Needham & Company Maintains a 'Buy' on Broadcom (BRCM); Extending Its Competitive Advantage - Analyst Day Highlights
Tweet
Share
E-mailGet Alerts BRCM Hot Sheet
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
Join SI Premium – FREE
Needham & Company maintains a 'Buy' on Broadcom (NASDAQ: BRCM) price target of $40.00.
Needham analyst says, "Broadcom held its annual investor day in New York yesterday with a focus on extending its competitive advantage. Management is not wavering from its proven growth strategy. Broadcom’s goal remains to grow faster than the semiconductor market and its peers by 1) broadening and deepening its intellectual property portfolio, 2) developing more highly integrated SoCs and 3) offering complete system solutions. Through successful execution of this strategy, we expect Broadcom to continue to gain share from smaller competitors with more limited IP and product portfolios. We note Broadcom’s strategy has enabled the company to outgrow the broader semiconductor market in 15 of the past 16 years."
Needham raises FY11 EPS estimate from $2.81 to $2.87 and FY12 from $2.50 to $2.55.
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 $28.45 yesterday.
Needham analyst says, "Broadcom held its annual investor day in New York yesterday with a focus on extending its competitive advantage. Management is not wavering from its proven growth strategy. Broadcom’s goal remains to grow faster than the semiconductor market and its peers by 1) broadening and deepening its intellectual property portfolio, 2) developing more highly integrated SoCs and 3) offering complete system solutions. Through successful execution of this strategy, we expect Broadcom to continue to gain share from smaller competitors with more limited IP and product portfolios. We note Broadcom’s strategy has enabled the company to outgrow the broader semiconductor market in 15 of the past 16 years."
Needham raises FY11 EPS estimate from $2.81 to $2.87 and FY12 from $2.50 to $2.55.
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 $28.45 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Coherent (COHR) PT Raised to $420 at Needham
- Needham Reiterates Buy Rating on Digimarc (DMRC)
- Alpha & Omega Semiconductor (AOSL) PT Lowered to $45 at Needham
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
Needham & CompanySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
