Broadcom Inc. (AVGO) closed at $485.75 in the latest trading session, marking a +1.16% move from the prior day. This change outpaced the S&P 500's 0.35% gain on the day.Coming into today, shares of the chipmaker had gained 2.01% in the past month. In that same time, the Computer and Technology sector gained 5.62%, while the S&P 500 gained 3.64%.AVGO will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $6.88, up 27.41% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.76 billion, up 16.06% from the year-ago period.For the full year, our Zacks Consensus Estimates are projecting earnings of $27.58 per share and revenue of $27.24 billion, which would represent changes of +24.46% and +14.05%, respectively, from the prior year.It is also important to note the recent changes to analyst estimates for AVGO. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. AVGO is currently a Zacks Rank #2 (Buy).Digging into valuation, AVGO currently has a Forward P/E ratio of 17.41. For comparison, its industry has an average Forward P/E of 18.24, which means AVGO is trading at a discount to the group.Meanwhile, AVGO's PEG ratio is currently 1.16. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Electronics - Semiconductors was holding an average PEG ratio of 1.56 at yesterday's closing price.The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 116, which puts it in the top 46% of all 250+ industries.The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>>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 Broadcom Inc. (AVGO): Free Stock Analysis Report To read this article on Zacks.com click here.