Broadcom Inc. (AVGO) Stock Dips While Market Gains: Key Facts

Broadcom Inc. (AVGO) closed at $172.02 in the latest trading session, marking a -0.57% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.27% for the day. Meanwhile, the Dow experienced a rise of 0.65%, and the technology-dominated Nasdaq saw an increase of 0.26%.Coming into today, shares of the chipmaker had gained 0.18% in the past month. In that same time, the Computer and Technology sector gained 2.21%, while the S&P 500 gained 2%.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 $1.39, showcasing a 25.23% upward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $14.06 billion, up 51.29% from the prior-year quarter.For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.82 per share and a revenue of $51.58 billion, signifying shifts of +13.95% and +44.01%, respectively, from the last year.It's also important for investors to be aware of any recent modifications to analyst estimates for Broadcom Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 0.12% rise in the Zacks Consensus EPS estimate. Broadcom Inc. currently has a Zacks Rank of #2 (Buy).Digging into valuation, Broadcom Inc. currently has a Forward P/E ratio of 35.87. This expresses a premium compared to the average Forward P/E of 33.03 of its industry.It is also worth noting that AVGO currently has a PEG ratio of 2.18. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Electronics - Semiconductors industry was having an average PEG ratio of 3.74.The Electronics - Semiconductors industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 38% of all 250+ industries.The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks 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 ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks