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INX:AVGO, Mar 18, 04:45 UTC

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What Broadcom’s Q1 2019 Earnings Mean to Investors

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Broadcom's Q1 2019 Earnings Revive Investors' Confidence(Continued from Prior Part)Broadcom’s earnings revive investors’ confidence Previously, we learned that Broadcom (AVGO) stock made a new high on its earnings beat and strong guidance largely.

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Broadcom Stock Makes a New High following Its Q1 2019 Results

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Broadcom's Q1 2019 Earnings Revive Investors' ConfidenceBroadcom stock jumps over 10%On March 15, Broadcom (AVGO) stock rose as high as 11.7% and made a new all-time high of $299.55 as investors reacted to its fiscal 2019 first-quarter earnings.

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Reasons to Hold Broadcom (AVGO) in Your Portfolio for Now

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Notably, shares of Broadcom have returned approximately 18.5% year over year, outperforming the industry’s rally of 12.5%. Broadcom recently introduced a couple of storage area network (“SAN”)-based management software platforms, namely Brocade SANnav Global View and Brocade SANnav Management Portal. Further, the company’s strong relationships with leading OEMs across multiple target markets have helped it in gaining key insights into the requirements of customers. Click to get this free report Symantec Corporation (SYMC) : Free Stock Analysis Report Synopsys, Inc. (SNPS) : Free Stock Analysis Report Cadence Design Systems, Inc. (CDNS) : Free Stock Analysis Report Broadcom Inc. (AVGO) : Free Stock Analysis Report To read this article on Zacks.com click here.

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Yesterday


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What Can the Quant Signals Tell Us About These Stocks? Broadcom Inc. (NasdaqGS:AVGO), Mastercard Incorporated (NYSE:MA)

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A ratio greater than one indicates an undervalued company, while a ratio less than one means a company is overvalued. Getting into a stock too late may leave the average investor pounding the table as a former winner turns into a current loser. Adding a sixth ratio, shareholder yield, we can view the Value Composite 2 score which is currently sitting at 41. Investors might be looking into the magic eight ball trying to project where the stock market will be heading over the next few months. Some analysts believe that the market is ready to take a bearish turn, but others believe that there is still room for stocks to shoot higher. When the markets do have a sell-off, investors may be tempted to sell winners before they give up previous profits. Sometimes this may be justified, but other times this type of panic selling can cause investors to just have to repurchase shares at a higher price after the recovery.

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Friday, March 15


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Broadcom Expects a Second-Half Rebound

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Semiconductor supplier Broadcom(NASDAQ: AVGO) reported its fiscal first-quarter results after the market closed on March 14. The company saw a steep decline in wireless sales, which drove semiconductor revenue down by a double-digit percentage. But strength in other semiconductor markets, despite weak demand in China, as well as the acquisition of CA Technologies, drove revenue and earnings higher. Broadcom left its full-year guidance unchanged, a sign the company is confident it can navigate the choppy waters ahead. Many of our peers have commented that they are seeing a softening demand environment, especially out of China. While we are experiencing the same demand dynamics, we have factored in much of this macroeconomic backdrop when we provided fiscal 2019 guidance last quarter. As a result, after a solid start to the year, we are reaffirming our fiscal 2019 revenue guidance of $24.5 billion.

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Why Ulta Beauty, Broadcom, and Aurora Cannabis Jumped Today

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Friday saw another positive session on Wall Street, with the Dow Jones Industrial Average posting triple-digit gains and other major stock indexes following suit with solid moves higher. Despite some weak numbers from government officials on the state of the manufacturing industry in the U.S., investors seemed to take heart from encouraging signs of progress on the trade front, as well as good news from some high-profile companies. Ulta Beauty (NASDAQ: ULTA), Broadcom (NASDAQ: AVGO), and Aurora Cannabis (NYSE: ACB) were among the top performers. Stronger traffic was primarily responsible for the gains, but Ulta said that customers tended to spend slightly more as well, and the company got good traction from its e-commerce business despite the huge value of its in-store salons.

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Why Broadcom Stock Soared Today

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Shares of Broadcom (NASDAQ: AVGO) climbed as much as 11.7% early Friday, then settled to trade up 8.3% as of 3:00 p.m. EDT after the semiconductor and infrastructure-software leader announced strong fiscal first-quarter 2019 results and reiterated its full-year outlook. By comparison -- and though we don't usually pay close attention to Wall Street's demands -- most analysts were expecting significantly lower earnings of $5.23 per share on slightly higher revenue of $5.82 billion. "Strong results in our networking business supported our semiconductor solutions segment, despite the anticipated sharp decline in wireless," added Broadcom CEO Hock Tan. More specifically, Broadcom's semiconductor solutions segment saw sales decline 12% year over year, to $4.37 billion, while infrastructure software sales more than quadrupled, to $1.4 billion, thanks largely to its mammoth $18.9 billion acquisition of CA Technologies last year.

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Semiconductor ETFs Climb on Broadcom Earnings, China Trade Talks

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Semiconductor sector-related ETFs were among the best performers Friday on optimism over U.S.-China trade talks and Broadcom (AVGO) impressive fourth quarter earnings results. Among the best performing non-leveraged ETFs of Friday, the VanEck Vectors Semiconductor ETF (SMH) increased 2.9%, iShares PHLX Semiconductor ETF (SOXX) advanced 3.0% and Invesco Dynamic Semiconductors ETF (PSI) gained 2.5%. The company also claimed quarterly earnings of $5.55 per share, compared to $5.12 per share a year ago and analyst expectations of an adjusted $5.22 per share, according to FactSet. “We expect our semiconductor business to bottom in the second fiscal quarter driven almost entirely by the seasonal drop in Wireless. But looking to H2, we are confident the semiconductor business will resume very meaningful growth,” Tan said in a conference call.

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Analysts Bump Up Broadcom Price Targets Following Q1 Earnings

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Broadcom Inc (NASDAQ: AVGO) shares are seeing a nice lift following the release of its fiscal first-quarter results. UBS Securities analyst Timothy Arcuri maintained a Buy rating for Broadcom and raised the price target from $275 to $300. Broadcom delivered strong quarterly results and maintained guidance, belying expectations for a cut to the full-year guidance, Arcuri said in a note. Notwithstanding the skepticism about a semiconductor ramp into July-October, the analyst sees a company-specific story that cann't be doubted, given key product cycles in networking and big forthcoming content gains for iPhone.

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Chart of the Day: Is Broadcom CEO Hock Tan Worth His Big Salary?

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Shares of the chip stock have climbed to just shy of $300 at their daily highs on Friday, soaring past the previous all-time high at just under $287 reached Feb. 20. The new heights reflect an approximately 100% return since the merger of Avago and Broadcom, and an annualized return approaching 40% over the past five years. Jefferies analyst Mark Lipacis stated his belief that, alongside Nvidia Corp.

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