Broadcom Inc. (AVGO) shares fell 4.76 percent to $347.01, outpacing broader market weakness. The S&P 500 dropped 0.4 percent, the Nasdaq fell 0.9 percent and the Dow rose 0.1 percent.
Despite Monday's decline, Broadcom is up 5.82 percent over the past month, outperforming the Computer and Technology sector, which has fallen 11.52 percent.
The company reports earnings on Dec. 9. For the upcoming quarter, analysts project $3.82 in EPS (up 95.9 percent year-over-year) and $34.86 billion in revenue (up 93.52 percent). Full-year estimates stand at $11.63 in EPS (up 70.53 percent) and $105.97 billion in revenue (up 65.87 percent).
The consensus EPS estimate has declined 0.79 percent over the past month—a signal that some analysts are taking a more cautious near-term view. Broadcom carries a Zacks Rank of #3 (Hold) and trades at a Forward P/E of 19.28, a discount to the semiconductor industry average of 27.7. The Electronics - Semiconductors industry ranks 39 out of 250, placing it in the top 16 percent.
