Piper Jaffray analyst Harsh Kumar lowered his estimates for Broadcom to reflect weakness in the data center, storage, and handset markets. For the January quarter, he thinks Broadcom is likely to make or beat the consensus earnings estimate due to CA cost synergies and share repurchases while delivering a small sales miss. For the April quarter guidance, Kumar believes Broadcom will slightly miss Street earnings estimates while also missing consensus revenue estimate. He expects the wireless, storage, and wired business segments to be weaker than previously expected, as global smartphone softness, slower data center spending, and a storage inventory correction impact the company. The analyst, however, boosted his price target to $310 and reiterates an Overweight rating on Broadcom.

Barclays analyst Tom O'Malley raised the firm's price target on Broadcom (AVGO) to $1,500 from $1,405 and keeps an Overweight rating on the shares after hosting management for meetings. Broadcom is one of the unique companies that has a comprehensive view of the semis industry while also capable of providing an "intimate look" at the artificial intelligence market via custom silicon, the analyst tells investors in a research note. The firm says management highlighted the company's inroads with the consumer-facing AI world, providing a differing viewpoint versus Nvidia's (NVDA) vision of the world - pointing to a two-part market of consumer and enterprise that could grow to a 50/50 split over time. Barclays came away from the meetings "with a valuable second opinion on the future of AI and a greater appreciation for the company's many ways to win."

Barclays analyst Tom O'Malley raised the firm's price target on Broadcom to $1,500 from $1,405 and keeps an Overweight rating on the shares. The analyst increased the price after hosting management for meetings.