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Broadcom Inc. (AVGO) Rises As Market Takes a Dip: Key Facts
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In the latest market close, Broadcom Inc. (AVGO - Free Report) reached $179.99, with a +0.06% movement compared to the previous day. This change outpaced the S&P 500's 0.18% loss on the day. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, added 0.27%.
Shares of the chipmaker witnessed a gain of 5.14% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 6.6% and outperforming the S&P 500's gain of 4.46%.
The investment community will be closely monitoring the performance of Broadcom Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.39, reflecting a 25.23% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $14.06 billion, indicating a 51.29% upward movement from the same quarter last year.
AVGO's full-year Zacks Consensus Estimates are calling for earnings of $4.82 per share and revenue of $51.58 billion. These results would represent year-over-year changes of +13.95% and +44.01%, respectively.
It is also important to note the recent changes to analyst estimates for Broadcom Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.12% rise in the Zacks Consensus EPS estimate. Currently, Broadcom Inc. is carrying a Zacks Rank of #2 (Buy).
Investors should also note Broadcom Inc.'s current valuation metrics, including its Forward P/E ratio of 37.29. For comparison, its industry has an average Forward P/E of 34.31, which means Broadcom Inc. is trading at a premium to the group.
Also, we should mention that AVGO has a PEG ratio of 2.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Electronics - Semiconductors industry was having an average PEG ratio of 3.81.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 100, placing it within the top 40% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Broadcom Inc. (AVGO) Rises As Market Takes a Dip: Key Facts
In the latest market close, Broadcom Inc. (AVGO - Free Report) reached $179.99, with a +0.06% movement compared to the previous day. This change outpaced the S&P 500's 0.18% loss on the day. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, added 0.27%.
Shares of the chipmaker witnessed a gain of 5.14% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 6.6% and outperforming the S&P 500's gain of 4.46%.
The investment community will be closely monitoring the performance of Broadcom Inc. in its forthcoming earnings report. The company's earnings per share (EPS) are projected to be $1.39, reflecting a 25.23% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $14.06 billion, indicating a 51.29% upward movement from the same quarter last year.
AVGO's full-year Zacks Consensus Estimates are calling for earnings of $4.82 per share and revenue of $51.58 billion. These results would represent year-over-year changes of +13.95% and +44.01%, respectively.
It is also important to note the recent changes to analyst estimates for Broadcom Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.12% rise in the Zacks Consensus EPS estimate. Currently, Broadcom Inc. is carrying a Zacks Rank of #2 (Buy).
Investors should also note Broadcom Inc.'s current valuation metrics, including its Forward P/E ratio of 37.29. For comparison, its industry has an average Forward P/E of 34.31, which means Broadcom Inc. is trading at a premium to the group.
Also, we should mention that AVGO has a PEG ratio of 2.27. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Electronics - Semiconductors industry was having an average PEG ratio of 3.81.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 100, placing it within the top 40% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.