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Broadcom Inc. (AVGO) Stock Slides as Market Rises: Facts to Know Before You Trade
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Broadcom Inc. (AVGO - Free Report) ended the recent trading session at $325.48, demonstrating a -2% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 1.58%. Meanwhile, the Dow gained 3.03%, and the Nasdaq, a tech-heavy index, added 1.44%.
Shares of the chipmaker have depreciated by 11.62% over the course of the past month, outperforming the Computer and Technology sector's loss of 12.04%, and lagging the S&P 500's loss of 1.97%.
Analysts and investors alike will be keeping a close eye on the performance of Broadcom Inc. in its upcoming earnings disclosure. In that report, analysts expect Broadcom Inc. to post earnings of $3.82 per share. This would mark year-over-year growth of 95.9%. In the meantime, our current consensus estimate forecasts the revenue to be $34.87 billion, indicating a 93.55% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.79 per share and a revenue of $105.97 billion, representing changes of +72.87% and +65.88%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Broadcom Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.06% higher. Broadcom Inc. presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Broadcom Inc. currently has a Forward P/E ratio of 17.45. This valuation marks a discount compared to its industry average Forward P/E of 29.23.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 86, positioning it in the top 35% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
View the Zacks #1 Rank List
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Broadcom Inc. (AVGO) Stock Slides as Market Rises: Facts to Know Before You Trade
Broadcom Inc. (AVGO - Free Report) ended the recent trading session at $325.48, demonstrating a -2% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily gain of 1.58%. Meanwhile, the Dow gained 3.03%, and the Nasdaq, a tech-heavy index, added 1.44%.
Shares of the chipmaker have depreciated by 11.62% over the course of the past month, outperforming the Computer and Technology sector's loss of 12.04%, and lagging the S&P 500's loss of 1.97%.
Analysts and investors alike will be keeping a close eye on the performance of Broadcom Inc. in its upcoming earnings disclosure. In that report, analysts expect Broadcom Inc. to post earnings of $3.82 per share. This would mark year-over-year growth of 95.9%. In the meantime, our current consensus estimate forecasts the revenue to be $34.87 billion, indicating a 93.55% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $11.79 per share and a revenue of $105.97 billion, representing changes of +72.87% and +65.88%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Broadcom Inc. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 last 30 days, the Zacks Consensus EPS estimate has moved 0.06% higher. Broadcom Inc. presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Broadcom Inc. currently has a Forward P/E ratio of 17.45. This valuation marks a discount compared to its industry average Forward P/E of 29.23.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 86, positioning it in the top 35% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.