Today’s Research Reports on Stocks to Watch: NVIDIA Corporation and Broadcom Limited
NEW YORK, NY / ACCESSWIRE / December 8, 2017 / Shares of Broadcom may have closed flat yesterday but saw gains of over 4% before pulling back after more analyst upped their price target on the chip company after strong earnings posted last week. Shares of Nvidia also saw gains after it was announced that IBM and Nvidia have teamed up on new chips.
RDI Initiates Coverage on:
NVIDIA Corporation
https://rdinvesting.com/news/?ticker=NVDA
Broadcom Limited
https://rdinvesting.com/news/?ticker=AVGO
NVIDIA Corporation shares closed up 1.44% yesterday on about 13.5 million shares traded. There was no significant news from the company yesterday but earlier this week it was announced that NVIDIA and IBM have teamed up on new chips for artificial intelligence and machine learning. IBM's new line up of chips called Power9 for servers will work closely with graphics processing chips from Nvidia. The second generation of Nvidia's NVLink technology is included which can mean a system that is almost 10 times faster at moving data than an Intel-based system, according to IBM. IBM's senior vice president for cognitive systems, Bob Picciano commented, "We can lift up the entire Library of Congress and run it around the chip in less than five seconds-tremendous bandwidth."
Access RDI's NVIDIA Corporation Research Report at:
https://rdinvesting.com/news/?ticker=NVDA
Broadcom Limited shares closed flat yesterday on nearly 8 million shares traded. The stock saw gains a little over 4% before retracing to close flat after receiving price target increases from analysts. It was last week that the company reported strong fourth-quarter earnings that topped Wall Street estimates and also issued a revenue outlook better than expected. Broadcom had also said it would be increasing its "interim" quarterly dividend to $1.75 a share, which is an increase of 72%. Broadcom reported $4.59 a share on revenue of $4.84 billion compared to the $4.52 a share and revenue of $4.83 billion that analysts were expecting. Looking ahead to the first quarter, the company has forecast revenue of $5.22 billion to $5.37 billion. Analysts were expecting $4.83 billion. After the impressive report, 20 analysts raised their price targets. According to RBC Capital Markets analyst Amit Daryanani, the stock "remains an attractive stock with or without" Qualcomm, which Broadcom has been trying to acquire. He has a "buy" rating on the stock and increased his price target from $315 to $325.
Access RDI's Broadcom Limited Research Report at:
https://rdinvesting.com/news/?ticker=AVGO
Our Actionable Research on NVIDIA Corporation (NASDAQ: NVDA) and Broadcom Limited (NASDAQ: AVGO) can be downloaded free of charge at Research Driven Investing.
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