Broadcom Downgraded at Susquehanna on Demand Slowdown (BRCM)

By Staff,

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Semiconductor maker Broadcom Corporation ( BRCM ) saw its rating cut on Tuesday by analysts at

The firm lowered its rating on BRCM to "Neutral" from "Positive," noting "Downgrading BRCM based on our checks suggesting a broader slowdown in end market demand. While our principal areas of concern thus far are not a large percentage of BRCM revenue, we nonetheless believe that a slowdown will make it difficult for the stock to outperform until these demand issues are resolved."

Broadcom shares were mostly flat in premarket trading Tuesday.

The Bottom Line
Shares of BRCM have a .98% dividend yield, based on last night's closing stock price of $32.58. The stock has technical support in the $28 price area. If the shares can firm up, we see overhead resistance around the $34-$36 price levels. We would remain on the sidelines for now.

Broadcom Corporation ( BRCM ) is not recommended at this time, holding a DARS™ Rating of 3.3 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing Stocks
Referenced Stocks: BRCM

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