Broadcom Inc. (AVGO) closed at $1,414.03 in the latest trading session, representing a 1.34% increase from the previous day. The stock performed better than the S&P 500, which saw a gain of 0.09%, while the Dow Jones decreased by 0.49% and the Nasdaq rose by 0.65%.
Over the past month, Broadcom’s shares have increased by 15.82%, surpassing the Computer & Technology sector’s gain of 7.36% and the S&P 500’s gain of 5.78%.
Investors are eagerly anticipating Broadcom Inc.’s upcoming earnings release scheduled for June 12, 2024. Analysts are expecting the company to report an EPS of $10.79, a 4.55% increase from the same quarter last year, with revenue projected to be $12.04 billion, up 37.88% from the prior-year quarter.
For the full fiscal year, Zacks Consensus Estimates indicate earnings of $47.07 per share and revenue of $50.54 billion, reflecting changes of 11.41% and 41.09%, respectively, from the previous year.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), currently rates Broadcom Inc. as #3 (Hold). The system has historically outperformed, with #1 stocks returning an average annual gain of 25% since 1988.
Broadcom Inc. has a Forward P/E ratio of 29.64, below the industry average of 39.38, and a PEG ratio of 2.17. The Electronics and Semiconductors industry had an average PEG ratio of 2.81.
The IT and Technology sector, which includes the Electronics – Semiconductors industry, has a Zacks Industry Rank of 193, placing it in the bottom 24% of all 250+ industries. The Zacks Industry Rank assesses industry group strength based on the average Zacks Rank of individual stocks within the group.
Investors are encouraged to stay informed about these metrics on Zacks.com and consider downloading the 7 best stock recommendations for the next 30 days from Zacks Investment Research.
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