PREVIEW: Broadcom shares up 1%; results due after the bell

Shares of Broadcom AVGO.O were up 1% on Thurs, with the semiconductor manufacturing co seen reporting a rise in qtrly rev and EPS when it reports results after the closing bell

The co is expected to report an increase in Q2 revenue to $14.993 bln from $12.487 bln in the yr-ago qtr, and it is expected to post adj EPS of $1.56/shr vs $1.10 a yr ago, according to LSEG.

The co has beaten analysts' earnings expectations in all of the past eight reporting periods

Analyst recommendations on AVGO include 38 "strong buy" or "buy" ratings and four "hold" ratings

The median 12-mo price target on Broadcom is $250​; the stock was last at $263.71

"The table is clearly set for a potentially large breakout. Shares broke above a key resistance area just under $250. It couldn’t break through last week, could earnings be the catalyst for getting it over the top," writes Jay Woods, chief global strategist at Freedom Capital Markets, in note Thurs.

Including the session move, AVGO is up about 14% YTD compared with a roughly 1.5% gain in the Nasdaq .IXIC in that period