Nomura Securities Maintains a 'Buy' on Broadcom (BRCM); Takeaways from Management Meeting
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Price: $54.67 --0%
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
15 Buy, 29 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Nomura Securities maintains a 'Buy' on Broadcom (NASDAQ: BRCM) price target of $45.00.
Nomura analyst, Romit Shah, said, "We met with Broadcom’s CFO and GM of the Infrastructure and Networking Group to discuss the Netlogic acquisition. Netlogic significantly expands Broadcom’s addressable market in infrastructure. With Netlogic’s embedded processors, Broadcom has one of the most complete product portfolios in the marketplace. Financially, Broadcom believes it will have adequate cash ($1-1.5bn) post-close. In the case where business slows down in the next 6 months, Broadcom is open to finance the U.S. operations with debt. Beyond Q3, management noted there are more uncertainties than normal with regards to consumer spending."
For more ratings news on Broadcom click here and for the rating history of Broadcom click here.
Shares of Broadcom closed at $34.22 yesterday.
Nomura analyst, Romit Shah, said, "We met with Broadcom’s CFO and GM of the Infrastructure and Networking Group to discuss the Netlogic acquisition. Netlogic significantly expands Broadcom’s addressable market in infrastructure. With Netlogic’s embedded processors, Broadcom has one of the most complete product portfolios in the marketplace. Financially, Broadcom believes it will have adequate cash ($1-1.5bn) post-close. In the case where business slows down in the next 6 months, Broadcom is open to finance the U.S. operations with debt. Beyond Q3, management noted there are more uncertainties than normal with regards to consumer spending."
For more ratings news on Broadcom click here and for the rating history of Broadcom click here.
Shares of Broadcom closed at $34.22 yesterday.
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