UPDATE: Pacific Crest Cuts Broadcom (BRCM) to Sector Perform, Apple (AAPL) May Seek In-House Connectivity Solutions

(Updated - July 23, 2013 10:36 AM EDT)

Pacific Crest downgraded Broadcom (NASDAQ: BRCM) from Outperform to Sector Perform. Analyst Michael McConnell said news Texas Instruments Inc. (Nasdaq: TXN) was licensing technology to an OEM customer along with recent hiring at Apple (Nasdaq: AAPL) increases risk Apple will seek in-house connectivity solutions.

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 $33.69 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• JPMorgan Downgrades Monster Beverage (MNST) to Neutral, 'Cost Pressures and Weaker Low-end Consumer'
• First Cash Financial (FCFS) PT Lowered to $140 at TD Cowen
• Acrivon Therapeutics Inc (ACRV) PT Lowered to $22 at Jones Trading