Nomura Securities Maintains a 'Buy' on Broadcom (BRCM); Acquisition Helps See The Light

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Nomura Securities maintains a 'Buy' on Broadcom (NASDAQ: BRCM) price target of $45.00.

Analyst, Romit Shah, sees the announcement from BRCM to acquire Broadlight for $195 mln as a positive, seeing it as a complementary to BRCM's fiber access portfolio. The recent addition of China Telecom (NYSE: CHL) as a new Broadlight customer also helps, especially in a market with competitors like Marvell (Nasdaq: MRVL)(Reduce-rated, $13 PT) and PMC-Sierra (Nasdaq: PMCS)(Not-rated).

For an analyst ratings summary and ratings history on Broadcom click here. For more ratings news on Broadcom click here.

Shares of Broadcom closed at $38.39 yesterday, with a 52 week range of $27.59-$41.44.

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