On Thursday, Broadcom Inc. (NASDAQ:AVGO) shares spiked by more than 6% after announcing solid FQ4 results. The company released its most recent quarterly results after the close, beating analyst expectations on revenue and earnings. Broadcom also announced a massive $10 billion share repurchase authorization while also raising its quarterly dividend by 13.9%.

The company posted FQ4 non-GAAP earnings per share of $7.81, exceeding analyst expectations of $7.77. On the other hand, its GAAP EPS of $4.45 failed to match the expectation of $4.53, while revenue for the quarter surged 14.4% from the same quarter a year ago to $7.4 billion, exceeding Street expectations by $40 million.

Broadcom increased its quarterly dividend to $4.10 per share from $3.60, implying s forward yield of 2.81% based on Thursday’s closing price.

Is it too late to buy?

From an investment perspective, Broadcom shares trade at reasonable trailing 12-month and forward P/E ratios of 43.22 and 18.77, respectively. Therefore, the stock could gain the interest of value investors.

In addition, its forecast 5-year annual growth rate of about 14.74% compared to 5% in the previous five could be a compelling catalyst to long-term growth investors.

Technically, Broadcom shares seem to be trading just below an ascending channel formation in the intraday chart. However, the stock recently rejected a reentry despite spiking to trade deep into overbought conditions.

Therefore, investors could target potential pullback profits at about $571.38, or lower at $553.07, while $596.03 and $612.98 are crucial resistance zones.

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