FBR Capital Maintains an 'Outperform' on Broadcom (BRCM); Story Still Intact; Adds to Top Pick List
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Price: $54.67 --0%
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 6 | Down: 4 | New: 7
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FBR Capital maintains an 'Outperform' on Broadcom (NASDAQ: BRCM), PT $48.
FBR analyst says, "We marketed with Broadcom's CFO Eric Brandt and institutional investors yesterday and are adding BRCM to our FBR Top Picks list as we remove Microsemi (Nasdaq: MSCC). Investors remain focused on wireless, specifically baseband growth opportunities and connectivity market share sustainability trends. In short, we believe Broadcom remains positioned to someday be the world's second-largest baseband supplier, behind Qualcomm, with the 3G/4G multi-mode baseband market likely to coalesce around Qualcomm (Nasdaq: QCOM), Broadcom, Intel (Nasdaq; INTC), and potentially ST-Ericsson (Nasdaq: ERIC) or Marvell (Nasdaq: MRVL). Cellular represents a large growth opportunity as Broadcom pushes into 4G more aggressively by 2013. Near term, we think baseband shipments seasonally improve in 2H11, and as new GSM customers in China ramp."
For more ratings news on Broadcom click here and for the rating history of Broadcom click here.
Shares of Broadcom closed at $34.65 yesterday.
FBR analyst says, "We marketed with Broadcom's CFO Eric Brandt and institutional investors yesterday and are adding BRCM to our FBR Top Picks list as we remove Microsemi (Nasdaq: MSCC). Investors remain focused on wireless, specifically baseband growth opportunities and connectivity market share sustainability trends. In short, we believe Broadcom remains positioned to someday be the world's second-largest baseband supplier, behind Qualcomm, with the 3G/4G multi-mode baseband market likely to coalesce around Qualcomm (Nasdaq: QCOM), Broadcom, Intel (Nasdaq; INTC), and potentially ST-Ericsson (Nasdaq: ERIC) or Marvell (Nasdaq: MRVL). Cellular represents a large growth opportunity as Broadcom pushes into 4G more aggressively by 2013. Near term, we think baseband shipments seasonally improve in 2H11, and as new GSM customers in China ramp."
For more ratings news on Broadcom click here and for the rating history of Broadcom click here.
Shares of Broadcom closed at $34.65 yesterday.
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