The IBD SmartSelect Composite Rating for Broadcom increased from 94 to 96 Friday, before the opening bell. It did not help the stock today, as it follows the trend of the market lower.
The new score tells you the company is now outperforming 96% of all stocks in terms of the most important fundamental and technical stock-picking criteria. Winning stocks often have a 95 or higher score in the early stages of a new price run, so that's a good starting point when looking for the best stocks to buy and watch.
Broadcom is currently forming a flat base, with a 923.67 entry. It touched the pivot just after the open, then immediately fell back. Look for the stock to regain that point and then break out in volume at least 40% higher than normal.
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The stock has a 92 EPS Rating, which means its recent quarterly and longer-term annual earnings growth tops 92% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
AVGO Earnings
In Q3, the company reported 8% EPS growth. Revenue growth came in at 5%, down from 8% in the previous quarter.
Broadcom earns the No. 3 rank among its peers in the Electronics-Semiconductor Fabless industry group. NVIDIA is the top-ranked stock within the group.
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