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I used to think that chips were for dips. My thinking has changed. Chips are for rips! The semi conductor space is routinely at the top of the Zacks Industry Rank and the sector has several high double digit winners already this year. Let’s take a look at some recent earnings reports from select chip names that might be great additions to your portfolio.
SQNS
Sequans Communications (SQNS - Free Report) reported a beat on top and on bottom on May 2 and more recently the stock has seen a huge move higher. One of the reasons this stock should be on your radar screen is the heavy volume over the last few days that drove the stock higher. With an average volume of around 550K shares, the last few days saw volumes of 1.2M or more. On 5/31/17 the stock saw roughly average trading volume and slipped 4.5%, but don’t be surprised if this under the radar chip play reaches new highs in the coming week.
Analog Devices (ADI - Free Report) reported the morning of 5/31/17 and beat on top and on bottom. The company also raised guidance, and that is just what aggressive growth investors love to see. The stock traded to a new 52 week high of $90.49 but was unable to hold most of the early gains as shares drifted back down to the $86 handle. Look analysts to raise estimates on this stock and for the Zacks Rank to improve in the coming weeks.
Broadcom (AVGO - Free Report) is slated to report after the close on Thursday, June 1. Wall Street is looking for revenue of $4.1B and EPS of $3.50. The stock is a Zacks Rank #3 (Hold) and the earnings ESP is a 0% suggesting that the most recent update to estimates is not suggesting a beat is more likely than a miss. The stock has been on a roll since mid April and given the build for iPhone 8, investors could be expecting some big numbers. At the same time, AVGO trades at only 18.6x forward earnings, which is well below the 23.5x industry average.
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3 Chips For Rips, Not Dips
I used to think that chips were for dips. My thinking has changed. Chips are for rips! The semi conductor space is routinely at the top of the Zacks Industry Rank and the sector has several high double digit winners already this year. Let’s take a look at some recent earnings reports from select chip names that might be great additions to your portfolio.
SQNS
Sequans Communications (SQNS - Free Report) reported a beat on top and on bottom on May 2 and more recently the stock has seen a huge move higher. One of the reasons this stock should be on your radar screen is the heavy volume over the last few days that drove the stock higher. With an average volume of around 550K shares, the last few days saw volumes of 1.2M or more. On 5/31/17 the stock saw roughly average trading volume and slipped 4.5%, but don’t be surprised if this under the radar chip play reaches new highs in the coming week.
SQNS is a Zacks Rank #1 (Strong Buy)
Sequans Communications S.A. Price and Consensus
Sequans Communications S.A. Price and Consensus | Sequans Communications S.A. Quote
ADI
Analog Devices (ADI - Free Report) reported the morning of 5/31/17 and beat on top and on bottom. The company also raised guidance, and that is just what aggressive growth investors love to see. The stock traded to a new 52 week high of $90.49 but was unable to hold most of the early gains as shares drifted back down to the $86 handle. Look analysts to raise estimates on this stock and for the Zacks Rank to improve in the coming weeks.
ADI is currently a Zacks Rank #3 (Hold)
Analog Devices, Inc. Price and Consensus
Analog Devices, Inc. Price and Consensus | Analog Devices, Inc. Quote
AVGO
Broadcom (AVGO - Free Report) is slated to report after the close on Thursday, June 1. Wall Street is looking for revenue of $4.1B and EPS of $3.50. The stock is a Zacks Rank #3 (Hold) and the earnings ESP is a 0% suggesting that the most recent update to estimates is not suggesting a beat is more likely than a miss. The stock has been on a roll since mid April and given the build for iPhone 8, investors could be expecting some big numbers. At the same time, AVGO trades at only 18.6x forward earnings, which is well below the 23.5x industry average.
Broadcom Limited Price and Consensus
Broadcom Limited Price and Consensus | Broadcom Limited Quote
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look. See the pot trades we're targeting>>