|Bid||44.08 x 3200|
|Ask||44.09 x 3000|
|Day's Range||44.01 - 44.12|
|52 Week Range||31.45 - 44.25|
|PE Ratio (TTM)||39.80|
|Earnings Date||Oct 23, 2018 - Oct 29, 2018|
|Forward Dividend & Yield||1.02 (2.32%)|
|1y Target Est||42.51|
Broadcom Inc (NASDAQ: AVGO )'s second-quarter earnings were so good that one Wall Street analyst said they had no choice but to upgrade the semiconductor company. The Analyst Nomura Instinet analyst Romit ...
CA Technologies (CA) announced that at a special meeting held earlier today, its stockholders voted to approve the previously announced merger agreement with Broadcom, under which Broadcom will acquire CA. Subject to customary closing conditions, the transaction is expected to close in the fourth calendar quarter of 2018. Upon the closing of the transaction, trading of CA’s shares on the NASDAQ will cease. CA Technologies (CA) creates software that fuels transformation for companies and enables them to seize the opportunities of the application economy.
CA Technologies (CA) today announced its participation in scientific research to discover how Internet of Things (IoT) applications can use a type of AI known as ‘deep learning’ to imitate human decisions. This three-year research project is named ALOHA (adaptive and secure deep learning on heterogeneous architectures). “The future of all technologies will include AI and deep learning in some way,” said Otto Berkes, chief technology officer, CA Technologies.
It would be an understatement to say Broadcom (NASDAQ:AVGO) shareholders were less than thrilled with the July 11, post-close announcement that the company would be acquiring business software outfit CA (NASDAQ:CA). The fact that Broadcom stock plunged nearly 14% on July 12. Investors simply didn’t see how the hardware giant would fare better with exposure to the software market.
Broadcom (AVGO) has announced its acquisition deal with CA Technologies (CA), one of the world’s leading providers of information technology and software solutions, in a cash deal worth $18.9 billion. According to Nomura Instinet analyst Romit Shah, Broadcom believes the agreement would deliver value to its shareholders through organic growth.
In July, Broadcom (AVGO) announced an agreement to acquire CA Technologies (CA) for an equity value of ~$18.9 billion. The all-cash deal still needs the approval of CA shareholders and antitrust approvals from the European Union (EZU) and Japan (EWJ).
Chipmaker Broadcom (AVGO) has strong cash flows and has been rewarding its shareholders with dividends and share buybacks. In the third quarter, its cash flow from operations was $2.25 billion compared to $2.31 billion in the second quarter and $1.66 billion in Q3 2017. The company had a cash balance of $4.14 billion at the end of the third quarter compared to $8.19 billion at the end of the second quarter.
Semi-conductor giant Broadcom (AVGO) has been posting stable revenues since it operates in the communications infrastructure segment where exposure is high in the wired business. In fiscal Q3 2018, it achieved quarterly revenue of ~$5.06 billion, up 13.5% YoY (year-over-year) from $4.46 billion and ~1% sequentially.
Broadcom (AVGO) reported its fiscal third quarter of 2018 on September 6. In the third quarter, Broadcom’s earnings of $4.98 per share topped estimates by 3.1%. Broadcom’s earnings not only beat expectations in the third quarter but also increased 2% sequentially and 21.5% YoY (year-over-year).
Strong results, a convincing pitch from management on Broadcom's pending acquisition, and a conservative valuation are making this tech stock look compelling.
Shares of Broadcom Inc. (avgo) are up 4.2% in premarket trading Friday after the company reported better-than-expected earnings for its latest quarter. Broadcom has drawn criticism in recent weeks for its planned acquisition of CA Technologies (ca) but analysts were generally upbeat after the report. "While the recent volatility following the CA deal announcement was painful, they may be on the mend as there was a lot to like on this call," wrote Bernstein's Stacy Rasgon, who has an outperform rating and $275 price target on the stock.
Broadcom’s (AVGO) stock price declined after the company announced its acquisition of CA Technologies (CA) in July. A lower stock price and strong fundamentals make Broadcom an attractive option for long-term investors who look at a stock’s fundamental valuation. A stock’s valuation is determined by measuring the stock’s current trading price against its fundamentals such as revenues and EPS. Although AVGO is expected to complete the sale of CA Technologies by the end of 2018, analysts haven’t added the incremental sales from this merger to their sales estimates.
- Revenue of $5,063 million or 13 percent growth from the year ago period - Non-GAAP diluted EPS of $4.98 or 21 percent growth from the year ago period; GAAP diluted EPS of $2.71 or 138 percent growth ...
Broadcom (AVGO) has had a strong foothold in the stock market, with shareholders and analysts bullish on the stock. However, its announcement that it planned to acquire CA Technologies (CA) saw six Wall Street analysts downgrade their ratings for Broadcom from “buy” to “hold.” As a result, the stock’s median price target fell from $311 to $300.
Broadcom (AVGO) stock fell 13.75% on July 12, a day after the company announced plans to acquire mainframe software provider CA Technologies (CA) in an all-cash deal of $18.9 billion. This deal comes four months after President Trump blocked Broadcom’s $117.0 billion acquisition of Qualcomm (QCOM).
Broadcom (AVGO) stock has delivered good returns to its shareholders due to its strong execution of mergers and acquisitions. Since the start of 2018, Broadcom’s stock price has fallen 18.0%. Although Broadcom’s overall business is strong, uncertainty surrounding the new acquisition is impacting its stock price.
New Research Identifies Top Container Trends and Monitoring Challenges, Providing Actionable Takeaways for Enterprise Success
How has 2018 been for Broadcom so far? Broadcom (AVGO) has been one of tech investors’ favorite stocks, as it has delivered strong shareholder returns and fast growth through acquisitions. During this time, it completed the acquisitions of Broadcom and Brocade Communications to expand its infrastructure technology business.
Investors might be ready to ignore their earnings calendar at this point. Earnings season is pretty much over now that most retailers have released fiscal Q2 numbers. It would seem like there are more no key earnings reports until mid-October, when Q3 reporting begins.
Broadcom Corp.'s ( AVGO) stock has fallen by almost 15% since the middle of July. In mid-July the company announced it would buy CA Inc. ( CA) for $19 billion. Now there are signs the chipmaker may be about to rebound by 11% in the coming weeks, from its current price of $214.50, based on technical analysis.