For Immediate Release
Chicago, IL –June 01, 2017 – Today, Zacks Investment Ideas feature highlights Features: Sequans Communications (SQNS – Free Report), Analog Devices (ADI – Free Report) and Broadcom (NASDAQ:AVGO) (AVGO – Free Repor ).
3 Chips for “Rips,” Not “Dips”
I used to think that chips were for dips. My thinking has changed. Chips are for rips! The semiconductor space is routinely at the top of the Zacks Industry Rank and the sector has several high double digit winners already this year. Let’s take a look at some recent earnings reports from select chip names that might be great additions to your portfolio.
Sequans Communications (SQNS – Free Report ) reported a beat on top and on bottom on May 2 and more recently the stock has seen a huge move higher. One of the reasons this stock should be on your radar screen is the heavy volume over the last few days that drove the stock higher. With an average volume of around 550K shares, the last few days saw volumes of 1.2M or more. On 5/31/17 the stock saw roughly average trading volume and slipped 4.5%, but don’t be surprised if this under the radar chip play reaches new highs in the coming week.
SQNS is a Zacks Rank #1 (Strong Buy).
Analog Devices (ADI – Free Report ) reported the morning of 5/31/17 and beat on top and on bottom. The company also raised guidance, and that is just what aggressive growth investors love to see. The stock traded to a new 52 week high of $90.49 but was unable to hold most of the early gains as shares drifted back down to the $86 handle. Look analysts to raise estimates on this stock and for the Zacks Rank to improve in the coming weeks.
ADI is currently a Zacks Rank #3 (Hold)
Broadcom (AVGO – Free Report) is slated to report after the close on Thursday, June 1. Wall Street is looking for revenue of $4.1B and EPS of $3.50. The stock is a Zacks Rank #3 (Hold) and the earnings ESP is a 0% suggesting that the most recent update to estimates is not suggesting a beat is more likely than a miss. The stock has been on a roll since mid-April and given the build for iPhone 8, investors could be expecting some big numbers. At the same time, AVGO trades at only 18.6x forward earnings, which is well below the 23.5x industry average.
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Sequans Communications S.A. (SQNS): Free Stock Analysis Report
Analog Devices, Inc. (ADI): Free Stock Analysis Report
Broadcom Limited (AVGO): Free Stock Analysis Report
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