The Zacks Analyst Blog Highlights Broadcom, TotalEnergies, Lam Research, Dell Technologies and Canadian Natural Resources

For Immediate Release

Chicago, IL – March 5, 2024 – announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Broadcom Inc. AVGO, TotalEnergies SE TTE, Lam Research Corp. LRCX, Dell Technologies Inc. DELL and Canadian Natural Resources Ltd. CNQ.

Here are highlights from Monday’s Analyst Blog:

Top Research Reports for Broadcom, TotalEnergies and Lam Research

The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Broadcom Inc. (AVGO), TotalEnergies SE and Lam Research Corp. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.

You can see all of today’s research reports here >>>

Broadcom’s shares have outperformed the Zacks Electronics - Semiconductors industry over the past year (+126.1% vs. +107.0%). The company is benefiting from the strong deployment of generative AI, which it expects to contribute more than 25% of semiconductor revenues in fiscal 2024.

VMware is expected to contribute $12 billion to revenues. Infrastructure software revenues are expected to be $20 billion while semiconductor solutions revenues are expected to increase in the mid to high-single-digit percentage range on a year-over-year basis in fiscal 2024.

Broadcom expects networking revenues to grow nearly 30% year over year in fiscal 2024, driven by accelerating deployment of networking connectivity and expansion of AI accelerators in hyperscalers. Wireless revenues are expected to remain stable on a year-over-year basis. However, server storage, broadband and industrial are expected to decline.

(You can read the full research report on Broadcom here >>>)

Shares of TotalEnergies have gained +5.5% over the past year against the Zacks Oil and Gas - Refining and Marketing industry’s gain of +7.9%. The company continues to benefit from startups, well-spread LNG assets and contribution from upstream assets located in the new hydrocarbon-producing regions.

Multi-energy assets act as a tailwind for TotalEnergies. Acquisitions and divestitures allow the company to streamline its assets. It is steadily investing to expand its renewable operation and aims to achieve net-zero emissions by 2050.

The company’s production might be impacted by security-reasons in some regions. The company remains exposed to acquisition-related risks as these assets contribute a sizable volume to production. A natural decline in production and its withdrawal from Russia might affect profitability.

(You can read the full research report on TotalEnergies here >>>)

Lam Research’s shares have outperformed the Zacks Semiconductor Equipment - Wafer Fabrication industry over the past year (+104.7% vs. +72.3%). The company is benefiting from strength across 3D DRAM and advanced packaging technologies. Growing etch and deposition intensity owing to increasing technology inflections in 3D architectures, is a positive.

However, weakness in the systems business, primarily due to sluggish memory spending, is a major concern. Although sluggish wafer fabrication equipment spending remains a concern, improvement in the outlook for the same owing to modest memory recovery, is a positive.

For 2024, WFE spending is expected to be in the mid-high $80 billion range. NAND is expected to benefit from technology upgrades, while DRAM is likely to benefit from node conversions and capacity additions in HBM. Meanwhile, Lam Research's leading-edge investments are likely to benefit the Foundry/Logic category.

(You can read the full research report on Lam Research here >>>)

Other noteworthy reports we are featuring today include Dell Technologies Inc. and Canadian Natural Resources Ltd.

Why Haven’t You Looked at Zacks' Top Stocks?

Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.

Today you can access their live picks without cost or obligation.

See Stocks Free >>

Media Contact

Zacks Investment Research

800-767-3771 ext. 9339

Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit for information about the performance numbers displayed in this press release.

Just Released: Zacks Top 10 Stocks for 2024

Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.

See New Top 10 Stocks >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Dell Technologies Inc. (DELL) : Free Stock Analysis Report

Lam Research Corporation (LRCX) : Free Stock Analysis Report

Canadian Natural Resources Limited (CNQ) : Free Stock Analysis Report

Broadcom Inc. (AVGO) : Free Stock Analysis Report

TotalEnergies SE Sponsored ADR (TTE) : Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.