Stock Alert: Broadcom Touches New Low

(RTTNews) - Shares of semiconductor company Broadcom Inc. (AVGO) fell $16.93 or 6.44% on Wednesday to hit a new low of $242.93 before closing at $245.97.

Shares of the chipmaker started nose-diving from mid-February, amid the coronavirus scare- nearly 25% loss in less than a month. The company has more than half revenue exposure to China.

It has traded in the range of $242.49- $331.58 in the past one year.

Broadcom manufactures semiconductor devices and analog devices and provides interfaces for computers' Bluetooth connectivity, routers, switches, processors, and fiber optics.

The company is scheduled to report its fourth-quarter and full-year results today, March 12, after the market close.

Broadcom expects to report full-year revenue of $22.5 billion. On average, 29 analysts polled by Thomson Reuters are expecting a revenue of $24.87 billion for the period.

The consensus estimate for earnings in the fourth quarter is at $5.33 and for revenue is at $6 billion.