AVGO - Broadcom Inc.
| Previous Close | 268.64 |
| Open | 272.15 |
| Bid | 272.75 x 800 |
| Ask | 274.89 x 1400 |
| Day's Range | 272.03 - 275.75 |
| 52 Week Range | 204.68 - 323.20 |
| Volume | 1,665,706 |
| Avg. Volume | 2,974,751 |
| Market Cap | 108.985B |
| Beta (3Y Monthly) | 0.80 |
| PE Ratio (TTM) | 36.54 |
| EPS (TTM) | 7.49 |
| Earnings Date | Sep 12, 2019 |
| Forward Dividend & Yield | 10.60 (3.95%) |
| Ex-Dividend Date | 2019-06-21 |
| 1y Target Est | 306.67 |
- Reuters
Apple says it supports 2.4 million U.S. jobs
Apple Inc said on Wednesday it was either directly or indirectly responsible for 2.4 million U.S. jobs, up 20% from the 2 million the technology company estimated in 2017. App-related jobs totaled 1.9 million, up by 325,000 from its previous estimate, the Cupertino, California-based company said in a news post on its website. Apple did not say how it arrived at its estimates or how the research was funded.
- Zacks
Broadcom Inc. (AVGO) Stock Sinks As Market Gains: What You Should Know
Broadcom Inc. (AVGO) closed at $268.64 in the latest trading session, marking a -1.08% move from the prior day.
- Investor's Business Daily
Is Nvidia Stock A Buy Right Now? Here's What Earnings, Charts Show
Chipmaker Nvidia is at the forefront of AI and machine learning, but earnings and share prices have dived. Here is what fundamental and technical analysis say about buying Nvidia stock now.
- Investing.com
StockBeat: Nvidia in Malaise Despite Optimism Ahead of Earnings
Investing.com – Nvidia on Thursday struggled to regain its footing, following a drumming in the market a day earlier, even as analysts touted cautious optimism ahead of the chipmaker's results due later today.
- InvestorPlace
Should You Buy Nvidia Stock Ahead of Today’s Earnings? Not So Fast!
Shares of Nvidia (NASDAQ:NVDA) have traded sideways as of late. Since my last article on the chip maker, NVDA stock has fallen from an open of $165.50 on July 2 to $156.05 share on August 13 then losing another $6 in yesterday's carnage .Source: Shutterstock So, with earnings due out today, is it time to buy NVDA stock?Not so fast! While the company has positive growth catalysts in the pipeline, the shares could be overvalued. NVDA stock trades at a discount to competitor Advanced Micro Devices (NASDAQ:AMD). But high expectations continue to be priced into Nvidia stock. With shares continuing to trade at a premium to broad line chip makers, now may not be the best time to buy into this one. Here's why I recommend some patience before making a move.InvestorPlace - Stock Market News, Stock Advice & Trading Tips What's Going on at NVDA?With NVDA stock, several factors come into play. Among them are the U.S.-China trade war and the global chip glut. But the biggest factor is the GPU war with AMD. Last month, Nvidia launched the RTX line to compete with AMD's family of Navi GPUs.Both chip makers are competing for dominance of the gaming market. Part of the battle is based on performance. But price has been the primary factor in the war. AMD may have gotten the better of Nvidia on price. After pushing Nvidia to cut prices, AMD caught them off guard again -- with another price reduction. * 7 Safe Dividend Stocks for Investors to Buy Right Now This price war underscores Nvidia's troubles in the gaming space. But what future catalysts will be a shot in the arm for the Nvidia stock price? Perhaps cloud gaming is the ticket to future growth. Nvidia's GeForce NOW enables PC gamers to stream more than 500 games from anywhere, using Nvidia's GPUs remotely. The service is currently in beta, but a million-plus players have signed up for the wait list. The subscription-based service could be a cash cow for Nvidia. But cloud gaming remains a work in progress. Widespread availability of 5G is required before cloud gaming reaches critical mass.Nvidia's other businesses face headwinds as well. Last quarter, the company projected continued weak sales for the data center segment. The analyst community also believes that the data center business has yet to turnaround. But if the company can beat expectations and provide an improved forecast, investors could see a boost in the Nvidia stock price.Much of this risk could already be factored into the Nvidia stock price. But this does not necessarily mean NVDA is undervalued. With this in mind, let's take a look at Nvidia stock's current valuation. Nvidia Stock is Not CheapNvidia stock continues to trade at a discount to AMD shares. NVDA currently trades at a forward price/earnings (forward P/E) ratio of 38, compared to AMD's 69.5 forward P/E. In terms of enterprise value/EBITDA (EV/EBITDA), NVDA trades at an EV/EBITDA ratio of 28.4, compared to AMD's EV/EBITDA ratio of 69.7.While NVDA trades at a lower valuation than AMD, I continue to believe that Nvidia stock is not cheap. NVDA trades at premium to broad line chip makers such as Intel (NASDAQ:INTC), which currently trades at a forward P/E of 11.5 and has an EV/EBITDA ratio of 7. Another broad line chip maker, Broadcom (NASDAQ:AVGO), trades at a forward P/E of 50.3, but at a lower EV/EBITDA ratio (14.2) than Nvidia. With the company's growth troubles, it is tough to justify the stock's current premium to the broad line chip names. NVDA may be a strong opportunity down the road, but not at the current price. * Stocks Under $7 to Invest in Now Bernstein analyst Stacy Rasgon agrees. Rasgon recently gave the stock a "market perform" rating, believing the shares' current valuation minimized potential upside. As he wrote in his client note, "We remain somewhat cautious into the print nonetheless, and believe better entry points may exist at later dates."Rasgon's price target is $150 a share. I believe NVDA stock could go materially lower. If NVDA continues to disappoint, shares could trade closer to the valuations of the broad line chip makers. Bottom Line on NVDA StockInvestors have beaten down NVDA stock but they're not yet at bargain levels. While the company's valuation is below arch rival AMD, Nvidia stock continues to trade at a fairly high valuation. More bad news could hit the price and present a stronger buying opportunity. But it could also be a warning sign to avoid the stock further. Take your time with NVDA. Wait until a better entry point, then make your move.As of this writing, Thomas Niel did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 15 Growth Stocks to Buy for the Long Haul * 5 More Cloud Stocks With Plenty of Potential * 5 Clean Energy ETFs to Buy for 2019 The post Should You Buy Nvidia Stock Ahead of Today's Earnings? Not So Fast! appeared first on InvestorPlace.
- Zacks
Vishay Expands Semiconductor Offerings With New Power MOSFET
Vishay Intertechnology (VSH) launches a 60 V TrenchFET Gen IV n-channel power MOSFET, SiSS22DN.
- American City Business Journals
Silicon Valley stocks flash red as Dow posts worst day of 2019
Shares of Silicon Valley's biggest companies fell sharply on Wednesday as the Dow Jones Industrial Average closed out its worst day yet of 2019.
- TipRanks
2 Fast-Growing Chip Stocks With Solid Upside
Investing is all about returns, and investors want to see their money work. The tech sector has long been known for spectacular return on investment (ROI) among the giant corporations. Just think about Amazon’s (AMZN) sky-high share price, or Microsoft’s (MSFT) trillion-dollar market cap – but the average tech stocks have shown themselves to be vulnerable to market pressures, especially from China. In today’s environment, with US-China trade tensions continuing to simmer and fears growing of a Chinese crackdown in Hong Kong, it only makes sense to expect tech stocks to suffer.But not all of them are. Here, we’ll look at two chip stocks that have been delivering for their shareholders, and have what it takes to succeed in these dynamic times. Flagging Microchip Technologies for a Bullish BreakoutThe semiconductor industry is broad, and Microchip Technologies (MCHP) has found its niche within it. The company focuses on integrated circuits, microcontrollers, and related processor chips for professional and home uses. MCHP’s products have a wide range of applications, from IoT to touchscreen technology to home appliances to the automotive, aerospace, and defense industries. It just goes to show that a narrowly focused product can have broader applications.And broader applications are good for profits. MCHP is up 25% year-to-date, beating the S&P 500’s 16% return, and in its recent fiscal Q1 earnings report beat the EPS estimate by 12.8%, on revenues that met expectations. In an added bonus for investors, MCHP has a history of regular dividend payments at 36 cents per share quarterly. While a modest payout, it’s a bit of icing on top of that year-to-date share appreciation.Wall Street’s top analysts are taking note of MCHP, acknowledging the company’s profitable niche and potential. 5-star Needham analyst Rajvindra Gill, who in January downgraded the stock, has since revised his stance and set it as a buying prospect. His $100 price target suggests an upside of 15% to the shares. (To watch Gill's track record, click here)Gill is not alone going bullish on Microchip. 5-star analyst Hans Mosesmann of Rosenblatt, wrote, “We reiterate our Buy rating for MCHP with a $115 price target…” That price target indicates a 32% upside. And writing from B. 4-star Riley FBR, Craig Ellis said, “Q/Q revenue growth midpoint, coupled with CEO Sanghi’s positive tone, embolden confidence growth is returning for chip suppliers…” Ellis set a bullish $120 price target, suggesting he sees room for a 38% upside potential.Overall, Microchip has a Strong Buy from the analyst consensus, based on 8 recent ratings including 7 buys and 1 hold. The average price target, $109, suggests an upside of 25% from the current share price of $90. (See MCHP's price targets and analyst ratings on TipRanks) Broadcom Stock Has 25% Upside, Says Merrill Lynch Broadcom (AVGO) Stock is up 9% so far this year, which underperforms the broader market indexes, but for return-minded investors AVGO’s dividend more than compensates the slower share gains. At 3.74%, the yield is double the S&P 500 average, and the high share price makes the payout $10.60 cents per share annualized.5-star Merrill Lynch analyst Vivek Arya took note of Broadcom’s recent acquisition efforts, specifically the company’s attempt to purchase cybersecurity company Symantec (SYMC). Arya writes, “In July, there were media reports of Broadcom being in talks to buy Symantec as a whole. The latest deal is reportedly for Symantec’s enterprise security business, which is a better fit for Broadcom than acquiring the entire company.” Arya goes on to note that Broadcom has a successful history of M&A, saying “the strategy has proved to be extremely effective in consistently generating free cash flow.” Arya’s approval of AVGO stock is reflected in $345 price target and 27% upside prediction on the stock. (To watch Arya's track record, click here)5-star analyst Mitch Steves, writing from RBC Capital, also takes a bullish stance on AVGO. In initiating coverage with a Buy rating last month, Steves said, “The stock offers potential for multiple expansion given the company's long-term earnings growth well into double digits and a healthy capital allocation.” Steves’ price target for Broadcom, $320, suggests a 18% upside.Broadcom’s analyst consensus rating is a Strong Buy, derived from 23 buy ratings and 7 holds given in the past three months. Shares are selling for $277 and the stock carries an average price target of $313, giving it an upside potential of 15%. (See AVGO's price targets and analyst ratings on TipRanks)
- American City Business Journals
The $200K Club: NetApp's median employee gets a pay boost to join the salary ranks of Google, Netflix and Facebook
NetApp Inc. this year paid its median employee just shy of $200,000 — a level that puts it on par with some of Silicon Valley's biggest companies and represents a 26 percent jump, year-over-year.
- Bloomberg
Huawei Hires Trade Lobbyists as Sales Slow in U.S.-China Fight
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Huawei Technologies Co. hired the law firm Sidley Austin LLP to lobby on trade as the U.S. pressures allies to join it in blacklisting the Chinese telecom giant and the company finds itself increasingly mired in President Donald Trump’s trade war with Beijing.The lobbying, which began in July, will focus on export controls, trade sanctions “and other national security-related topics,” according to a disclosure filed with the U.S. Senate. The document shows that Huawei is deepening its ties to Sidley Austin, which is already working on the company’s legal challenges in the U.S., while also ramping up its lobbying presence.Huawei, which is under an existential threat after the Trump administration blocked it from buying American technology over national-security concerns, has been drawn into the latest escalation of the trade war.Only six weeks ago, following a meeting in Japan with Chinese President Xi Jinping, Trump said he’d delay imposing some restrictions on U.S. companies’ sales to Huawei. The U.S. even invited companies to apply for licenses under an exemption to the Huawei ban.But Bloomberg reported on Aug. 8 that the White House was holding off any decisions on those licenses. The delay follows a series of rapid-fire, tit-for-tat moves including Trump announcing plans to impose tariffs on $300 billion of Chinese imports in September and China halting purchases of U.S farm goods. The U.S. also declared China a currency manipulator.Deepens TiesSidley Austin is already defending Huawei and a U.S. affiliate against charges that they defrauded at least four banks by concealing business dealings in Iran in violation of U.S. sanctions.U.S. prosecutors are seeking to disqualify the company’s lead lawyer in the case, James Cole, because they say his former role as the No. 2 at the Justice Department gave him access to classified information that represents an “obvious conflict of interest.” A hearing has been scheduled in the matter in September.Meng Wanzhou, Huawei’s chief financial officer and the daughter of its billionaire founder, Ren Zhengfei, is also charged in the case. She remains free on bail in Vancouver while she fights extradition to the U.S.Sidley is also representing Huawei in a suit against the U.S. over seizure of telecommunications equipment during an investigation into whether the gear required export licenses. Neither Cole nor the lawyers listed in that lawsuit are among the lobbyists on the disclosure.The Chinese company is one of the world’s biggest purchasers of semiconductors. Continuing those sales is crucial to the fortunes of chipmakers such as Intel Corp., Qualcomm Inc. and Broadcom Inc., who sent their chief executives to meet with Trump in July.Huawei has seen a dramatic slowdown in sales growth as it deals with the U.S. campaign.Alphabet Inc.’s Google stopped providing Huawei with a version of its Android operating system, which lets apps run and provides mobile security on smartphones. That means Huawei, the world’s second-biggest smartphone seller, can no longer pre-install Google’s popular apps, like Gmail and YouTube, on Huawei devices.To fight back, Huawei last week unveiled an in-house operating system, called HarmonyOS, saying it can replace Android if Google’s software is barred from its future smartphones. But Ren also said the company needed a lot more time to build an apps ecosystem, a requirement for any operating software to thrive in the long run.American OnslaughtHuawei, which the U.S. says poses a risk because it must cooperate with Beijing’s espionage agencies under Chinese law, is kicking off a yearslong overhaul to create an “iron army” that can help it survive an American onslaught while protecting its lead in next-generation wireless, Ren warned in an internal memo seen by Bloomberg News.The U.S. says Huawei can build backdoors into its equipment and that it has stolen other companies’ intellectual property. The Shenzhen-based company counters that governments and customers in 170 countries use its equipment, which poses no greater cybersecurity threat than that of any communications technology vendor. Huawei says that the campaign results from Washington’s realization that the U.S. has fallen behind in developing fifth-generation mobile networks.Huawei, which had all but shut down its Washington lobbying operation at the end of 2018, has also recently hired the law firms of Steptoe & Johnson LLP and Jones Day as lobbyists. After Samir Jain, a Jones Day partner who served on President Barack Obama’s National Security Council, registered to lobby for the company, Trump criticized the move in a tweet. The company says Jain will help with legal efforts and not lobby.Sidley Austin also represents the U.S. division of Chinese video surveillance company Hangzhou Hikvision Digital Technology Co., Alibaba Group Holding Ltd. and organizations with ties to the governments of Hong Kong and Russia, according to disclosures. It also represents Bloomberg LP, the owner of Bloomberg News.\--With assistance from Ian King, Jenny Leonard, Shawn Donnan, Mark Bergen and Bill Allison.To contact the reporter on this story: Ben Brody in Washington at btenerellabr@bloomberg.netTo contact the editors responsible for this story: Sara Forden at sforden@bloomberg.net, Jillian Ward, Paula DwyerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Simply Wall St.
Are Investors Undervaluing Broadcom Inc. (NASDAQ:AVGO) By 40%?
Does the August share price for Broadcom Inc. (NASDAQ:AVGO) reflect what it's really worth? Today, we will estimate...
- Motley Fool
Broadcom Bets $10.7 Billion on Security and Synergy
The success of the chip company’s deal for Symantec’s security assets hinges on its ability to wring out costs.
- TheStreet.com
Broadcom's Strategy for its Symantec Deal Has a Lot in Common with its CA Deal
As is the case with CA, Broadcom wants to significantly cut the spending of Symantec's enterprise security unit and streamline its offerings. But the unit faces a tougher competitive environment than CA's core mainframe software business.
- Barrons.com
The Market Is Getting Strange. 8 Stocks to Ride It Out.
With the world’s debt exceeding 320% of its economic output, growth looking weak, and central banks getting creative, there could be more oddities to come. Yet the path for investors through this bizarre landscape is straightforward.
- Market Realist
Trump Refutes China Trade Deal, Market Crash Ahead?
The Dow Jones erased most of the gains it saw during the session after President Trump made a controversial statement about a China trade deal.
- Bloomberg
Huawei Takes a Step Toward Replacing Google’s Phone Software
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Huawei Technologies Co. took the wraps off its “HarmonyOS” operating system Friday, offering the first glimpses of in-house software that may someday replace Google’s Android and reduce its reliance on American technology.To begin with, the open-source software will skip smartphones and instead find its way into everything from cars and watches to personal computers by 2020, Richard Yu, chief executive of the consumer business said during a launch event. Earbuds and virtual reality goggles will follow. Huawei is considering running the OS on its upcoming flagship Mate 30, he told reporters.“Because we support Google’s Android ecosystem, we will prioritize Android for smartphones. If we can’t use Android, we can install HarmonyOS quickly,” Yu said at Huawei’s developers conference in Dongguan. “We had a great chance to become the world’s biggest vendor by shipment -- if not for the trade war.”HarmonyOS, previously code-named “Hongmeng” or “Ark,” is an important part of Huawei’s effort to develop alternatives in response to sanctions on American technology it needs to make its gear. Underscoring the unpredictability of supply, Bloomberg News reported the White House is delaying a decision about licenses for U.S. companies to resume selling to Huawei.China’s largest technology company has found itself at the center of sensitive trade negotiations between Beijing and Washington, with the latter accusing its geopolitical rival of stealing technology and posing a risk to U.S. national security. Irrespective of how the talks play out, Trump administrative curbs have all but smothered Huawei’s goal of overtaking Samsung Electronics Co. to become the world’s largest maker of smartphones.While Huawei’s operating system may serve it well in its domestic market, any plans to dethrone Google’s Android globally will be misplaced, according to Neil Shah, research director at Counterpoint Research.“Huawei with deep pockets and scale in China can pull this off in the domestic market, but to reach Google Android level service integration and app quality outside China is going to be less trivial and a mammoth task,” he said.Huawei seems confident it can do it. “Our HarmonyOS is more powerful and secure than Android, and it has greater distributed capability and is future-facing,” Yu said. “Can HarmonyOS be installed on smartphones? Of course.”For HarmonyOS to work, Huawei will need developers to build apps for its ecosystem -- a major question mark around its fledgling software. “It took Android a decade to reach here with deep integration of Google Mobile Services, and it now has a well curated and relatively secure App Store with millions of apps, advanced AI capabilities,” Shah added.Last year, Huawei spent at least 500 million yuan ($70 million) to lure developers to work on its homegrown OS, and the company may invest more this year, said Yu. “The biggest attraction is our profit-sharing scheme. We may only keep 10% of the app profits and leave the rest to developers,” he said.The efficacy of HarmonyOS is something Huawei still has to prove. Yu went into back-end technical details but refrained from describing consumer-facing features, suggesting it may not yet be ready for prime-time.To help with app migration, HarmonyOS will be built on the Linux and Huawei’s own LiteOS kernels for now, Yu said, which will change in future generations of the OS.Two months into a Trump administration ban that cut off Huawei from American suppliers, Huawei is starting to feel the pinch. It warned of a tougher performance in the second half of 2019 and has been internally preparing for a drop in overseas smartphone shipments of a staggering 60 million units. Yu said Friday that sanctions imposed in May had already reduced smartphone shipments by more than 10 million units in the second quarter.Huawei is delaying the release of its first foldable smartphone Mate X because of “production volume issues”. Yu warned buyers may have to wait until November for the long-awaited product. The postponement is a major blow for the Chinese company, which is battling Samsung and Apple in the global smartphone market.Huawei has looked to its home turf to offset international headwinds. The company has assigned as many as 10,000 engineers, working across three shifts a day, to develop alternatives to American software and components. Huawei already designs its own HiSilicon Kirin processors, though it retains a reliance on U.S. firms such as Qualcomm Inc. and Broadcom Inc. for additional wireless chips.And it’s focusing on domestic sales: the company commanded 37% of the Chinese smartphone market in the second quarter, according to IDC, giving it roughly the same share as the second and third largest vendors combined. Strong home-market sales boosted Huawei’s shipments by 24% to 118 million units in the first half, the company said earlier.(Updates with comments from analyst in the seventh paragraph.)\--With assistance from Simran Jagdev.To contact Bloomberg News staff for this story: Gao Yuan in Beijing at ygao199@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Colum Murphy, Vlad SavovFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- GuruFocus.com
Wall Street Falls on Friday
CBS shares decline despite beating earnings Continue reading...
- Investor's Business Daily
Stock Market Dives, Revives Amid China Yuan Swings; Disney, Roku, Uber, Shake Shack Are Earnings Movers
The stock market plunged Monday on a China yuan devaluation but then started to rally. Disney and Uber were earnings losers. Roku, Shake Shack were winners.
- Investor's Business Daily
Broadcom Acquisition Of Symantec Assets Divides Wall Street Analysts
Broadcom's acquisition of Symantec's enterprise security software unit has divided analysts as the company continues to diversify from its legacy semiconductor business. Broadcom stock rose.
- MarketWatch
Symantec credit in danger of downgrade into 'junk' territory at Moody's
Moody's Investors Service said Friday it was placing Symantec Corp.'s Baa3 senior unsecured debt ratings under review for downgrade, after the security software company said it planned to sell its enterprise software security business to Broadcom Inc. for $10.7 billion and distribute the proceeds to shareholders. Since Baa3 is Moody's lowest investment-grade rating, any downgrade would put the rating into speculative, or "junk" territory. Moody's said that given the increase in "shareholder friendly financial policies," a downgrade of at least one notch is likely. Symantec's stock fell 1.1% in afternoon trading while Broadcom shares gained 2.5%. "Loss of the enterprise business will contribute to a moderate increase in leverage as debt is not being repaid as part of the divestiture," Moody's said. "Leverage and cash flow will be further weakened by stranded costs until they are reduced or eliminated." Year to date, Symantec's stock has rallied 19.9% and Broadcom shares have gained 9.3%, while the S&P 500 has advanced 16.9%.
- Benzinga
Wall Street Weighs In On Symantec-Broadcom Deal
Broadcom Inc (NASDAQ: AVGO) shares were trading higher Friday after the company announced a $10.7-billion buyout of the enterprise business of Symantec Corporation (NASDAQ: SYMC). A deal between the two tech giants had been rumored for weeks, and the combination should lead to significant cost synergies for Broadcom. Broadcom’s enterprise security business generates about $2 billion in annual revenue, and the company is anticipating $1 billion in synergies in the first year after the deal’s closing.
- Market Realist
Symantec Sells Enterprise Unit, Stock Up on AVGO Deal
Symantec (SYMC) stock soared and closed 12.3% higher yesterday after the cybersecurity company announced it was selling assets to Broadcom (AVGO).
- Yahoo Finance Video
Why you may want to invest in semiconductors
Yahoo Finance’s Adam Shapiro, Julie Hyman, and Brian Cheung join Hennion and Walsh Asset Management President and Chief Investment Officer Kevin Mahn and Villere Balanced Fund Portfolio Manager Lamar Villere.
- Yahoo Finance Video
Broadcom to acquire Symantec's enterprise security unit for $10.7 billion
Broadcom is buying software company Symantec's enterprise security unit for $10.7 billion in an all-cash deal. Constellation Research Principal Analyst and Vice President Holger Mueller discusses how the acquisition helps Broadcom to diversify its business and what it means for the business.
- Yahoo Finance Video
'We expect volatility to continue' as U.S., China trade tensions continue
Dan Pipitone of TradeZero America joins YFi AM about how U.S., China trade tensions are weighing on the markets. "We expect volatility to continue," Pipitone tells Yahoo Finance, "it's really important that investors have the tools and the access that they need to take advantage of these active swings."
