 per share and revenue of $2.13 billion for the quarter.
Broadcom Corp. (NASDAQ:BRCM) last issued its quarterly earnings data on Tuesday, July 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts expect Broadcom Corp. to post $2.62 EPS for the current fiscal year and $2.68 EPS for the next fiscal year.
Shares of Broadcom Corp. (NASDAQ:BRCM) opened at 27.16 on Monday. Broadcom Corp. has a 52-week low of $23.25 and a 52-week high of $37.85. The stock has a 50-day moving average of $26.5 and a 200-day moving average of $31.01. The company has a market cap of $15.726 billion and a price-to-earnings ratio of 37.62.
A number of analysts have recently weighed in on BRCM shares. Analysts at Benchmark Co. reiterated a “buy” rating on shares of Broadcom Corp. in a research note to investors on Friday. They now have a $35.00 price target on the stock. On a related note, analysts at Brean Capital cut their price target on shares of Broadcom Corp. from $36.00 to $35.00 in a research note to investors on Friday. Finally, analysts at Societe Generale reiterated a “hold” rating on shares of Broadcom Corp. in a research note to investors on Wednesday, October 2nd. They now have a $30.00 price target on the stock. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $34.62.
Broadcom Corporation (NASDAQ:BRCM) is a global semiconductor solution for wired and wireless communications.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.