Broadcom (BRCM) Numbers Lifted at BofA/Merrill Lynch on Baseband Exit

Exane BNP Paribas Upgrades Broadcom (BRCM) to Neutral

Exane BNP Paribas upgraded Broadcom (NASDAQ: BRCM) from Underperform to Neutral with a price target of $35.00 (from $26.00).

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 $37.07 yesterday.

Barclays Upgrades Broadcom (BRCM) to Equalweight

Barclays upgraded Broadcom (NASDAQ: BRCM) from Underweight to Equalweight with a price target of $40.00 (from $28.00).

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 $37.07 yesterday.

Wedbush Upgrades Broadcom (BRCM) to Outperform

Wedbush upgraded Broadcom (NASDAQ: BRCM) from Neutral to Outperform with a price target of $43.00 (from $30.00).

Analyst Betsy Van Hees said, "Upgrading Broadcom to OUTPERFORM (from NEUTRAL) and increase PT to... More

Cowen Lifts PT on Broadcom (BRCM) to $39; Turning into Better M&A Candidate

Cowen 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

Wells Fargo Downgrades Broadcom (BRCM) to Underperform

Wells Fargo downgraded Broadcom (NASDAQ: BRCM) from Market Perform to Underperform with a price target of $27-$29.

Analyst David Wong said, "Broadcom has announced that it is looking into selling or winding down its cellular baseband business. While we had thought that it was... More

More Catalysts for Broadcom (BRCM) Amid Baseband Divestiture, Baird Says; PT Raised to $45

Baird 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

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The following is a list of notable articles to help get you through the lunch hour:Start Menu Button Not Expected with Next Microsoft (MSFT) Windows 8.1 Update ->... More

Broadcom's (BRCM) Baseband Exit is Positive for Qualcomm (QCOM), Says Goldman Sachs

Goldman 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

Topeka 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): Wells Fargo Negative on Possible Exit from Baseband Business

On Monday Broadcom Corporation (NASDAQ: BRCM) announced it is exploring strategic alternatives for its cellular baseband business, including a potential sale or wind-down. In the view of Wells Fargo analyst David Wong, exiting the business will weaken Broadcom's competitive position in... More

Broadcom (BRCM) Will Explore Alternatives for Baseband Unit; Updates Outlook

Broadcom 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