Broadcom Inc. (AVGO) closed the recent trading session at $1,337.51, increasing by +0.35% from the previous day. This change was higher than the S&P 500’s 0.02% loss. The Dow Jones had a 0.21% decline, while the Nasdaq saw a 0.29% gain.
The chipmaker’s shares dropped by 0.84% in the past month, while the Computer and Technology sector gained 1.39% and the S&P 500 increased by 1.29%. Investors are eagerly awaiting Broadcom Inc.’s upcoming earnings report, scheduled for June 12, 2024. The company is expected to report an EPS of $10.70, up 3.68% from the same quarter last year, with revenue estimated at $11.94 billion, a 36.76% increase from the previous year.
For the full fiscal year, the Zacks Consensus Estimates predict earnings of $46.95 per share and revenue of $50.37 billion, reflecting changes of +11.12% and +40.61%, respectively, from the previous year. Analysts’ revisions to estimates indicate short-term business trends and can impact stock prices. Broadcom Inc. currently holds a Zacks Rank #3 (Hold) and has a Forward P/E ratio of 28.39, trading at a discount to the industry average of 34.88.
The Electronics – Semiconductors industry, in which Broadcom Inc. operates, is part of the IT and Technology sector. With a Zacks Industry Rank of 146, it ranks in the bottom 43% of industries. The Zacks Industry Rank measures the strength of industry groups based on individual stock rankings. Investors can utilize Zacks.com to track these metrics and stay informed about market changes.
To learn more about the latest recommendations from Zacks Investment Research and access a free stock analysis report on Broadcom Inc. (AVGO), you can visit the links provided in the article. Zacks Investment Research offers valuable insights for investors looking to make informed decisions in the stock market.
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https://finance.yahoo.com/news/broadcom-inc-avgo-increases-despite-214514702.html
