Piper Jaffray Maintains Buy Rating on Broadcom (BRCM), Adds BRCM to the Alpha List
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Piper Jaffray & Co. maintains a Buy rating on Broadcom (Nasdaq: BRCM), Adds BRCM to the Alpha List - Stock Price No Longer Reflecting.
Piper analyst says, "Broadcom is well-positioned to benefit from several upcoming product cycles...We also expect gross margin improvements driven by TSMC's (supplier) wafer price concessions to win back Broadcom's business...Believe business trends stronger than what is reflected in current share price...Recent slide in share price puts valuation of shares and peers at trough levels."
Broadcom Corporation (Broadcom) is a provider of semiconductors for wired and wireless communications.
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