Broadcom Inc. (AVGO) Stock Moves -0.22%: What You Should Know

Broadcom Inc. (AVGO) ended the recent trading session at $168.55, demonstrating a -0.22% swing from the preceding day's closing price. This change was narrower than the S&P 500's daily loss of 0.28%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq lost 0.33%.The the stock of chipmaker has fallen by 4.37% in the past month, lagging the Computer and Technology sector's gain of 2.1% and the S&P 500's gain of 0.41%.Investors will be eagerly watching for the performance of Broadcom Inc. in its upcoming earnings disclosure. In that report, analysts expect Broadcom Inc. to post earnings of $1.39 per share. This would mark year-over-year growth of 25.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $14.06 billion, up 51.29% from the year-ago period.Investors should also take note of any recent adjustments to analyst estimates for Broadcom Inc. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.05% rise in the Zacks Consensus EPS estimate. Broadcom Inc. is currently a Zacks Rank #2 (Buy).In terms of valuation, Broadcom Inc. is presently being traded at a Forward P/E ratio of 27.55. This signifies a discount in comparison to the average Forward P/E of 28.74 for its industry.We can also see that AVGO currently has a PEG ratio of 1.68. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Electronics - Semiconductors industry stood at 3.42 at the close of the market yesterday.The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 149, finds itself in the bottom 41% echelons 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.To follow AVGO in the coming trading sessions, be sure to utilize Zacks.com.Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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