- Mizuho analyst Vijay Rakesh reiterated a Buy on Broadcom Inc (NASDAQ:AVGO) and a $725 price target reflecting technology leadership with Tomahawk 4/5, growing Software, industry-leading margins, and FCF.
- Mizuho hosted AVGO’s CEO Hock Tan, CFO Kirsten Spears, and IR Ji Yoo.
- Rakesh noted strong demand with a continued leading market position. Broadcom’s overall customer lead times remained at ~50 weeks, and its manufacturing lead times potentially improved.
- Broadcom’s gross margin improvement came from better uptake/adoption/mix from more robust adoption of newer next-gen products.
- Broadcom’s goal is to become the “golden screw” for customers’ match-sets, shipping to ‘true’ end-demand.
- Broadcom is committed to investing in VMWare’s core competency following the acquisition as it looks to build its software business.
- Price Action: AVGO shares traded higher by 2.36% at $524.13 on the last check Friday.
CME Group Extends Employment Agreement For Chairman & Chief Executive Officer Terry Duffy Through 2025
CME Group today announced that it will extend Chairman and Chief Executive Officer Terry Duffy's tenure through December 31, 2025, in an amended contract agreement the Board approved today. "Given his skillful
