Broadcom Inc (NASDAQ:AVGO) shares are trading lower by 2.10% to $540.04 Wednesday afternoon. Shares of semiconductor companies at large are trading lower in sympathy with Analog Devices, which fell after the company reported third-quarter earnings results.
What Happened?
Analog Devices reported quarterly earnings of $2.52 per share which beat the analyst consensus estimate of $2.43. This represents an increase over earnings of $1.72 per share from the same period last year.
The company also reported quarterly sales of $3.11 billion which beat the analyst consensus estimate of $3.05 billion by 2%. This sales figure represents a 77% increase over sales of $1.76 billion in the same period last year… Read More
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According to data from Benzinga Pro, Broadcom has a 52-week high of $677.76 and a 52-week low of $462.66.
