Nomura Reiterates Buy on Broadcom Corp (BRCM)

By admin | 6 years ago

Broadcom Corp (NASDAQ: BRCM)‘s stock had its “buy” rating restated by analysts at Nomura (NYSE: NMR) in a research report issued to clients and investors on Monday.

A number of other firms have also recently commented on BRCM. Analysts at Credit Agricole upgraded shares of Broadcom Corp from an “underperform” rating to an “outperform” rating in a research note to investors on Tuesday, May 29th. Separately, analysts at CLSA upgraded shares of Broadcom Corp from an “underperform” rating to an “outperform” rating in a research note to investors on Tuesday, May 29th. Finally, analysts at BMO Capital Markets raised their price target on shares of Broadcom Corp to $44.00 in a research note to investors on Wednesday, May 2nd. They now have an “outperform” rating on the stock.

Broadcom Corp traded up 1.56% on Monday, hitting $32.52. Broadcom Corp has a 52-week low of $27.59 and a 52-week high of $39.66. The company has a market cap of $17.919 billion and a price-to-earnings ratio of 22.94.

Broadcom Corp last posted its quarterly earnings results on Tuesday, May 1st. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.10. The company’s revenue for the quarter was up .6% on a year-over-year basis. Analysts expect that Broadcom Corp will post $0.79 EPS next quarter.

Broadcom Corporation (Broadcom) is a global semiconductor solution for wired and wireless communications.

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