Broadcom (BRCM): Wells Fargo Negative on Possible Exit from Baseband Business
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 8/20/2026
- Wall St set for lower open as bond yields climb; Walmart falls
- Walmart shares fall despite earnings beat
- Alibaba stock dips as Q2 profit misses estimates despite strong AI cloud growth
- Wolfe remains "broadly bullish on AI semis stocks", names Top Pick
- Moderna stock pulls back after massive one-day rally: analysts weigh in
- Marvell issues Google warrant tied to custom chip deal
- FOMC minutes from July 28-29th meeting
- US stock futures steady after tech slump; investors focus on Middle East tensions
- Lowe's Cos. (LOW) Tops Q2 EPS by 17c, Misses on Revenue; Offers Fy27 Guidance
- Deutsche Bank calls Treasury buyback doubling similar to ’operation twist’
CLSA Upgrades Broadcom (BRCM) to Buy
June 3, 2014 8:40 AM EDTCLSA upgraded Broadcom (NASDAQ: BRCM) from Outperform to Buy.
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 $34.84 yesterday.
... MoreBroadcom (BRCM) Numbers Lifted at BofA/Merrill Lynch on Baseband Exit
June 3, 2014 6:37 AM EDTBofA/Merrill Lynch analyst Vivek Arya reiterated a Buy rating, raised estimates and raised his price target on Broadcom (NASDAQ: BRCM) to $42.00 (from $32.00) after the company announced it is exiting its money losing mobile baseband business.
"The exit improves profitability but would... More
Cowen Lifts PT on Broadcom (BRCM) to $39; Turning into Better M&A Candidate
June 2, 2014 3:48 PM EDTCowen and Company is boosting its price target on Broadcom (Nasdaq: BRCM) from $32 up to $39 while maintaining an Outperform rating after the company announced it is exploring strategic alternatives for its cellular baseband business, including a potential sale or wind-down. The company has engaged... More
More Catalysts for Broadcom (BRCM) Amid Baseband Divestiture, Baird Says; PT Raised to $45
June 2, 2014 12:37 PM EDTBaird analyst Tristan Gerra reiterated an Outperform rating and boosted his price target on Broadcom (NASDAQ: BRCM) to $45.00 (from $35.00) amid news the company will divest its cellular baseband business. The analyst sees additional stock catalysts to drive shares higher.
"We now believe... More
Broadcom's (BRCM) Baseband Exit is Positive for Qualcomm (QCOM), Says Goldman Sachs
June 2, 2014 11:27 AM EDTGoldman Sachs maintained a Conviction Buy on Qualcomm (NASDAQ: QCOM) with a price target of $90. Analyst Simona Jankowski thinks Broadcoms (NASDAQ: BRCM) possible baseband exit is positive for Qualcomm.
"Broadcoms exit from the baseband business reinforces our stronger for longer thesis on Qualcomms chipset business both in terms of its baseband market share, and in terms of... More
Broadcom (BRCM) PT Raised to $40 at Topeka Capital
June 2, 2014 10:33 AM EDTTopeka Capital maintained a Buy rating on Broadcom (NASDAQ: BRCM) and raised its price target to $40.00 (from $35.00).
Analyst Suji De Silva said, "This morning BRCM announced it is exploring strategic alternatives for its cellular baseband business. We believe an intensifying handset chipset competitive... More
Broadcom (BRCM) Will Explore Alternatives for Baseband Unit; Updates Outlook
June 2, 2014 7:02 AM EDTBroadcom Corporation (Nasdaq: BRCM) announced it is exploring strategic alternatives for its cellular baseband business, including a potential sale or wind-down. The company has engaged investment bank JP Morgan in connection with its efforts.
The successful sale or wind-down of the cellular baseband business is currently expected to result in a roughly $700 million reduction in annualized GAAP research and development and selling, general and administrative expenses, of which approximately $100 million relates to estimated reductions in stock-based compensation. As such, non-GAAP research and development and selling,... More
