Broadcom (BRCM) Declines; Barclays Notes Loss in Samsung Device (QCOM)

July 17, 2013 11:18 AM EDT
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Price: $54.67 --0%

Rating Summary:
    22 Buy, 32 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 30 | New: 8
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Shares of Broadcom Corp. (Nasdaq: BRCM) declined on Wednesday after Barclays analyst Blayne Curtis said a teardown of Samsung's Galaxy S4 mini (3G dual sim variant) showed the device includes a Qualcomm (Nasdaq: QCOM) WLAN combo chip instead of a Broadcom combo chip.

In his view, the loss may be a sign of more to come. Curtis wouldn't rule out more losses at Apple (Nasdaq: AAPL) or Samsung as early as next year.

Barclays has an Underweight rating on Broadcom with a price target of $28.00

For an analyst ratings summary and ratings history on Broadcom (NASDAQ: BRCM) click here. For more ratings news on Broadcom click here.

Shares of Broadcom closed at $34.85 yesterday.

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