AVGO - Broadcom Inc.
| Previous close | 237.06 |
| Open | 236.64 |
| Bid | 230.00 x 800 |
| Ask | 235.69 x 800 |
| Day's range | 230.63 - 242.55 |
| 52-week range | 155.67 - 331.58 |
| Volume | 2,896,148 |
| Avg. volume | 3,671,382 |
| Market cap | 93.655B |
| Beta (5Y monthly) | 0.87 |
| PE ratio (TTM) | 38.75 |
| EPS (TTM) | 6.05 |
| Earnings date | 04 Dec 2019 - 09 Dec 2019 |
| Forward dividend & yield | 13.00 (5.48%) |
| Ex-dividend date | 19 Mar 2020 |
| 1y target est | 293.22 |
Reuters VideosWeek ahead: more record-low bond yields?
With stocks careening and bond yields hitting record lows every day - the question on Wall Street next week will remain - when will the selling end and why? Real-time data, such as weekly numbers, will provide clues on what's going on in the economy right now as the spreading coronavirus has many worried about the economic impact. Watch weekly jobless claims: If employers start to lay-off workers it will show up there first. One other number to watch: the University of Michigan will provide the first look at how consumers felt in early March. Software giants Oracle and Adobe are on the earnings calendar next week. As is chipmaker Broadcom. It will be interesting to see what Broadcom says about its supply chain and how sales are doing as the coronavirus spreads. Chip demand was already soft before the outbreak because one of Broadcom's customers is Chinese tech company Huawei -- currently a target of U.S. sanctions. Retail gets a quarterly update from the Gap Inc. The struggling clothing chain just announced a new CEO and recently scrapped plans to spin off Old Navy. And Dollar General reports fourth-quarter results. One other event to watch: new Wells Fargo CEO Charlie Scharf will be in the hot seat before the House Financial Service Committee, in the first of several hearings looking at the bank's 2016 account scandal. Scharf wasn't on the job during that time.
- Zacks
Broadcom's (AVGO) Ethernet Adapters Adopted by Baidu Cloud
Broadcom's (AVGO) SmartNIC Ethernet adapters implemented in Baidu Cloud.
- GlobeNewswire
Broadcom Stingray SmartNIC Accelerates Baidu Cloud Services
SAN JOSE, Calif., March 31, 2020 -- Broadcom Inc. (NASDAQ: AVGO) today announced that its Stingray™ adapter, the industry’s first 100G SmartNIC, is powering Baidu Cloud with.
- Zacks
Moving Average Crossover Alert: Broadcom
Broadcom Inc. (AVGO) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.
- Bloomberg
Apple’s Supply Chain Woes Linger Even as China Recovers
(Bloomberg) -- Apple Inc. kept its business rolling through the coronavirus pandemic this week by launching a new iPad Pro and two new Macs. But that doesn’t mean its supply chain is in the clear.Deliveries of the new products will begin arriving on doorsteps next week. However, production of those devices likely started in early January, before the worst effects of China’s virus lockdown in February, according to people familiar with Apple’s supply chain.With a fresh round of supplier factory closures enforced by Malaysia, and the virus disrupting operations in much of the rest of the world, the iPhone maker’s supply chain has not fully recovered yet.Apple’s next flagship iPhones, with 5G wireless capabilities, are still on schedule to launch in the fall, although that’s partly because mass production isn’t due to begin until May, said the people. They asked not to be identified discussing private supply chain issues.“Even as China comes back on line, we are beginning to wonder if Covid-19 will impact other supply oriented geographies,” Brad Gastwirth, chief technology strategist at Wedbush Securities, wrote in a recent note to investors. “While China is improving, the supply chain for the electronics industry may yet see substantial disruptions.”An Apple spokesman declined to comment. Chief Executive Officer Tim Cook, the architect of the company’s China-focused supply chain, said Feb. 28 that production issues would be a “temporary condition.”Apple’s assembly factories in China, run mainly by Hon Hai Precision Industry Co., were in low gear for much of February. The manufacturing giant, also known as Foxconn, hopes to begin operating normally by the end of March.The February slowdown led to iPhone and AirPods supply constraints, but those have begun to subside. This week, Apple has been limiting iPhone purchases to two per customer on its online store in several countries. In early March, the company warned retail employees about shortages of replacement iPhones.One new product unveiled this week suggests there’s strain on Apple’s supply chain, but also shows the company can still mass produce gadgets given enough time. The keyboard accessory for the iPad Pro was announced Wednesday but goes on sale in May, an unusual delay.Read more: Supply Shock Is Wiping Out Hopes of Smartphone Sales GrowthMass assembly is only one part of Apple’s supply chain. The company and its many partners spend months or years sourcing individual components that are assembled into final products. Any disruptions in this complex network could slow the introduction of future devices.One person who works in Apple’s supply chain said not all operations are moving at normal speed because the flow of components to assemble is still slow. It will take another month or more to get parts moving steadily through the system, the person added.Jabil Inc., which makes iPhone casings, recently said its factories in China were “near normal,” while plants in other parts of the world were running 5% to 10% below capacity.“Most of that is due to supply chain issues. In some odd way, as we sit today, I think China is the least of our concerns,” CEO Mark Mondello told analysts during a March 13 conference call. “We’re able to accommodate all of the demand that’s in front of us as long as we can get parts.”A two-week lockdown in Malaysia is affecting several key suppliers that have operations in the country. Murata Manufacturing Co., Renesas Electronics Corp. and Ibiden Co., which make chips and circuit boards for Apple, have halted production there.Micron Technology Inc., which makes memory chips for Apple devices, is also impacted, but said an exemption allows “limited semiconductor operations to continue.” Texas Instruments Inc. and On Semiconductor Corp. have facilities in Malaysia, too.Apple has suppliers and operations in other countries that have been hammered by the virus, including Italy, Germany, the U.K. and South Korea.Samsung Display and LG Display Co. make iPhone screens in South Korea, while many Apple engineers working on cellular modems are based in Munich, Germany. Apple also operates former Dialog Semiconductor Plc facilities that work on power-management chips in Livorno, Italy, Nabern and Neuaubing, Germany, and Swindon, U.K.Apple has several hundred research and development engineers for future processors and underlying technologies in Israel, which is only letting citizens leave their homes for essential reasons, like buying food and medicine.Read more: Israel’s Netanyahu Orders Near Total LockdownIn the U.S., Apple has suppliers such as Corning Inc. for glass, and Qorvo Inc., Skyworks Solutions Inc. and Broadcom Inc. for wireless chips. Broadcom Chief Executive Officer Hock Tan said recently that the virus “is going to have an impact on our semiconductor business, in particular in the second half of the fiscal year.”Chips take months to make and test, and companies build up months of inventory. That means Apple and other device makers may not have seen the worst of the disruptions yet.The virus is likely challenging Apple’s ability to design and test early versions of future products in Silicon Valley, which is grappling with a shelter-in-place mandate. The company has instated a remote work order, save for some mission-critical employees, for all its offices outside of China.San Francisco’s Shelter-in-Place Order Shows U.S. What’s to ComeThese struggles have yet to severely derail the 5G iPhone launch in the fall. During China’s factory shutdown in February, Apple was able to build a limited number of test versions of the new models, one of the people familiar with the company’s supply chain said.Apple finalizes the majority of design features for new iPhones between November and December of the year prior to launch, the people said. It begins mass-producing new casings around April and then starts a late manufacturing stage called Final Assembly, Test and Pack in about May.Should Apple be unable to send full teams of engineers to China factories to finalize designs and resolve issues, this typical timeline could still slip, another person familiar with the company’s supply chain said.(Updates with Jabil comments in 12th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Simply Wall St.
Broadcom Inc. (NASDAQ:AVGO) Is About To Go Ex-Dividend, And It Pays A 6.9% Yield
Broadcom Inc. (NASDAQ:AVGO) is about to trade ex-dividend in the next 2 days. If you purchase the stock on or after...
- Zacks
3 High-Yield Tech Stocks to Buy to Combat Continued Coronavirus Volatility
On today's episode of Full Court Finance here at Zacks, we take a look at three tech stocks that investors might want to consider buying for their strong dividend yields and more...
- GlobeNewswire
Broadcom Named Leader in Project and Portfolio Management by Independent Research Firms
SAN JOSE, Calif., March 16, 2020 -- Broadcom Inc. (NASDAQ: AVGO) today announced that two major independent research firms have named Broadcom a leader in project and portfolio.
- Simply Wall St.
Is Broadcom Inc.'s (NASDAQ:AVGO) High P/E Ratio A Problem For Investors?
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
- Zacks
Coronavirus Impact: What Investors Can Learn from Chip Giant Broadcom
Broadcom reported its Q1 fiscal 2020 financial results Thursday. Here's what investors can learn from the chip giant about the coronavirus...
- Zacks
Broadcom (AVGO) Q1 Earnings Beat Estimates, Revenues Miss
Broadcom's (AVGO) fiscal first-quarter results reflect strength in infrastructure software segment amid softness in semiconductor vertical on sluggish demand for wireless products.
- Bloomberg
Broadcom Pulls Annual Sales Forecast on Virus Uncertainty
(Bloomberg) -- Broadcom Inc., a chipmaker that supplies Apple Inc. and other large electronics companies, withdrew its annual sales forecast and gave weak near-term guidance, demonstrating how deeply the coronavirus pandemic is poised to hurt demand. The stock slumped 10%.“The fundamental semiconductor backdrop has been improving, and we did not see any material impact on our businesses due to COVID-19 in our first quarter,” Chief Executive Officer Hock Tan said in a statement. “However, visibility in our global markets is lacking and demand uncertainty is intensifying. As a result, we believe it prudent to withdraw our annual guidance until visibility returns to pre COVID-19 levels.”Sales in the current period will be $5.7 billion, plus or minus $150 million, the company said late Thursday. That missed Wall Street expectations. Tan said during a conference call with analysts that the quarterly target is largely in line with normal seasonal trends.While Broadcom’s supply chain is unscathed by the virus so far, the CEO said it’s impossible to assess yet how much consumer demand for electronics will decline.Broadcom’s stock dropped 10% in extended trading. The shares closed at $218.78 earlier in New York, leaving them down 30% so far this year.Broadcom is one of the largest technology companies so far to describe how its business is performing in the midst of the coronavirus health scare. Rising infections shut factories in China for weeks, disrupting trade and global supply chains, while curbing demand for hardware and software.The San Jose, California-based company makes chips for iPhones. Earlier this year, Apple scrapped its revenue guidance for the March quarter because of slowdowns in production and declining demand for its products after stores were closed in China.The fallout from Covid-19 comes as Broadcom, and other chipmakers, were already suffering from a trade dispute between China and the U.S. The company has been a major supplier to Huawei Technologies Co., but the Trump administration has forbidden U.S. companies from selling to the Chinese company. About a third of Broadcom’s products go into devices that are either bought in China or exported from China around the world.CEO Tan has built Broadcom into one of the biggest semiconductor makers through a string of deals. With customers including Apple and Samsung Electronics Co., Broadcom results are closely watched by investors.The company decided to keep investing in its wireless unit, ending speculation about a potential spinoff or sale. In January, Broadcom reported new long-term supply agreements with Apple. Tan said he changed his mind because of the certainty provided by a new customer commitment, not because of how the wireless unit was valued by possible acquirors.Sales in the fiscal first quarter of 2020, which ended Feb 2., rose 1 to $5.86 billion, the San Jose, California-based company said. Before certain items, profit was $5.25 a share. That compares with average analyst estimates for per-share profit of $5.34 on sales of $6 billion, according to data compiled by Bloomberg.(Updates with CEO comments in 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: Alistair Barr at abarr18@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Broadcom Inc. (AVGO) Tops Q1 Earnings Estimates
Broadcom Inc. (AVGO) delivered earnings and revenue surprises of 0.57% and -1.14%, respectively, for the quarter ended January 2020. Do the numbers hold clues to what lies ahead for the stock?
- Investing.com
Broadcom Misses Earnings in Q1; Pulls Revenue Amid Coronavirus-led Uncertainty
Investing.com - Chipmaker Broadcom (NASDAQ:AVGO) on Thursday reported first-quarter results that fell short of estimates and warned of increasing demand uncertainty, forcing it to pull its prior annual guidance.
- Zacks
The Extreme Risks of Trading Your Own Retirement Assets - March 12, 2020
Achieving your retirement goals takes a much different investing approach than regular stock trading, from smartly managing risk to keeping emotions in check.
- Zacks
Tech Stocks' Earnings Roster for Mar 12: ADBE, ORCL & AVGO
Here is a sneak peek into how three technology stocks, namely Adobe, Broadcom and Oracle, are poised ahead of their upcoming earnings releases on Mar 12.
- Yahoo Finance
Coronavirus, Slack earnings, inflation data: What to know in the week ahead
Market watchers will monitor coronavirus developments, Slack earnings and inflation data in a busy week ahead.
- Zacks
Broadcom Inc. (AVGO) Stock Moves -1.58%: What You Should Know
Broadcom Inc. (AVGO) closed the most recent trading day at $269.72, moving -1.58% from the previous trading session.
- Bloomberg
Trump Blocks Chinese Deal for U.S. Software Firm StayNTouch
(Bloomberg) -- President Donald Trump ordered the Chinese acquisition of a hotel property management software company reversed on national security grounds.Trump ordered Beijing Shiji Information Technology Co. to unwind its 2018 acquisition of StayNTouch Inc., the White House said in a statement on Friday.Trump said there was “credible evidence” the Chinese company “might take action that threatens to impair the national security of the United States.”The order marked the third time Trump has blocked a foreign takeover of a U.S. company on national security grounds, and just the sixth time a U.S. president has done so in three decades.The Trump administration has ramped up scrutiny of Chinese acquisitions of American businesses over risks to national security. The panel that reviews foreign investments in U.S. firms, the Committee on Foreign Investment in the U.S., has thwarted a number of Chinese deals, especially for technology companies.CFIUS has raised security concerns about Infineon Technologies AG’s proposed acquisition of Cypress Semiconductor Corp., and has recommended the Trump block it, Bloomberg News reported on Thursday.The Trump administration previously blocked a Chinese deal for Lattice Semiconductor Corp. and Broadcom Inc.’s hostile bid for Qualcomm Inc. Although Broadcom was based in Singapore at the time, the administration cited fears that the deal would harm innovation by Qualcomm and give China an edge in developing wireless technology.Beijing Shiji provides software for the hospitality, food service, retail and entertainment industries. The White House order doesn’t specify the national security risks at issue, but said Beijing Shiji is prohibited from accessing hotel guest data through StayNTouch, which is based in Bethesda, Maryland.(Updates with order in fourth paragraph.)\--With assistance from Jenny Leonard.To contact the reporter on this story: David McLaughlin in Washington at dmclaughlin9@bloomberg.netTo contact the editors responsible for this story: Sara Forden at sforden@bloomberg.net, Ros KrasnyFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Factors Setting the Tone for Broadcom's (AVGO) Q1 Earnings
Broadcom (AVGO) fiscal first-quarter results are expected to reflect growing presence in the infrastructure software space on synergies from CA and Symantec's Enterprise Security business.
- Bloomberg
Infineon Deal Scrutiny Raises Trade Threat to Europe Tech Firms
(Bloomberg) -- U.S. officials are dragging Europe’s technology industry more deeply into a trade war with China, threatening the region’s ability to create its own semiconductor giants.The Committee on Foreign Investment is urging President Trump to block Infineon Technologies AG’s $8.7 billion acquisition of Cypress Semiconductor Corp., claiming it poses a risk to national security, Bloomberg News first reported Thursday. Although it wasn’t clear what spooked Cfius, both Infineon and Cypress have Chinese customers including Huawei Technologies Co. Cfius is sensitive about deals allowing Chinese buyers to get their hands on advanced American technology.QuickTake: All About CFIUS, Trump’s Watchdog on China DealmakingEurope’s tech firms have tried to stay neutral in the power struggle. Semiconductor makers said earlier this year that they’d keep supplying Huawei after after a Trump’s administration order in May demanding U.S.-based companies stop. At the time a spokesman for Infineon said the majority of products it delivers to Huawei were not subject to U.S. restrictions.In recent months European lawmakers have pushed back against Trump’s calls to cut Huawei out of European telecom infrastructure. The U.K., France, and Germany are all looking to keep the door open to the Chinese telecom giant in some way, nubbing the U.S. view that Huawei could be a security risk. Italy, Croatia, Hungary and Switzerland have signed partnerships with Huawei.Huawei is Infineon’s sixth-largest customer accounting for about 2.4% of sales, according to supply chain data compiled by Bloomberg. Other Chinese buyers of Infineon products include iPhone-assembler Hon Hai Precision Industry Co. and Tencent Holdings Ltd.“Obviously national security considerations are very important,” said Keily Blair, Partner at law firm Orrick. “It would be good to see an evidence-based approach in the U.S., similar to what we have seen in the U.K. with Huawei.”In 2017, Cfius blocked Infineon’s proposed deal for Wolfspeed, a semiconductor unit of U.S.-based Cree Inc. Aixtron SE’s planned sale to a Chinese-backed company collapsed in 2016 after U.S. opposition. Trump has also blocked Broadcom Inc.’s hostile takeover of Qualcomm Inc.“We have always been less sure about the regulatory approvals than Infineon management,” said Citigroup Inc. analyst Amit Harchandani, “given the number of recent cross-border deals failing to clear the regulatory hurdle.”The U.S. is also trying to dictate who European firms do business with. Dutch chip gear-maker ASML Holding NV has had difficulty renewing an export license to China following U.S. political pressure. The company wants to sell equipment to China that would help the company produce its own next-generation chips and help it wean itself off foreign imports.In January, U.S. ambassador to the Netherlands Pete Hoekstra told Dutch newspaper Het Financieele Dagblad that ASML’s technology “doesn’t belong in certain places,” suggesting China. The Chinese ambassador, Xu Hong, had warned days earlier in the same paper that the relationship between the Netherlands and China was at risk if the government blocks EUV machine exports.Other European tech deals are now in focus. British chip designer Dialog Semiconductor is another key figure in the European tech supply chain with Chinese customers and American acquisition targets. In February, it said it’d agreed to buy Santa Clara, California-based Adesto Technologies Corp. for about $380 million.Dialog’s biggest customer is Apple Inc., but Huawei is its third-largest with an exposure of about 2.1%. Dialog CEO Jalal Bagherli declined to comment when contacted by Bloomberg on Friday.Although Cypress’s share price has collapsed following the report that Cfius is interested in the deal, some analysts believe all is not lost. “We believe mitigation conditions might still be an option and it would be premature to assume the deal is off,” said Citi’s Harchandani.“We believe worst-case we have a delay until the closing,” Vijay Rakesh, analyst at Mizuho Sescurites, said. A “potential delay or divestiture would be par for the course, but we see deal as mostly consummated.”\--With assistance from Nate Lanxon.To contact the reporters on this story: Giles Turner in London at gturner35@bloomberg.net;Sarah Syed in London at ssyed35@bloomberg.netTo contact the editors responsible for this story: Tom Giles at tgiles5@bloomberg.net, Nate Lanxon, Amy ThomsonFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Bloomberg
Trump Advised to Halt Infineon Deal Amid China Security Risk
(Bloomberg) -- U.S. national security officials are recommending that President Donald Trump block Infineon Technologies AG’s proposed acquisition of Cypress Semiconductor Corp., according to people familiar with the matter.The officials are concerned that Infineon’s $8.7 billion deal for the American chipmaker poses a risk to national security, said three people familiar with the matter. Infineon, a German semiconductor maker with substantial Chinese revenue, has tried to negotiate an agreement with the government that would let the takeover proceed, but hasn’t been able to reach a deal, one of the people said. All of the people asked not to be named discussing a national security matter.It wasn’t clear why officials with the Committee on Foreign Investment in the U.S., which reviews foreign takeovers of U.S. businesses, see a national security risk from the deal. The panel, however, is particularly sensitive to any transaction that could allow Chinese buyers to get their hands on advanced American technology.Read more: About CFIUS, Trump’s Watchdog on China Deals: QuickTakeCypress shares fell as much as 21% earlier before closing down 17.4 percent at $19.18. The shares dropped an additional 10% in extended trading on Thursday. Infineon fell as much as 5% in trading in Frankfurt on Friday.Cfius, which is led by the Treasury Department, can recommend the president block deals to protect national security. Congress gave the panel enhanced powers in 2018 to scrutinize foreign investment in U.S. companies.The Cypress deal would catapult Infineon into the top 10 of global chipmakers based on sales. Infineon derives a third of its sales from China, according to data compiled by Bloomberg.The White House’s National Security Council and Cypress declined to comment. Infineon didn’t immediately respond to requests for comment. Cfius as a policy never comments on its reviews.Infineon told investors on an earnings call last month that it was negotiating a potential settlement for the deal.“We have a very good understanding about the requirements of U.S. government, what they expect and we are working together with them in order to resolve that,” Infineon Chief Executive Officer Reinhard Ploss said. “Our expectation is that we find a setup, which is supporting our revenue synergies.”Cypress, based in San Jose, sells components to the defense industry, although its products are not considered particularly sensitive. The company’s website highlights several offerings that are either suitable or designed for aerospace and defense customers, including “defense grade memory” parts that can “withstand military operating temperature ranges.”The Trump administration has toughened its review of foreign acquisitions of U.S. businesses, particularly technology companies. Trump has blocked two takeovers on national security grounds, Broadcom Inc.’s hostile takeover of Qualcomm Inc. and Lattice Semiconductor Corp.’s sale to a Chinese-backed investor.In 2017, Infineon tried to buy Wolfspeed, a semiconductor unit of U.S.-based Cree Inc., but the the deal was blocked by Cfius. Wolfspeed manufactures a type of semiconductor increasingly used in telecommunications and radar systems.(Updates with Cypress, Infineon shares in fourth paragraph)\--With assistance from Ian King and Joshua Fineman.To contact the reporters on this story: Saleha Mohsin in Washington at smohsin2@bloomberg.net;David McLaughlin in Washington at dmclaughlin9@bloomberg.net;Jenny Leonard in Washington at jleonard67@bloomberg.netTo contact the editors responsible for this story: Sara Forden at sforden@bloomberg.net, ;Alex Wayne at awayne3@bloomberg.net, ;Margaret Collins at mcollins45@bloomberg.net, Paula Dwyer, Alistair BarrFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
- Zacks
Analysts Estimate Broadcom Inc. (AVGO) to Report a Decline in Earnings: What to Look Out for
Broadcom Inc. (AVGO) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
- Zacks
The Zacks Analyst Blog Highlights: Broadcom, Coca-Cola, Procter & Gamble, McDonald's and Intel
The Zacks Analyst Blog Highlights: Broadcom, Coca-Cola, Procter & Gamble, McDonald's and Intel
- Zacks
Record-Low Treasury Yield Amid Virus Threat May Benefit Stocks
Despite the rate cut, investors rushed toward safe-haven sovereign government bonds, which resulted in historically low yields.
