Broadcom settling lower after pulling guidance [Seeking Alpha]
Xilinx, Inc. (XLNX)
Last xilinx, inc. earnings: 4/22 04:20 pm
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Source: Seeking Alpha
Tech | On the Move Broadcom settling lower after pulling guidance Mar. 13, 2020 10:06 AM ET Broadcom Inc. (AVGO) Jason Aycock Broadcom ( -2.4% yesterday's postmarket earnings The report spurred a sharp target cut at KeyBanc, to $240 from $360, reducing current implied upside to 12%. It's keeping an Overweight rating on. Loop Capital took the chance to raise its rating to Buy; its $260 target implied 22% upside. In its earnings call "We have come to the conclusion that continuing to invest in and operate our wireless assets will create the most value for our business and for our shareholders," CEO Hock Tan says. Asked about acquisitions there, CFO Tom Krause says "Hey, in this environment, given where everything is, we're focused on running the business. We're focused on liquidity. We're focused on our capital returns. I think, at least for the time being, M&A is off the table until visibility improves." See all stocks on the move » Now read: Citi sees safety in Qualcomm, Xilinx amid
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