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Investing.com - Rosenblatt has raised its price target on Broadcom Limited (NASDAQ:AVGO) to $400 from $340 while maintaining a Buy rating following the company’s quarterly results. The semiconductor giant, with its impressive market capitalization of $1.44 trillion, has shown remarkable momentum, trading near its 52-week high. InvestingPro data reveals the stock has delivered a stellar 102% return over the past year.
The semiconductor company delivered what Rosenblatt described as a "strong beat-and-raise quarter," driven by continued market share gains across its three existing xPU customers. The company’s financial strength is evident in its robust 77.19% gross profit margin and significant revenue growth of 28.01% over the last twelve months. InvestingPro analysis indicates 18 additional key insights about Broadcom’s performance are available to subscribers.
The firm highlighted a significant development where one of Broadcom’s four prospective xPU customers placed a $10 billion order for delivery in the second half of 2026.
Rosenblatt noted this represents an "unusually fast progression from prospect to customer to revenue," which increases their confidence in potential conversion of the remaining three prospects.
The investment firm continues to view Broadcom as a "core holding in any AI-focused portfolio" and has raised its financial estimates for the company alongside the price target increase.
In other recent news, Broadcom Limited has seen a series of updates from various financial analysts highlighting its performance and future prospects. Mizuho raised its price target for Broadcom to $355, citing the company’s July quarter results and October quarter guidance of approximately $17.4 billion, which surpassed consensus estimates of $17.0 billion. Deutsche Bank also increased its price target to $350, noting stronger-than-expected growth prospects in artificial intelligence. Meanwhile, Goldman Sachs maintained its Buy rating with a $360 price target, emphasizing Broadcom’s solid quarter and guidance that exceeded expectations.
JPMorgan raised its price target to $400, identifying Broadcom as a leader in several technology segments, including AI and data center networking. Baird also increased its price target to $300, referencing an impressive execution that led to a significant order from OpenAI, expected in the latter half of 2026. These developments reflect a growing confidence among analysts in Broadcom’s strategic positioning and execution in the technology sector.
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