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IIVI - Broadcom's Preferreds Are Worth A Look As The Common Shares Continue To Lag
II-VI Incorporated
Broadcom produced a small beat-and-raise for the fiscal fourth quarter, with ongoing strength in enterprise networking driving a lot of the growth.
The preferred shares offer an above-average yield with minimal practical risk that Broadcom will be unable to pay.
Broadcom's preferreds look undervalued on the basis of the underlying value of the common shares and the expected dividends ahead of the September 2022 conversion.