 Broadcom AVGO has reported an in-line April quarter, and guided to an in-line July quarter at 5.75B consensus 5.8B. Shares in AVGO gained 1 in Thursdays after-hours trading following the earnings release.Specifically, Q2 Non-GAAP EPS of 5.14 was in-line with consensus expectations, while GAAP EPS of 1.17 beat by 0.21. Revenue of 5.74B climbed 4 from the previous year, and topped Street estimates by 50M. Meanwhile Q2 adjusted EBITDA was 3.2B, again, coming in slightly higher than the 3.11B consensus.Semiconductor Solutions reported revenue of 4,027M -1 yy but Infrastructure software revenue came in strong at 1,715M 21 yy.Second quarter results were in-line with our expectations, and saw limited impact from the effects of COVID-19, commented Hock Tan, CEO of Broadcom Inc. Looking ahead, our third quarter guidance for semiconductors reflects a surge in demand from cloud, telecom and enterprise customers, offset by supply chain constraints and an expected substantial reset in wireless.At the same time the company declared a 3.25share quarterly dividend, in line with previous payouts, for a forward yield of 4.2.We generated record quarterly free cash flow of over 3 billion and reinforced our balance sheet, ending the quarter with over 9 billion of cash, explained Tom Krause, CFO of Broadcom Inc. As a result, AVGO remains committed to maintaining our dividend while we navigate these unprecedented times.Following the report Mizuho Securities analyst Vijay Rakesh reiterated his AVGO buy rating while ramping up his price target from 315 to 325 5 upside potential.We continue to see AVGO as well positioned, driven by 5G networking and wireless, software MA;, strong FCF, and dividends, with near-term COVID-19 headwinds subsiding Rakesh told investors, adding that the company is currently trading at an attractive 13.1x F21E Oct PE.Likewise RBC Capitals Mitch Steves boosted his price target from 300 to 340 noting that AVGO is seeing much more demand than it can currently supply for Q3. AVGO is seeing strong uplift in demand from the ramp of next-generation deep learning inference chips the analyst wrote, while demand from enterprise customers for data protection controllers has recovered and is showing strength.Overall, AVGO scores a bullish Strong Buy Street consensus, with 19 buy ratings offset by 2 hold ratings. However, the average analyst price target stands at 303, indicating downside potential of 2. Shares in AVGO are trading down 2 year-to-date. See AVGO stock analysis on TipRanks.Related News: Slack Plunges 15 Post-Print Despite Multi-Year Amazon Deal Ebay Lifts Quarterly Sales and Profit Forecast; Shares Jump To All-Time High Microsoft Buys Metaswitch For Cloud-Based Telecoms Move, 5G Expansion More recent articles from Smarter Analyst: Boeing BA Stock Probably Rallied Too Far, Too Fast Latam Airlines Shares Could Be Heading Further South; Top Analyst Says Sell Starbucks SBUX Road to Recovery Will Take Longer Than Anticipated, Says Analyst TripAdvisor: Post Pandemic, Many Challenges Await 