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Broadcom Inc. (AVGO) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, Broadcom Inc. (AVGO - Free Report) closed at $418.20, marking a -1.08% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.12%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.2%.
Coming into today, shares of the chipmaker had gained 40.6% in the past month. In that same time, the Computer and Technology sector gained 16.05%, while the S&P 500 gained 9.3%.
The upcoming earnings release of Broadcom Inc. will be of great interest to investors. The company is forecasted to report an EPS of $2.4, showcasing a 51.9% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $22.04 billion, reflecting a 46.87% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $11.45 per share and a revenue of $102.46 billion, demonstrating changes of +67.89% and +60.38%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Broadcom Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. The Zacks Consensus EPS estimate has moved 3.1% higher within the past month. Broadcom Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
In the context of valuation, Broadcom Inc. is at present trading with a Forward P/E ratio of 36.92. This valuation marks a discount compared to its industry average Forward P/E of 48.25.
We can also see that AVGO currently has a PEG ratio of 0.76. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 2.62 based on yesterday's closing prices.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Broadcom Inc. (AVGO) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, Broadcom Inc. (AVGO - Free Report) closed at $418.20, marking a -1.08% move from the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.12%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.2%.
Coming into today, shares of the chipmaker had gained 40.6% in the past month. In that same time, the Computer and Technology sector gained 16.05%, while the S&P 500 gained 9.3%.
The upcoming earnings release of Broadcom Inc. will be of great interest to investors. The company is forecasted to report an EPS of $2.4, showcasing a 51.9% upward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $22.04 billion, reflecting a 46.87% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $11.45 per share and a revenue of $102.46 billion, demonstrating changes of +67.89% and +60.38%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Broadcom Inc. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. The Zacks Consensus EPS estimate has moved 3.1% higher within the past month. Broadcom Inc. is holding a Zacks Rank of #1 (Strong Buy) right now.
In the context of valuation, Broadcom Inc. is at present trading with a Forward P/E ratio of 36.92. This valuation marks a discount compared to its industry average Forward P/E of 48.25.
We can also see that AVGO currently has a PEG ratio of 0.76. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 2.62 based on yesterday's closing prices.
The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.