Semiconductor Giant Stocks Broadcom (NASDAQ:AVGO) It rose on Friday, rising 2.7% as of noon ET, but was up 3.6% earlier in the day. The rise is because S&P 500 Index (SNPINDEX:^GSPC) and Nasdaq Composite Index (NASDAQ: ^IXIC) rose 1% and 1.5% respectively.
Analysts at Broadcom Inc. raised price targets on Friday barclays bank. In a research note on Friday, analyst Thomas O'Malley raised his price target on Broadcom to $260 from $205. The new target is about 10% higher than current levels. Barclays maintains a buy rating on Broadcom stock.
Other companies agree. investment bank Oppenheimer Recently, Broadcom was named one of the hottest semiconductor stocks in 2025. Other heavyweight stocks like Broadcom are also joining the mix NVIDIA and Mayville Technology.
Will be upgraded the next day TSMC Broadcom's manufacturing partner Taiwan Semiconductor Manufacturing Co. (TSMC) reported stronger-than-expected earnings.
TSMC's fourth-quarter revenue was US$26.4 billion, compared with expectations of US$25.8. While 38.8% year-over-year growth is impressive, TSMC's net profit increased by an incredible 57% year-over-year.
The earnings report showed that demand for chip manufacturing driven by artificial intelligence is as strong as ever, which is good news for other semiconductor stocks up and down the value chain, including Broadcom. However, the next year will not be without its challenges for the company. Its current price-to-earnings ratio (P/E) is 183, which is extremely high. If its stock price is to continue climbing, its execution must be near-perfect.
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Johnny Rice has no position in any of the stocks mentioned. The Motley Fool owns and recommends Nvidia and TSMC. The Motley Fool recommends Barclays Plc, Broadcom and Marvell Technology. The Motley Fool has a disclosure policy.
Why Broadcom Stock Is Rising Today Originally published by The Motley Fool