On Dec 24, Zacks Investment Research upgraded
) to a Zacks Rank #1 (Strong Buy). This semiconductor
manufacturer was upgraded on the back of its solid third quarter
2013 results and new technology adoption in emerging markets.
Why the Upgrade?
Aided by a notable increase in revenue, Broadcom reported GAAP
net income of $316 million or 55 cents per share in third quarter
2013 versus $220 million or 38 cents a share in the year-ago
quarter. The year-over-year jump in earnings was primarily
attributable to a better-than-expected performance across the
The company is well-positioned in the fast-growing wired and
wireless communications markets, with cutting-edge solutions for
an increased number of connected users that require more content
Broadcom expects a steady momentum in broadband in the coming
quarters, driven by more market penetration in emerging markets
and new technology adoption in developed markets. The company
intends to work diligently to deliver healthy LTE (Long Term
Evolution) revenues in early 2014, while focusing on data center
innovation and next generation home video products with HEVC
(High Efficiency Video Coding). Broadcom expects total revenue to
be in the range of $2.0 billion to $2.05 billion in fourth
quarter 2013. Earlier, Broadcom expected total revenue to be
around $1.975 billion.
In addition, Broadcom continues to drive innovation and
engineering excellence across a broad range of communication end
markets to help its customers enhance device performance and
improve overall power efficiency. The innovative technologies
related to connectivity, bandwidth and content enable the company
to capture a sizeable market share.
Based in Irvine, CA, Broadcom primarily designs and markets
semiconductor components that are used in various applications in
network voice, video, and data traffic.
Other stocks that look promising and are worth a look in the
Marvell Technology Group Ltd
), carrying a Zacks Rank #1 (Strong Buy), and
Ikanos Communications, Inc
CGI Group, Inc
), both carrying a Zacks Rank #2 (Buy).
BROADCOM CORP-A (BRCM): Free Stock Analysis
CGI GRP INC -A (GIB): Free Stock Analysis
IKANOS COMM INC (IKAN): Get Free Report
MARVELL TECH GP (MRVL): Free Stock Analysis
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