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Broadcom Inc. (AVGO) Suffers a Larger Drop Than the General Market: Key Insights
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Broadcom Inc. (AVGO - Free Report) closed the most recent trading day at $399.63, moving -1.7% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.24% for the day. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq lost 0.26%.
Shares of the chipmaker witnessed a gain of 30.93% over the previous month, beating the performance of the Computer and Technology sector with its gain of 9.41%, and the S&P 500's gain of 6.42%.
Analysts and investors alike will be keeping a close eye on the performance of Broadcom Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.4, indicating a 51.9% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $22.02 billion, up 46.76% from the year-ago period.
AVGO's full-year Zacks Consensus Estimates are calling for earnings of $11.45 per share and revenue of $102.48 billion. These results would represent year-over-year changes of +67.89% and +60.4%, respectively.
Any recent changes to analyst estimates for Broadcom Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 3.84% rise in the Zacks Consensus EPS estimate. Broadcom Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
From a valuation perspective, Broadcom Inc. is currently exchanging hands at a Forward P/E ratio of 35.5. This valuation marks a discount compared to its industry average Forward P/E of 42.55.
Investors should also note that AVGO has a PEG ratio of 0.73 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 2.5.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 89, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
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) Suffers a Larger Drop Than the General Market: Key Insights
Broadcom Inc. (AVGO - Free Report) closed the most recent trading day at $399.63, moving -1.7% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.24% for the day. Elsewhere, the Dow lost 0.01%, while the tech-heavy Nasdaq lost 0.26%.
Shares of the chipmaker witnessed a gain of 30.93% over the previous month, beating the performance of the Computer and Technology sector with its gain of 9.41%, and the S&P 500's gain of 6.42%.
Analysts and investors alike will be keeping a close eye on the performance of Broadcom Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $2.4, indicating a 51.9% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $22.02 billion, up 46.76% from the year-ago period.
AVGO's full-year Zacks Consensus Estimates are calling for earnings of $11.45 per share and revenue of $102.48 billion. These results would represent year-over-year changes of +67.89% and +60.4%, respectively.
Any recent changes to analyst estimates for Broadcom Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 3.84% rise in the Zacks Consensus EPS estimate. Broadcom Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
From a valuation perspective, Broadcom Inc. is currently exchanging hands at a Forward P/E ratio of 35.5. This valuation marks a discount compared to its industry average Forward P/E of 42.55.
Investors should also note that AVGO has a PEG ratio of 0.73 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Electronics - Semiconductors industry had an average PEG ratio of 2.5.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 89, putting it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.