The Irvine, California- based Broadcom Corporation (NASDAQ:BRCM) announced sales in the third-quarter surpassed analysts’ forecasts, amid higher orders from Smartphone makers.
Broadcom, a manufacturer of chips that assist mobile gadgets connect to the Internet, reported in a statement on Tuesday that net income was $220 million or 38 cents per share, from $270 million or 48 cents per share in previous year.
The company reported that sales moved up 8.7% to $2.13 billion. Bloomberg gathered data confirms that analysts on average forecasted a profit of 42 cents per share on $2.09 billion of sales.
Broadcom anticipated sales of $1.95 billion to $2.1 billion during the fourth-quarter, evaluated against n median analyst forecast of $2.11 billion, as shown in the Bloomberg compiled data.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. QUALCOMM, Inc. (NASDAQ:QCOM) fell -0.63% to settle at $58.31, Texas Instruments Incorporated (NASDAQ:TXN) moved up +0.18% to end at $27.84 while PMC-Sierra, Inc. (NASDAQ:PMCS) jumped +2.07% to finish at $4.94 on Tuesday.
Broadcom Corporation (NASDAQ:BRCM) last session’s volume of 9.77 million shares was surprisingly higher than its average volume of 6.70 million shares. The stock after opening at $32.93 hit high price of $33.50 and then closed at $33.36 by scoring -0.18%.
The liquidity measure in recent quarter results of the company was recorded 2.53 as current ratio and on the other side the debt to equity ratio was 0.17 and long-term debt to equity ratio remained at 0.17. The Company had total cash of $1.77 billion at hand and a book value per share as $12.76 in the most recent quarter.
The stock’s price volatility was 2.67 % for a week and 2.44% for a month as well as price volatility’s Average True Range for 14 days was 0.82 and its beta remained at 1.30.
BRCM generated revenue of $7.58 billion in the previous twelve months and earned $772.00 million. The Company showed a positive 10.19% in the net profit margin as well as in its operating margin which remained at 9.91%. Company’s annual sales growth for the past five years was 15.04%.
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