One company that should be on your radar is Broadcom Corp. ( BRCM ). The stock of this provider of semiconductor solutions to wireless and wired communications has seen its Zacks Rank surge over the past four weeks, moving from Hold to its current position as a Strong Buy.
A key reason for this move has been the positive trend in the earnings estimate revisions picture. For BRCM's full year estimate, we have seen 9 estimates go higher in the past 30 days, compared to no downward revision. This trend has helped the consensus estimate to trend higher, going from $1.78 a share a month ago to its current level at $1.84.
This positive shift in estimates has made some investors take notice and buy the stock. In fact, BRCM has seen some pretty solid trading lately, as the company has moved higher by 10.3% in the past month.
If Broadcom can keep up this great momentum on the earnings estimate front and continue to impress analysts, we could see more gains ahead for this company, suggesting that you might want to put BRCM on your watch list for the future.
Other top-ranked stocks worth considering in this space include Spansion Inc. ( CODE ), Blucora, Inc. ( BCOR ) and Marvell Technology Group Ltd. ( MRVL ). While Spansion Inc. and Blucora, Inc. hold a Zacks Rank #1 (Strong Buy), Marvell Technology carries a Zacks Rank #2 (Buy).
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