Analysts Say Broadcom (BRCM) Remains Prefered Large Cap Semiconductor Stock

Needham & Company maintained a Buy on Broadcom (NASDAQ: BRCM), calling it "our favorite large cap semiconductor stock". Analyst revised their price target to $39.00 (from $41.00) to reflect slowing trends in the sector.

"Broadcom's results once again highlight its ability to grow revenue faster than industry peers despite continued macroeconomic headwinds. Benefiting from a well positioned product portfolio and a strategy of targeting higher growth segments, BRCM should continue to grow faster than the semiconductor industry in our opinion," said analyst N. Quinn Bolton.

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 $33.36 yesterday.

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