Broadcom stock saw its IBD SmartSelect Composite Rating jump to 96 Tuesday, up from 93 the day before. The chipmaker sports an 89 Relative Strength Rating.
The revised score means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength.
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Is Broadcom Stock A Buy?
Broadcom stock retook its 200-day moving line and is currently forming a double bottom, with a 645.41 entry. See if the stock can break out in volume at least 40% above average. But note that it's a later-stage base, which makes it a riskier entry point. Read "Looking For The Next Big Stock Market Winners? Start With These 3 Steps" for more tips.
The stock has a 93 EPS Rating, which means its recent quarterly and annual earnings growth is outpacing 93% 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.
In Q2, the chipmaker reported 37% earnings-per-share growth. That means it's now generated two straight quarters of rising EPS growth. Top line growth increased 23%, up from 16% in the prior quarter. The company has now posted accelerating growth in each of the last two quarters.
Broadcom stock earns the No. 1 rank among its peers in the Electronics-Semiconductor Fabless industry group. Monolithic Power Systems and Alpha & Omega Semiconductor are also among the group's highest-rated stocks. For
