Broadcom Stock Edges Higher As Mizuho Raises Price Target On Continued Strength In AI, Custom Silicon: Retail Sentiment Mixed

Shares of Broadcom Inc. (AVGO) edged up by over 1% in mid-day trade on Wednesday after a price target upgrade from analysts at Mizuho.

Analysts at Mizuho increased their price target for the Broadcom stock to $260 from $245, implying an upside of nearly 15%, according to a report by TheFly.

Underscoring its outlook for the PHLX Semiconductor Sector (SOX), the firm said it is optimistic about the sector’s performance in 2025.

The firm’s analysts reiterated their ‘Outperform’ rating for Broadcom as part of their updated outlook for semiconductor technologies in 2025.

Mizuho analysts think that Broadcom could continue to demonstrate strength in AI, custom silicon, and connectivity. They also noted that the demand for AI could also lead to an increase in demand for memory and storage products.

Retail sentiment on Stocktwits entered ‘bearish’ (44/100) territory from ‘bullish’ (57/100) a day ago.

Some users sounded a bearish note about the Broadcom stock, with one saying the surge is not strong enough.

But not everyone shared the bearish sentiment.

Another user thinks Broadcom stock is following in the footsteps of Taiwan Semiconductor Manufacturing Co. (TSM), which is due to report its detailed earnings on Thursday.

Broadcom’s share price has surged by over 33% in the past six months, and more than doubled over the past year.

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