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News Breaks | | | | January 29, 2013 | | 13:07 EDT |  | BRCM | Earnings Preview: Broadcom to report how sales to Apple, others impacted Q4
Broadcom (BRCM) is expected to report Q4 earnings after the close on Tuesday, January 29, with a conference call scheduled for 4:45 pm ET. Broadcom is a global semiconductor company that operates in three segments: Broadband Communications, Mobile & Wireless, and Infrastructure & Networking... EXPECTATIONS: Analysts are looking for earnings per share of 73c on revenue of $2.07B. The consensus range is 64c-81c for EPS on revenue of $2.02B-$2.35B, according to First Call. Along with its Q3 earnings, Broadcom said it expected Q4 revenue of about $1.95B-$2.1B. During its analyst day in December, Broadcom narrowed that revenue view to $2B-$2.1B, citing slightly better-than-expected revenue in its Mobile & Wireless business... LAST QUARTER: Broadcom reported adjusted Q3 EPS of 79c on revenue of $2.13B, which beat the consensus expectations at that time in October. Broadcom reported an adjusted product gross margin of 52.1% for Q3 and guided its adjusted product gross margin to be flat to up slightly sequentially in Q4... RESEARCH: Early this month, Citigroup removed Broadcom (BRCM) from its Top Picks Live list in favor or Qualcomm (QCOM). However, Citi maintained a Buy rating and $41 price target on Broadcom shares. During this month, a number of moves lower made by Broadcom's stock have been attributed to weakness in Apple (AAPL), one of its key customers. However, in a note to investors sent about a week before Apple reported its own quarterly results, Pacific Crest said Broadcom should be bought on iPhone related weakness. Pacific Crest analyst Michael McConnell wrote at that time that growth in Samsung smartphones and Apple's iPad should offset any weakness for Broadcom caused by slower iPhone growth. Pacific Crest maintains an Outperform rating on Broadcom... PRICE ACTION: Since the day after Apple (AAPL) reported its disappointing revenue and guidance, January 24, Broadcom shares are down a bit over 3%. However, even with that recent weakness, Broadcom's stock has risen over 1.5% since the day after its last quarterly report. In early afternoon trading ahead of tonight's report, Broadcom is down about 0.4% to $33.92. | |
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News For BRCM From The Last 14 Days Check below for free stories on BRCM the last two weeks. |
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| May 23, 2013 | | 11:31 EDT |  | BRCM | Cirrus Logic tumbles after reducing long-term margin outlook
 Subscribe for More Information | | | May 22, 2013 | | 07:24 EDT |  | BRCM | NetEvents International to host a summit
Subscribe for More Information | | | 07:21 EDT | | BRCM | MIT Sloan Alumni Club of Boston to hold a symposium
Subscribe for More Information | | | May 16, 2013 | | 14:41 EDT | | BRCM | Broadcom management to meet with JPMorgan
Subscribe for More Information | | | 10:44 EDT | | BRCM | Cisco results give boost to semiconductor names
Subscribe for More Information | | | 09:04 EDT |  | BRCM | Cisco results positive for semiconductors space, says Brean Capital
Subscribe for More Information | | | 07:07 EDT | | BRCM | Cisco results positive for communications semi space, says William Blair
Subscribe for More Information | | | May 9, 2013 | | 09:00 EDT | | BRCM | Broadcom well-positioned, remains ahead of competition, says DA Davidson
After meeting with Broadcom's EVP and General Manager of the Infrastructure and Networking Group, DA Davidson believes that the company is adding new features to its products that are enabling it to continue to stay ahead of the competition. The firm thinks the company's Trident products and NetLogic divisions are very well-positioned, and it keeps a Buy rating on the shares. | |
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