20 Trending AI Stocks on Latest Analyst Ratings and News

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9. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 130

Broadcom Inc. (NASDAQ:AVGO) supplies semiconductor infrastructure software solutions. Latest reports suggest that the company is not considering a potential takeover bid for rival Intel. News publication Bloomberg, citing people familiar with the matter, reports that Broadcom was assessing an offer for Intel but has put the brakes on the project, for now. Intel is pitching large parts of the business, including foundry, to potential buyers as it seeks to raise cash for a total overhaul. Several chip firms, including Qualcomm, are reportedly interested in buying parts of the Intel business. Such a takeover would invite security from regulators, evidenced by the fact that authorities shut down a potential merger between Broadcom and Qualcomm in 2018.

William Blair analyst Sebastien Naji recently initiated coverage of Broadcom Inc. (NASDAQ:AVGO) stock with an Outperform rating. In an investor note, the advisory underlined that Broadcom was targeting $12 billion in AI revenue in FY24 and there was room for continued steady growth into FY25 and FY26 driven by increasing custom chip demand, improved software monetization, recovery in non-AI semi chips and accelerating growth of Ethernet AI network fabrics.

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