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Investing.com - Piper Sandler has raised its price target on Broadcom Limited (NASDAQ:AVGO) to $315.00 from $300.00 while maintaining an Overweight rating on the stock. The semiconductor giant, currently trading at a P/E ratio of 102x, has shown impressive performance with an 80% return over the past year. According to InvestingPro data, analysts maintain a strong buy consensus with price targets ranging from $210 to $400.
The research firm expressed bullish sentiment on Broadcom’s prospects heading into the October quarter, citing strength in both the core semiconductor business and infrastructure software segments.
Piper Sandler highlighted artificial intelligence as the primary growth driver, noting that AI revenue is on track to grow 60% year-over-year to $5.1 billion in the current quarter, with potential to exceed this target.
For the July quarter, the firm anticipates non-AI sales will remain largely flat, while the overall non-AI business stands at "the cusp of a recovery" with mixed performance across segments.
Piper Sandler continues to view Broadcom as "well positioned in the AI landscape," which supports its maintained Overweight rating alongside the increased price target.
In other recent news, Broadcom has been the focus of several analyst updates. Goldman Sachs reiterated its Buy rating on Broadcom, setting a price target of $340. The firm highlights the importance of near-term XPU revenue contributions and updates on AI revenue guidance for fiscal year 2026. Meanwhile, Morgan Stanley (NYSE:MS) increased its price target for Broadcom to $338 from $270, maintaining an Overweight rating. This adjustment reflects a revised 2026 MW EPS multiple, now set at 50x. Additionally, Mizuho (NYSE:MFG) raised its price target for Broadcom to $329 from $315, citing opportunities in China due to resumed AI GPU shipments as part of trade negotiations. Broadcom has also been noted for its significant gains over the past year, attributed to demand for AI and networking chips, alongside high-margin software revenue from recent acquisitions. These developments underscore the growing interest in Broadcom’s performance and future prospects.
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