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Broadcom (AVGO) Jumps: Stock Rises 7.7%

Zacks

Broadcom Inc. AVGO was a big mover last session, as the company saw its shares rise nearly 8% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $205.59 to $221.42 in the past one-month time frame.

The move came after the company reported better-than-expected third-quarter fiscal 2018 results.

The company has seen its Zacks Consensus Estimate for the current quarter move higher over the past few weeks, suggesting that more solid trading could be ahead for Broadcom. So make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.

Broadcom currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.


A better-ranked stock in the Electronics – Semiconductors industry is Lattice Semiconductor Corporation LSCC, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Is AVGO going up? Or down? Predict to see what others think: Up or Down

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