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Broadcom Inc. (AVGO) Stock Moves -1.21%: What You Should Know
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Broadcom Inc. (AVGO - Free Report) closed the latest trading day at $142.08, indicating a -1.21% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 3%. At the same time, the Dow lost 2.6%, and the tech-heavy Nasdaq lost 3.43%.
The chipmaker's shares have seen a decrease of 15.56% over the last month, not keeping up with the Computer and Technology sector's loss of 8.69% and the S&P 500's loss of 2.92%.
The investment community will be closely monitoring the performance of Broadcom Inc. in its forthcoming earnings report. On that day, Broadcom Inc. is projected to report earnings of $1.20 per share, which would represent year-over-year growth of 14.29%. Meanwhile, the latest consensus estimate predicts the revenue to be $12.9 billion, indicating a 45.36% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $4.72 per share and a revenue of $51.37 billion, demonstrating changes of +11.58% and +43.43%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Broadcom Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.58% higher within the past month. At present, Broadcom Inc. boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Broadcom Inc. is at present trading with a Forward P/E ratio of 30.45. This represents a discount compared to its industry's average Forward P/E of 30.62.
Also, we should mention that AVGO has a PEG ratio of 2.01. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 2.64.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Broadcom Inc. (AVGO) Stock Moves -1.21%: What You Should Know
Broadcom Inc. (AVGO - Free Report) closed the latest trading day at $142.08, indicating a -1.21% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 3%. At the same time, the Dow lost 2.6%, and the tech-heavy Nasdaq lost 3.43%.
The chipmaker's shares have seen a decrease of 15.56% over the last month, not keeping up with the Computer and Technology sector's loss of 8.69% and the S&P 500's loss of 2.92%.
The investment community will be closely monitoring the performance of Broadcom Inc. in its forthcoming earnings report. On that day, Broadcom Inc. is projected to report earnings of $1.20 per share, which would represent year-over-year growth of 14.29%. Meanwhile, the latest consensus estimate predicts the revenue to be $12.9 billion, indicating a 45.36% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $4.72 per share and a revenue of $51.37 billion, demonstrating changes of +11.58% and +43.43%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Broadcom Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.58% higher within the past month. At present, Broadcom Inc. boasts a Zacks Rank of #3 (Hold).
In the context of valuation, Broadcom Inc. is at present trading with a Forward P/E ratio of 30.45. This represents a discount compared to its industry's average Forward P/E of 30.62.
Also, we should mention that AVGO has a PEG ratio of 2.01. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As of the close of trade yesterday, the Electronics - Semiconductors industry held an average PEG ratio of 2.64.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.