AVGOP - Broadcom Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
1,160.00
-28.67 (-2.41%)
As of 9:30AM EST. Market open.
Stock chart is not supported by your current browser
Previous Close1,188.67
Open1,175.70
Bid1,188.49 x 800
Ask199,999.98 x 900
Day's Range1,160.00 - 1,160.00
52 Week Range997.50 - 1,191.65
Volume242
Avg. Volume74,617
Market CapN/A
Beta (5Y Monthly)0.91
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateMar 12, 2020 - Mar 16, 2020
Forward Dividend & Yield80.00 (6.86%)
Ex-Dividend Date2019-12-12
1y Target EstN/A
  • Dow Jones Futures Pare Gains Despite China Trade Deal Reports; Adobe Signals Breakout On Earnings
    Investor's Business Daily

    Dow Jones Futures Pare Gains Despite China Trade Deal Reports; Adobe Signals Breakout On Earnings

    Dow Jones futures slashed gains after China trade deal buzz sent the stock market to record highs. Adobe signaled a breakout on earnings. Broadcom, Costco, Oracle moved on results too.

  • Broadcom Gives Upbeat Forecast; Order Losses Hit Shares
    Bloomberg

    Broadcom Gives Upbeat Forecast; Order Losses Hit Shares

    (Bloomberg) -- Broadcom Inc. gave an annual sales forecast that signaled optimism that the chip industry has weathered the worst of the China-U.S. trade war, but shares dropped after the company said some units are losing orders, raising concerns about overall growth.Sales in fiscal 2020, which ends next November, will be $25 billion, plus or minus $500 million, the company said Thursday in a statement. That projection includes revenue from its purchase of a Symantec Corp. unit, and was in line with or better than estimates from some analysts who had also factored in that new division’s contribution.On a conference call with analysts, executives said Broadcom lost business from a big smartphone customer in one product area and warned that Wi-Fi chip sales will decline next year. The stock, which had gained on the initial report, slipped more than 2% in extended trading following the detailed outlook.Chief Executive Officer Hock Tan has built the company into one of the biggest in the semiconductor business through a string of acquisitions, and is now expanding into software. That gives Broadcom one of the widest reaches in technology, with clients including Apple Inc. and Samsung Electronics Co. in smartphones and some of the top data-center operators for networking components. The evaporation of some business from one of those big phone makers will hold back revenue gains, and the company will tightly control its investment in wireless and industrial chips, Tan said on the call.Apple is one of Broadcom’s largest customers for smartphone components, and earlier this year the two companies struck a deal to supply Apple’s products with radio frequency, or RF, chips for the next two years. Broadcom has also long supplied Apple with Wi-Fi components. But a wireless-charging component used in Apple’s iPhone for a few years from Broadcom was replaced in newer models by a part from STMicroelectronics NV, according to breakdowns of the handset’s parts by iFixit and others. That may be the lost business Broadcom disclosed.The company is targeting total semiconductor sales of $18 billion in 2020, Chief Financial Officer Tom Krause said on the call. The company’s core business -- chips used in networking, broadband and storage systems -- will grow about 7% to around $12 billion, he said. Wi-Fi chip revenue will decline from a total of $2.2 billion and mixed-signal chip revenue will drop by half to less than $500 million, he projected. The company is predicting enterprise software sales will rise to about $7 billion. Symantec revenue will grow from a base of around $1.8 billion, he said.Sales in the fiscal fourth quarter of 2019, which ended Nov. 3, rose 6.1% to $5.78 billion, the San Jose, California-based company said. Before certain items, profit was $5.39 a share. That compares with average analyst estimates for per-share profit of $5.38 on sales of $5.73 billion, according to data compiled by Bloomberg.Broadcom’s market value has swelled to $130 billion following Tan’s spree of deals, including his purchase of Symantec’s enterprise security business for $10.7 billion last month. A big chunk of the company’s products are used in China or sent through factories there on the way to becoming part of electronic devices sold around the world. Huawei Technologies Co., a Chinese equipment maker that has been called a security threat and was cut off from U.S. suppliers by the Trump administration, previously spent hundreds of millions of dollars a year on Broadcom chips.Tan, who has been among the most vocal chip-industry leaders in calling out the impact of the trade dispute between the U.S. and China, trimmed Broadcom’s revenue forecast earlier this year, shaving $2 billion from his original projections, citing declining orders amid the trade dispute. That’s made Broadcom’s stock a laggard. Its 29% gain this year compares with a 56% advance by the Philadelphia Stock Exchange Semiconductor Index.(Updates with details of unit performance predictions starting in third paragraph.)\--With assistance from Mark Gurman.To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Chipmaker Broadcom Tops Wall Street's Targets, Raises Dividend
    Investor's Business Daily

    Chipmaker Broadcom Tops Wall Street's Targets, Raises Dividend

    Chipmaker and enterprise software firm Broadcom late Thursday beat Wall Street's targets for its fiscal fourth quarter. The Broadcom earnings report drove its stock lower in extended trades.

  • Broadcom's full-year forecast fails to impress Wall Street, shares down
    Reuters

    Broadcom's full-year forecast fails to impress Wall Street, shares down

    The outlook pointed to a weaker-than-expected wireless business, said Kinngai Chan, an analyst with Summit Insights Group. Broadcom, on a post-earnings call said that Symantec Corp's enterprise security unit, its latest $10.7 billion acquisition, is expected to contribute about $1.8 billion next year. The 2020 guidance was actually a little light on the Street as revenue from Symantec was expected to be about $2 billion, said Christopher Rolland, analyst with Susquehanna Financial Group.

  • TheStreet.com

    Broadcom's Guidance Is Stronger in Some Spots Than Others

    Broadcom expects fiscal 2020 to be a good year for networking and RF chip sales. But it forecasts a major drop in its "mixed-signal custom" wireless chip sales to Apple.

  • TheStreet.com

    Broadcom Shares Rise After Chipmaker Posts Strong 2020 Guidance

    Broadcom's quarterly revenue narrowly beat estimates and earnings per share met consensus. Guidance for 2020 beat analyst estimates.

  • Chip Analysts Struggle to Get Excited About 2020 After Rally
    Bloomberg

    Chip Analysts Struggle to Get Excited About 2020 After Rally

    (Bloomberg) -- After a year in which semiconductor stocks defied conventional wisdom with a seemingly unstoppable rally in the face of gloomy fundamentals, analysts are loathe to go all in.With signs of a rebound in demand still scant, the key question for the new year is where chipmaker shares can go when they’re trading at the highest price to future earnings multiples in nearly a decade. Most analysts expect business to improve in 2020, aided by things like 5G technology and cloud infrastructure spending. But valuations are cause for concern, especially when accounting for lingering tariff uncertainty.“It is challenging to argue that a good amount of the future return potential hasn’t simply been pulled forward on hope,” said Bernstein analyst Stacy Rasgon.At the end of 2018, most of Wall Street saw little to get excited about in the semiconductor industry. Chipmakers had begun axing forecasts as customer orders slowed and inventories swelled as the U.S.-China trade war heated up. Despite all of that, the Philadelphia semiconductor index embarked on a relentless advance, logging just two down months the entire year.The gauge that tracks 30 semiconductor-related stocks has risen 56% so far in 2019, which would be the biggest annual gain in a decade. That eye-popping number was aided by a brutal market sell-off at the end of 2018 that hit technology stocks particularly hard. Chip shares notched new highs Thursday after President Trump said the U.S. and China are “very close” to a “big” trade deal.To keep the rally going, semiconductor companies will need to start posting better-than-expected financial results, according to Morgan Stanley analyst Joseph Moore, who was one of the first analysts on Wall Street to get cautious on the group in the second half of 2018. Moore now advocates holding a select group of stocks including Intel Corp. and Nvidia Corp., which he expects to benefit from higher cloud spending in 2020.“The period where stocks are going to go up on bad numbers is largely behind us,” he said in an interview. “If the numbers come up, then we can have some good performance. I don’t think there’s room for these multiples to come up too much more.”In that regard, the third quarter was a good start. With results in from all members of the chip benchmark except for Broadcom Inc., more than three-quarters of companies beat profit and revenue estimates, according to data compiled by Bloomberg.Still other indicators are worrisome. Inventory levels for many chipmakers remain elevated, according to Moore, and tariffs haven’t been resolved. U.S. goods on some electronics imported from China are set to increase on Dec. 15 if there’s no trade deal.Despite the trade uncertainty, 2020 is “looking decent” from a fundamental standpoint, according to Bloomberg Intelligence analyst Anand Srinivasan. He expects cloud spending to improve, 5G spending to kick in, and stability in mobile devices and personal computers.“The growth themes that we have been positing are going to be manifested in 2020, particularly in the second half,” he said. “We think it still could be a bumpy ride from a stock perspective but we feel optimistic about 2020.”See AlsoSoftware Analysts See More Volatility in an Uncertain 2020Airbus Secures Lead Over Boeing as 737 Max Weighs Into 2020After ‘Blood-Spilled’ Year, Pot Firms Brace for Repeat in 2020Small-Caps Set to Retake 2020 Market Lead After Three-Year LagS&P 500 Melt-Up Is So Hot It’s Making Cheerleaders Into Skeptics(Updates shares and Trump comments in fifth paragraph, adds P/E chart.)\--With assistance from Lu Wang.To contact the reporter on this story: Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Jennifer Bissell-LinskFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Dow Jones Futures: Lululemon Lags; 3 Key Earnings Reports For Stock Market Rally
    Investor's Business Daily

    Dow Jones Futures: Lululemon Lags; 3 Key Earnings Reports For Stock Market Rally

    Futures: Lululemon Athletica fell late on weak guidance after Apple and chips led Wednesday's stock market rally. Thursday night's Adobe, Broadcom and Costco earnings will be key.

  • Benzinga

    Preview: Broadcom's Q4 Earnings

    Broadcom (NASDAQ: AVGO ) announces its next round of earnings this Thursday, December 12. Here is Benzinga's everything-that-matters guide for the Q4 earnings announcement. Earnings and Revenue Wall Street ...

  • TheStreet.com

    [video]Cisco's Bold Strategy Change Could Boost its Cloud Exposure

    In a challenge to Broadcom and others, Cisco plans to sell a new switching/routing processor and license its routing software to other hardware makers.

  • Cisco Enters Chip Market, Supplying Microsoft, Facebook
    Bloomberg

    Cisco Enters Chip Market, Supplying Microsoft, Facebook

    (Bloomberg) -- Cisco Systems Inc. has started supplying switch chips to major data-center operators, including Microsoft Corp. and Facebook Inc., opening up a new avenue to win orders from some of its largest networking-equipment customers.Cisco Silicon 1 is a switch semiconductor that’s already being used by Microsoft and Facebook in crucial networking equipment, the companies said Wednesday at an event in San Francisco. San Jose, California-based Cisco is now offering the chips, which it says are the fastest in the industry, to all of its customers, regardless of whether they buy its networking machinery. Previously Cisco’s chips were only available as components of its machines.The shift toward standalone chip sales is another departure from the business model that made Cisco one of the biggest companies in the technology industry. Cisco’s expensive proprietary combinations of hardware and software make up the backbone of much of the internet and corporate networks, and these products generate the bulk of the company’s revenue. The new initiative has the potential to attract business from customers who want to build their own machines instead of buying whole packages. It also puts Cisco in direct competition with its suppliers, Intel Corp. and Broadcom Inc., which also make switch chips that the networking equipment maker uses in some of its products.“From today -- and this is something that some of you never thought we’d do -- some of our customers will buy our silicon and build their own products if that’s what they choose to do,” Chief Executive Officer Chuck Robbins said at the event. “We really want our customers to consume this technology in any way they want.”As the internet infrastructure business moves away from suppliers who provide all the needs through locked-down combinations of hardware and software, Robbins has been pushing Cisco to adapt by becoming a bigger supplier of networking services and software. On his watch, software has risen to provide about 11% of revenue. Hardware still generates more than half of sales.Cisco shares rose less than 1% to $44.24 at 2:02 p.m. in New York. The stock gained 1.8% this year through Tuesday’s close.The move into selling components is an attempt to win orders from the hyperscalers, such as Microsoft, Google and Amazon.com Inc.’s AWS, a group that has increasingly turned away from Cisco’s offerings and equipped their data centers with computers and networking gear designed in house. Those big cloud-computing vendors contribute as little as 2% of Cisco’s total sales, according to Raymond James analyst Simon Leopold.Switch chips perform the crucial function of deciding where packets of data should go in a network of computers. They are designed to handle that task at great speed, and only a few companies have been successful in the market. Broadcom is the biggest provider of this type of chip as an individual component and has as much as 80% share, Leopold said. Intel took a bigger interest in the market in June when it bought startup Barefoot Networks.Cisco’s new offering will combine the attributes of both switch and routing chips, the company said. It’ll be able to move data very quickly and still be programmable, carrying the ability to have its function changed. Routing, directing traffic among networks, is typically conducted by groups of chips that bring other attributes but are unable to direct data fast enough for modern internet traffic loads. One chip providing all of the functions will simplify the operation of networks by eliminating the need for different layers of software, Cisco executives said.Offering up what was previously guarded as a proprietary advantage shows a flexibility at Cisco that has been increasing as Robbins works to transform the company. Analysts predict the build-it-yourself approach to networking, pioneered by the large cloud-service operators, over time will be copied by companies looking to reduce the cost of their data-center spending. That corporate market is one of Cisco’s biggest sources of revenue.Cisco’s equipment, including its chips, is designed by the company and manufactured by a third party, which it hasn’t identified.The company also announced a new router machine at the event, designed to better serve as the backbone for new fifth generation, or 5G, cellular networks. The Cisco 8000 will be based on the new chip. The company also unveiled plans for products that will support faster data transmission speeds over fiber-optic cables. Like the rest of the networking industry, Cisco is positioning itself to be a main provider of equipment for the predicted surge in internet traffic and data created by the proliferation of mobile systems.(Updates with comment from Cisco CEO in the fourth paragraph.)To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • AVGO Stock: Is It A Buy Right Now? Here's What Earnings, Broadcom Stock Chart Show
    Investor's Business Daily

    AVGO Stock: Is It A Buy Right Now? Here's What Earnings, Broadcom Stock Chart Show

    Broadcom's recent acquisition led to a breakout above a new buy point, but is AVGO stock a buy in the current stock market?

  • Cisco Stock: Shift To Sell Chips To Impact Broadcom, Arista, Juniper?
    Investor's Business Daily

    Cisco Stock: Shift To Sell Chips To Impact Broadcom, Arista, Juniper?

    Cisco may announce a shift in its business model to sell semiconductors at a "Future of the Internet" event on Wednesday, says one analyst. Cisco's move would challenge Broadcom and Arista.

  • FOMC meeting, retail sales — What to know in the week ahead
    Yahoo Finance

    FOMC meeting, retail sales — What to know in the week ahead

    The Federal Open Market Committee’s (FOMC) last policy-setting meeting of this year and November’s retail sales data will take centerstage this week.

  • The biggest deals and attempted deals of the 2010s 
    Yahoo Finance

    The biggest deals and attempted deals of the 2010s 

    As 2019 ends with major deals, Yahoo Finance looks back at the decade on the mergers and acquisitions in Corprorate America.

  • Broadcom Appears Wired to Go Higher
    TheStreet.com

    Broadcom Appears Wired to Go Higher

    Traders could go long on AVGO, as the charts appear to show price targets of around $335 and then $400.

  • The stock market's biggest winners and losers of the past decade
    Yahoo Finance

    The stock market's biggest winners and losers of the past decade

    With the 2010s officially drawing to a close, Yahoo Finance took a look at some of the biggest S&P 500 winners and losers of the past decade based on price returns.

  • Is Broadcom Inc (AVGO) A Good Stock To Buy?
    Insider Monkey

    Is Broadcom Inc (AVGO) A Good Stock To Buy?

    Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Our research shows that most of the stocks that smart money likes historically generate strong […]

  • Stocks To Watch With Earnings Approaching: Broadcom
    Investor's Business Daily

    Stocks To Watch With Earnings Approaching: Broadcom

    Broadcom (AVGO) is expected to report earnings on Dec. 12. Broadcom now trading 2% below the 323.30 buy point from a first-stage consolidation that it cleared earlier. Understand that jumping into a stock right as it gets ready to report means you likely won't have enough time to build a profit cushion before the release. That leaves you exposed to...

  • Two reasons why a US-China trade deal is taking so long: Mohamed El-Erian
    Yahoo Finance

    Two reasons why a US-China trade deal is taking so long: Mohamed El-Erian

    Mohamed El-Erian, Allianz's chief economic adviser, says there will be 'a mini deal that will see a truce through next year.'

  • Intel Seeks Buyers for Home Connectivity Chips Unit
    Bloomberg

    Intel Seeks Buyers for Home Connectivity Chips Unit

    (Bloomberg) -- Intel Corp. is seeking buyers for its connected home division, a unit that makes chips used in home internet access gear, according to people familiar with the matter.The chipmaker has hired a financial adviser and is seeking to sell the unit that has annual sales of about $450 million, said the people, who asked not to be identified because the matter is private.A representative for the Santa Clara, California-based company declined to comment.Intel Chief Executive Officer Bob Swan has said he’s looking at the company’s operations and will explore options for areas where it isn’t competitive. The company sold its smartphone modem business to Apple Inc. in a $1 billion deal in July. Swan has pointed to the money-losing memory business as an area where he might look for a partnership.The connected home business makes semiconductors that provide wireless connections in home routers and gateways. It offers a range of chips that enable WiFi and manage data traffic for consumers. Competitors include Broadcom Inc. and Qualcomm Inc.Throughout its history, Intel has created units that push new enabling technologies as a way to further its central processor unit business.The connected home initiative is part of an attempt to make sure Intel’s computing chips find their way into the increasing number of smart gadgets being used in households. In its most recent quarter Intel’s Internet of Things group had sales of $1 billion, a gain of 9% from the same period a year earlier.To contact the reporters on this story: Liana Baker in New York at lbaker75@bloomberg.net;Ian King in San Francisco at ianking@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, ;Daniel Hauck at dhauck1@bloomberg.net, Michael Hytha, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Semiconductor Companies: Where Are They In The Chip Cycle?
    Investor's Business Daily

    Semiconductor Companies: Where Are They In The Chip Cycle?

    The semiconductor industry has seen tremendous growth in recent years, but hit a soft patch in late 2018. Here’s what you need to know about the top companies in this cyclical industry.

  • Dow Jones Futures Fall On China Tensions; Target Spikes Higher; Pinduoduo Crashes
    Investor's Business Daily

    Dow Jones Futures Fall On China Tensions; Target Spikes Higher; Pinduoduo Crashes

    Futures fell on China tensions over Hong Kong. Pinduoduo plunged on weak results. Target spiked higher again after strong earnings.