Broadcom Reported Q3 Results, Beating The Consensus
<p><a href='https://financialmodelingprep.com/financial-summary/AVGO'>Broadcom (NASDAQ:AVGO) </a>reported better-than-expected Q3 results, with EPS of $6.96 beating the Street estimate of $6.85 and revenue of $6.78 billion, compared to the consensus estimate of $6.74 billion.</p>
<p>The company provided its Q4 outlook with projected revenue of $7.35 billion, higher than the consensus estimate of $7.23 billion.</p>
<p>Analysts at Deutsche Bank raised their price target on Broadcom to $560 from $525. While the magnitude of the beat/raise was slightly less in comparison to the company’s peers, the brokerage believes the consistency displayed by the company is intentional both strategically, as it focuses on long-duration infrastructure designs in Networking, Storage, and Broadband, and tactically as it tightly manages shipments to avoid customer inventory builds. </p>
<p>Analysts at Oppenheimer think that the company has one of the most strategically and financially attractive business models in the semiconductor industry, mentioning 4 major investment considerations that underpin their bullish outlook: </p>
<p>(1)  Sustained competitive advantage in the market with best-in-class visibility.</p>
<p>(2) Highly diversified non-mobile business offering the financial performance characteristics of a more traditional HPA bellwether. </p>
<p>(3) The company has an efficiently managed manufacturing advantage. </p>
<p>(4) Substantial EPS and FCF growth driven.</p>

NASDAQ:AVGO