Is Broadcom Stock a Buy?

Broadcom 's (NASDAQ: AVGO) stock has more than doubled over the past five years as the chipmaker, formerly known as Avago, expanded via a series of major acquisitions. Avago bought Broadcom for $37 billion in 2016, assumed its name, and relocated its legal address from Singapore to Delaware the following year.

It subsequently bought Brocade for $5.5 billion in 2017, CA Technologies for $18.9 billion in 2018, and Symantec's enterprise security business for $10.7 billion in 2019. It also nearly bought Qualcomm (NASDAQ: QCOM) before the Trump administration blocked the $117 billion hostile bid on national security concerns.

Those deals turned Broadcom into one of the world's largest chipmakers, but its stock still looks surprisingly cheap at 12 times forward earnings with a forward yield of 5%. Should investors accumulate more shares at these levels, or will the massive chipmaker struggle with the COVID-19 headwinds?