Broadcom Corp Receives “Buy” Rating from TheStreet (BRCM)
Broadcom Corp (NASDAQ: BRCM)‘s stock had its “buy” rating reaffirmed by TheStreet in a research note issued on Thursday.
The analysts wrote, “Broadcom Corporation (BRCM) has been reiterated by TheStreet Ratings as a buy with a ratings score of B . The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.”
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital reiterated an “outperform” rating on shares of Broadcom Corp in a research note to investors on Wednesday. They now have a $45.00 price target on the stock. Separately, analysts at Cowen reiterated an “outperform” rating on shares of Broadcom Corp in a research note to investors on Monday, March 4th. Finally, analysts at Piper Jaffray initiated coverage on shares of Broadcom Corp in a research note to investors on Friday, February 22nd. They set an “overweight” rating and a $50.00 price target on the stock.
Thirty-seven equities research analysts have rated the stock with a buy rating, four have assigned an overweight rating, four have assigned a hold rating, and one has given a sell rating to the stock. The stock presently has a consensus rating of “buy” and a consensus price target of $40.67.
Shares of Broadcom Corp traded up 0.10% during mid-day trading on Thursday, hitting $35.09. Broadcom Corp has a one year low of $28.60 and a one year high of $39.66. The stock’s 50-day moving average is currently $33.7. The company has a market cap of $19.966 billion and a P/E ratio of 28.04.
Broadcom Corp last posted its quarterly earnings results on Tuesday, January 29th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the company posted $0.68 earnings per share. Broadcom Corp’s revenue was up 14.3% compared to the same quarter last year. On average, analysts predict that Broadcom Corp will post $2.78 earnings per share for the current fiscal year.
Broadcom Corporation (Broadcom) is a global semiconductor solution for wired and wireless communications.
To view TheStreet’s full report, visit www.thestreetratings.com
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