- 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.
Revving Up for Summer: Six Flags’ Financial Loop-The-Loop, But CEO Promises Thrilling Comeback
Six Flags Entertainment faces challenges with a 6.3% sales dip in Q1 FY24, totaling $133.291 million, attributed to a $12 million fall in membership revenue post-commitment period, while attendance sees a 6% rise to 1.7 million guests. Despite a per capita spending drop to $74.35, CEO Selim Bassoul emphasizes commitment to enhancing guest experiences with upcoming summer attractions.
