Analysts remain strongly bullish on Broadcom stock, with 20 of 25 having a rating of Buy or Strong Buy. The other five rate it at Hold. At a recent share price of around $594.00, the potential upside based on a median price target of $659.00 is 10.9%. Based on a high price target of $775.00, the upside potential is 30.5%.
For Broadcom’s fiscal first quarter that ended in January, analysts are looking for revenue of $8.9 billion, which would be down 0.4% sequentially but up 15.4% year over year. Adjusted EPS are forecast at $10.17, down 2.6% sequentially and 21.2% higher year over year. For the full 2023 fiscal year, estimates call for EPS of $40.76, up 8.3%, on sales of $35.22 billion, up 6.1%.
Broadcom trades at about 14.6 times expected 2023 EPS, 13.7 times estimated 2024 earnings of $43.46 and 12.9 times estimated 2025 earnings of $46.00 per share. The stock’s 52-week trading range is $415.07 to $645.31. Broadcom pays an annual dividend of $18.40 (yield of 3.14%). Total shareholder return for the past year was 4.42%.
Dell
Over the past 12 months, shares of Dell Technologies Inc. (NYSE: DELL) have shed more than 20% of their price. The company posted a new 52-week low in mid-October, and shares have bounced up by about 23.5% since then. Last month, Dell announced a 5% cut to its workforce (about 6,650 of its 133,000 employees), citing continuing erosion in sales. The company plans to restructure or integrate some sales and solutions groups. Industry shipments fell 28.5% in 2022, while Dell shipments dropped by 37% and the company lost two points of market share.
Sentiment among analysts tilts bullish, with 12 of 19 brokerages having a Buy or Strong Buy rating and the rest rating the stock at Hold. At a share price of around $41.00, the upside potential based on a median price target of $49.00 is 19.5%. At the high price target of $60.00, the upside potential is about 46.3%.
The consensus revenue estimate for Dell’s fourth quarter of fiscal 2023 is $23.51 billion, down 4.9% sequentially but down 16.0% year over year. Adjusted EPS are forecast at $1.64, down 28.8% sequentially and 4.7% lower year over year. For the full fiscal year that ended in January, analysts expect EPS of $7.45, up 19.8%, on sales of $100.57 billion, down 0.65%.
Dell stock trades at 5.5 times expected 2023 EPS, 6.5 times estimated 2024 earnings of $6.29 and 5.8 times estimated 2025 earnings of $6.95 per share. The stock’s 52-week range is $32.90 to $55.30. Dell pays an annual dividend of $1.32 (yield of 3.22%), and the total shareholder return for the past year was negative 17.63%.
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