In the latest trading session, Broadcom Inc. (AVGO) closed at $468.07, marking a -1.94% move from the previous day. This move lagged the S&P 500's daily loss of 0.75%.Heading into today, shares of the chipmaker had gained 1.31% over the past month, lagging the Computer and Technology sector's gain of 3.03% and the S&P 500's gain of 2.74% in that time.AVGO will be looking to display strength as it nears its next earnings release. In that report, analysts expect AVGO to post earnings of $6.88 per share. This would mark year-over-year growth of 27.41%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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 help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. AVGO is currently sporting a Zacks Rank of #2 (Buy).In terms of valuation, AVGO is currently trading at a Forward P/E ratio of 17.31. This valuation marks a discount compared to its industry's average Forward P/E of 17.95.It is also worth noting that AVGO currently has a PEG ratio of 1.15. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. AVGO's industry had an average PEG ratio of 1.52 as of yesterday's close.The Electronics - Semiconductors industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 123, which puts it in the top 49% of all 250+ industries.The Zacks Industry Rank gauges the strength of our 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.To follow AVGO in the coming trading sessions, be sure to utilize Zacks.com. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>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.