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Broadcom Inc. (AVGO) Stock Moves 0.24%: What You Should Know
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Broadcom Inc. (AVGO - Free Report) closed the latest trading day at $148.62, indicating a +0.24% change from the previous session's end. On the other hand, the Dow registered a loss of 0.36%, and the technology-centric Nasdaq increased by 0.21%.
Prior to today's trading, shares of the chipmaker had lost 12.82% over the past month. This has lagged the Computer and Technology sector's loss of 11.22% and the S&P 500's loss of 4.22% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Broadcom Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on September 5, 2024. The company's earnings per share (EPS) are projected to be $1.20, reflecting a 14.29% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $12.9 billion, up 45.36% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.72 per share and revenue of $51.37 billion, indicating changes of +11.58% and +43.43%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Broadcom Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.58% higher. Right now, Broadcom Inc. possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Broadcom Inc. is at present trading with a Forward P/E ratio of 31.39. Its industry sports an average Forward P/E of 31.36, so one might conclude that Broadcom Inc. is trading at a premium comparatively.
We can additionally observe that AVGO currently boasts a PEG ratio of 2.07. 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. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 2.59.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 159, placing it within the bottom 38% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Broadcom Inc. (AVGO) Stock Moves 0.24%: What You Should Know
Broadcom Inc. (AVGO - Free Report) closed the latest trading day at $148.62, indicating a +0.24% change from the previous session's end. On the other hand, the Dow registered a loss of 0.36%, and the technology-centric Nasdaq increased by 0.21%.
Prior to today's trading, shares of the chipmaker had lost 12.82% over the past month. This has lagged the Computer and Technology sector's loss of 11.22% and the S&P 500's loss of 4.22% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Broadcom Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on September 5, 2024. The company's earnings per share (EPS) are projected to be $1.20, reflecting a 14.29% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $12.9 billion, up 45.36% from the prior-year quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.72 per share and revenue of $51.37 billion, indicating changes of +11.58% and +43.43%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for Broadcom Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.58% higher. Right now, Broadcom Inc. possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Broadcom Inc. is at present trading with a Forward P/E ratio of 31.39. Its industry sports an average Forward P/E of 31.36, so one might conclude that Broadcom Inc. is trading at a premium comparatively.
We can additionally observe that AVGO currently boasts a PEG ratio of 2.07. 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. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 2.59.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 159, placing it within the bottom 38% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.