Broadcom Inc. (AVGO) Ascends While Market Falls: Some Facts to Note

Broadcom Inc. (AVGO) closed at $280.94 in the latest trading session, marking a +1.94% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.4%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq gained 0.18%. The chipmaker's shares have seen an increase of 9.32% over the last month, surpassing the Computer and Technology sector's gain of 6.34% and the S&P 500's gain of 4.97%.Analysts and investors alike will be keeping a close eye on the performance of Broadcom Inc. in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.66, showcasing a 33.87% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $15.82 billion, showing a 21.03% escalation compared to the year-ago quarter. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $6.64 per share and revenue of $62.73 billion. These totals would mark changes of +36.34% and +21.62%, respectively, from last year. Investors should also note any recent changes to analyst estimates for Broadcom Inc. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 0.01% higher within the past month. Broadcom Inc. presently features a Zacks Rank of #3 (Hold). In the context of valuation, Broadcom Inc. is at present trading with a Forward P/E ratio of 41.54. This expresses a premium compared to the average Forward P/E of 27.16 of its industry. Meanwhile, AVGO's PEG ratio is currently 1.62. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. Electronics - Semiconductors stocks are, on average, holding a PEG ratio of 1.6 based on yesterday's closing prices. The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 56, finds itself in the top 23% echelons of all 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. Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions. 7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.5% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Broadcom Inc. (AVGO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks