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Tag: AVGO Stock Price

  • Broadcom (AVGO) Stock Rises Following Strong Fiscal Year Earnings

    Broadcom (AVGO) Stock Rises Following Strong Fiscal Year Earnings

    Following the announcement of its most recent earnings report, the stock price of Broadcom Inc. (NASDAQ: AVGO) saw an incredible spike, rising 18.52% to $214.12 as of the last check. AVGO recorded record revenues of $51.6 billion for fiscal year 2024, a 44% rise from the previous year.

    Breakthrough Financial Results

    Strong results in its core businesses, such as semiconductors, which generated $30.1 billion in sales, and infrastructure software, which generated $21.5 billion, were the main drivers of this increase. The integration of VMware significantly contributed to this success.

    Notably, AVGO’s sophisticated AI XPUs and Ethernet networking portfolio supported its AI revenue, which increased 220% year over year to $12.2 billion. Free cash flow (excluding restructuring charges) remained robust at $21.9 billion, while EBITDA again hit an all-time high of $31.9 billion, representing a 37% annual rise.

    Bitnami Premium’s launch

    To further bolster its software offerings, Broadcom introduced Bitnami Premium, an enterprise-grade variant of its popular Bitnami by VMware Tanzu. Millions of developers use Bitnami, a collection of open-source software packages, to expedite the deployment of applications on popular cloud platforms. Platform engineering and security teams may benefit from the new premium version’s enterprise-grade capability, compliance support, and improved security features.

    With over four billion annual downloads, Bitnami is pivotal in accelerating application delivery for Broadcom’s customers. Bitnami Premium introduces benefits such as unlimited access to secure containers and Helm charts, enterprise support for over 500 packages, and long-term support for critical application branches.

    Partnership with Arrow Electronics

    To expand the reach of Bitnami Premium, Broadcom announced its collaboration with Arrow Electronics, a global technology solutions provider. Arrow will serve as the distributor, facilitating seamless purchases and support for Bitnami users. This partnership aims to deliver the value of Bitnami Premium to a broader customer base while emphasizing innovation and customer satisfaction.

    Commitment to Digital Transformation

    Broadcom’s collaboration with Arrow underscores its dedication to helping organizations navigate complex IT landscapes. Arrow’s expertise in global provisioning and billing ensures a smooth transition for Bitnami users, while Broadcom (AVGO) continues to invest in innovative solutions that drive digital transformation. This strategic alignment is poised to further cement Broadcom’s position as a leader in enterprise technology.

  • The Three Top Semiconductor Stocks to Buy Now

    The Three Top Semiconductor Stocks to Buy Now

    The semiconductor stocks are on bullish radar this year following 5G and other infrastructure investments.

    The semiconductor stocks were expected to have a poor year amid the trade war with China and the global pandemic. However, the companies from the semiconductor segment kept on performing with notable growth.

    The new technologies are accelerating more than ever and 5G is one of the fastest-growing technology in the world. The bullish sentiment will continue to upsurge in 2021 following the advancement of 5G and other technological advancements such as the integration of cloud services.

    Moreover, the rising trend of online gaming and cloud computing is also rising quite rapidly. This has developed a path for the semiconductor and semiconductor equipment market. So, the semiconductor stocks are a healthy bet for the investment this year. Let’s have a look at the three top semiconductor stocks to buy now.

    Nvidia (NVDA)

    The semiconductor giant, Nvidia (NVDA) is cursing towards the buy point ahead of its fiscal fourth-quarter earnings report. Investor’s Business Daily reported that IBD MarketSmith charts show NVDA stock has formed a flat base with a buy point of 587.76, over the past 13 weeks.

    In the fiscal Q3 2020, the company reported data center sales of $1.9 billion, up by 162% year-over-year. The revenues skyrocketed 57% to$4.7 billion, with a gross margin of more than 63%. While the net profits were around $1.3 billion.

    The demand for chips and semiconductor products is high with people buying more laptops and gaming PCs during the pandemic. As we move forward, the production scale is going to increase—aiming for the high market demand. So, Nvidia (NVDA) is a potential option for investing in semiconductor stocks this year.

    Broadcom (AVGO)

    Broadcom (AVGO) is a global developer, designer, and supplier of analog semiconductor devices. The company reported 11.9% growth and 56.3% net income growth in Q4 results. The company has been on a roll and is continuing the strong growth from last year.

    The company reported $6.35 per share earnings, beating the expected earnings of $6.26. Broadcom is on a bullish radar and Zacks anticipate a +1.39% in the EPS for the recent quarter.

    While analyst Angelo Zino says that there will be an improvement in enterprise data center spending in the first half of the year. Adding on, he said that cloud spending should remain elevated for the time being.AVGO stock is rated as a buy with a price target of $510, by CFRA.

    Skyworks Solutions (SWKS)

    Skyworks Solutions (SWKS) is a diversified chipmaker, tightly tethered to Apple. The company generated around 56% of its revenue from Apple in fiscal 2020.

    Skyworks mostly expects its share gains from the 5G devices, which are coming in the market in large numbers now. Analyst Zino believes that the transition to 5G technology will be a tremendous bullish catalyst for the stock. Moreover, SWKS shares have a notable valuation, which is priced at only around 20 times forward earnings.

    While the company has zero debt and approximately $1 billion in cash. The company has long-term opportunities that would drive the stock’s price. So, SWKS is another big gun that is in the buy range at the moment.