Broadcom Stock Composite Rating Climbs, Shares Trading Near All-Time High

One of the hottest chipmakers moved a bit higher in the ranks of top-echelon stocks on Tuesday. The IBD SmartSelect Composite Rating for Broadcom (AVGO) rose to a near-perfect 97, of a best-possible 99. Broadcom stock continues to trade near all-time highs


The new rating shows the stock is outpacing 97% of all stocks when it comes to the most important stock-picking criteria. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.

How Would SAS Buy Affect Broadcom Stock?

As reported earlier, Broadcom is said to be in talks to buy privately held software firm SAS for an estimated $15 billion to $20 billion. Broadcom stock dipped fractionally amid market consolidation Tuesday.

Broadcom posted 29% earnings growth for Q2, to $6.62 per share. That means it’s now delivered six straight quarters of rising EPS growth. Sales grew 15% to $6.61 billion, up from 14% growth in the prior report. The company has now posted increasing sales growth in each of the last five reports.

Broadcom stock earns the No. 6 rank among its peers in the Electronics-Semiconductor Fabless industry group. Advanced Micro Devices (AMD), Alpha & Omega Semiconductor (AOSL) and Himax Technologies (HIMX) are among the top 5 highly-rated stocks in the group.

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Broadcom stock has an 89 EPS Rating, meaning its recent quarterly and annual earnings growth is outpacing 89% 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.

Broadcom is currently forming a consolidation, with a 495.24 buy point. See if the stock can break out in volume at least 40% higher than normal.


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