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Broadcom Inc. (AVGO) Gains But Lags Market: What You Should Know

In the latest trading session, Broadcom Inc. (AVGO) closed at $1,211.49, marking a +0.56% move from the previous day. This change lagged the S&P 500's 0.87% gain on the day. Meanwhile, the Dow experienced a rise of 0.67%, and the technology-dominated Nasdaq saw an increase of 1.11%.

Prior to today's trading, shares of the chipmaker had lost 10.99% over the past month. This has lagged the Computer and Technology sector's loss of 5.98% and the S&P 500's loss of 3.97% in that time.

The investment community will be paying close attention to the earnings performance of Broadcom Inc. in its upcoming release. The company is expected to report EPS of $10.70, up 3.68% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $11.95 billion, indicating a 36.87% increase compared to the same quarter of the previous year.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $46.88 per share and a revenue of $50.37 billion, signifying shifts of +10.96% and +40.61%, respectively, from the last year.

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Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Broadcom Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 2.48% lower. Broadcom Inc. is currently sporting a Zacks Rank of #4 (Sell).

With respect to valuation, Broadcom Inc. is currently being traded at a Forward P/E ratio of 25.7. This indicates a discount in contrast to its industry's Forward P/E of 30.77.

It is also worth noting that AVGO currently has a PEG ratio of 1.88. 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 2.78.

The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 154, finds itself in the bottom 39% echelons of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) : Free Stock Analysis Report

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