Several media reports suggest that cybersecurity firm Symantec Corp. could be bought by semiconductor company Broadcom.
Citing sources familiar with the matter, a Bloomberg report indicates that the two companies are in advanced talks. Broadcom apparently seeks to diversify into software services to boost profits.
Last year, Broadcom had acquired another software company, CA Technologies for $18 billion.
Acquiring Symantec could potentially be a further substantial expansion of Broadcom’s footprint in the software industry. According to its annual report, Symantec provides cybersecurity products and services to more than 350,000 organizations and 50 million people. It is the world’s largest producer of cybersecurity software.
However, Symantec had its share of challenges in the past year, including the abrupt departure of its chief executive officer and a financial investigation that led to restated earnings.
On Wednesday, Symantec shares soared more than +13%, while Broadcom’s fell more than -3%.
AVGO saw its Momentum Indicator move above the 0 level on May 03, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 96 similar instances where the indicator turned positive. In of the 96 cases, the stock moved higher in the following days. The odds of a move higher are at .
The Moving Average Convergence Divergence (MACD) for AVGO just turned positive on May 06, 2024. Looking at past instances where AVGO's MACD turned positive, the stock continued to rise in of 52 cases over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AVGO advanced for three days, in of 347 cases, the price rose further within the following month. The odds of a continued upward trend are .
AVGO may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In of 70 cases where AVGO's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are .
AVGO moved below its 50-day moving average on May 07, 2024 date and that indicates a change from an upward trend to a downward trend.
The 10-day moving average for AVGO crossed bearishly below the 50-day moving average on April 22, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 16 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AVGO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating low risk on high returns. The average Profit vs. Risk Rating rating for the industry is 62, placing this stock better than average.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (8.591) is normal, around the industry mean (6.962). P/E Ratio (48.409) is within average values for comparable stocks, (61.324). Projected Growth (PEG Ratio) (1.510) is also within normal values, averaging (3.256). Dividend Yield (0.015) settles around the average of (0.021) among similar stocks. P/S Ratio (14.641) is also within normal values, averaging (32.947).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. AVGO’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating strong sales and a profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a manufacturer of digital and analog semiconductor products
Industry Semiconductors