FBR Capital Maintains an 'Outperform' on Broadcom (NASDAQ: BRCM); (Thankfully) It's Raining Tax and Opex Dollars

FBR Capital maintains an 'Outperform' on Broadcom (NASDAQ: BRCM), lowers PT from $49 to $48.

FBR analyst says, "We remain constructive on BRCM given the firm’s vast product cycles (combo chips, baseband chips, triple-play parts, others), growing strategic importance to electronics OEMs and investors alike, important Apple (Nasdaq: AAPL) exposure, and improving financial management and corporate governance (new 1% annual dividend, now operating at target margins, reporting GAAP financial results). For longer-term investors, Broadcom is a standout grower within the chip sector, appropriate for growth and GARP-oriented investors."

For more ratings news on Broadcom click here and for the rating history of Broadcom click here.

Shares of Broadcom closed at $40.41 yesterday.

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