Broadcom price target lowered to $650 from $680 at Susquehanna

Susquehanna analyst Christopher Rolland lowered the firm’s price target on Broadcom to $650 from $680 and keeps a Positive rating on the shares. The analyst previewed its results and he expects generally in-line results, but a more challenged guide, noting particular risks around Enterprise Storage and Wireless Communications. He said read-throughs continue to deteriorate, suggesting upcoming challenges for the Semiconductor business and while Enterprise read-throughs also soften, the impact on Software is less.