Broadcom snaps six straight sessions of losses

Broadcom (NASDAQ:AVGO) shares traded in the green on Monday, snapping six consecutive days of losses. The stock closed up 0.49% at $165.65.

AVGO rose about 70% in the last 12 months. YTD, the stock is trading up 45.94%, compared to the broader S&P 500 market which is up 23.08%.

Looking at Seeking Alpha’s Quant Ratings, this company has a Hold rating with a score of 3.45 out of 5.

When it comes to Wall Street analysis, 29 out of 42 analysts recommend a Strong Buy, 8 recommend a Buy and 5 recommend it as a Hold.

According to SA analyst Yiannis Zourmpanos, “Broadcom is poised for continued growth, driven by surging AI demand and its transformative VMware acquisition, which has diversified its revenue streams into high-margin infrastructure software.

Partnerships with OpenAI and TSMC (TSM) underscore its critical role in the evolving AI ecosystem, with FY2024 AI revenue projections now exceeding $12 billion.”

Seeking Alpha analysts have a Buy rating on the company.