Why Broadcom Stock Surged 21% Higher in June
Shares of Broadcom (NASDAQ: AVGO) were off to the races last month, soaring 21% in June, according to data from S&P Global Market Intelligence.
The semiconductor specialist delivered robust financial results and made an announcement that boosted investor sentiment.
Early last month, Broadcom kicked off the festivities with the results of its fiscal second quarter, which ended May 5, and investors cheered. Revenue grew 43% year over year to $12.5 billion, resulting in adjusted earnings per share (EPS) of $10.96, a 6% increase. The company surpassed Wall Street's expectations on both the top and bottom line, helping propel the stock higher.
Source Fool.com
Broadcom Ltd. Stock
€369.75
1.370%
With 82 Buy predictions and not a single Sell prediction Broadcom Ltd. is an absolute favorite of our community.
With a target price of 404 € there is a slightly positive potential of 9.26% for Broadcom Ltd. compared to the current price of 369.75 €.
