Broadcom (BRCM) was lowered to a hold from buy, and its price target cut, by Canaccord Genuity, which said it sees limited chances for any upside surprises in the near term. Canaccord analyst Matthew Ramsay, however, said in a research note that Broadcom is well positioned for long-term growth, with solid business fundamentals. Much of its good news is already reflected in the stock price, though, so “we believe other stocks in our coverage
Chipmaker Broadcom is giving cable TV firms ammunition to battle Google’s broadband offensive. Whether they use it might depend on the search leader’s plans to expand its 1 gigabit broadband Internet service into more U.S. markets. Broadcom (BRCM) says a chip that supports the cable TV industry’s “Gigasphere” standard, also called Docsis 3.1, will ship commercially this year. Arris Group (ARRS) and others are expected to build the chip into
Broadcom (BRCM) got an upgrade and price-target hike Monday from investment bank Evercore ISI, which cited the chipmaker’s raised guidance and dividend, as well as its stock buyback plan. At its annual analyst day Tuesday, Broadcom announced a $1 billion share buyback plan and increased its Q4 revenue guidance to $2.08 billion-$2.15 billion from $2 billion-$2.15 billion. Analysts polled by Thomson Reuters have forecast $2.1 billion. The company