On Monday, Broadcom got another upgrade for its IBD SmartSelect Composite Rating from 94 to 96.
The new rating is a sign the stock is outpacing 96% 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.
Broadcom is currently well extended beyond a proper buy zone after breaking out from a 923.67 entry in a flat base. In fact it is currently in the +20% gain area as shown on a MarketSmith chart.
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The stock has an 88 EPS Rating, which means its recent quarterly and longer-term annual earnings growth tops 88% of all stocks.
Its Accumulation/Distribution Rating of A shows heavy buying by institutional investors over the last 13 weeks.
In Q4, the company reported 6% EPS growth. Revenue growth came in at 4%, down from 5% in the prior quarter.
Broadcom earns the No. 4 rank among its peers in the Electronics-Semiconductor Fabless industry group. NVIDIA is the top-ranked stock within the group.
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