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News Breaks
January 29, 2013
13:07 EDTBRCMEarnings 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.
News For BRCM From The Last 14 Days
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May 27, 2015
15:42 EDTBRCMAvago board to meet tonight on potential Broadcom deal, CNBC reports
CNBC's Kayla Tausche, citing sources, reports that Avago's (AVGO) board will meet tonight to vote on a potential takeover deal for Broadcom (BRCM), which could be announced as soon as tomorrow.
15:28 EDTBRCMMellanox would have direct competition from an Avago, Broadcom deal, says Stifel
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15:03 EDTBRCMAvago deal for Broadcom could be announced as soon as tomorrow, Bloomberg says
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15:02 EDTBRCMBroadcom spikes higher on report of possible Avago bid
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15:00 EDTBRCMBroadcom, Avago deal would make strategic sense, says Piper Jaffray
Piper Jaffray analyst Ruben Roy said he believes a merger deal between Broadcom (BRCM) and Avago (AVGO), as the companies were said by the Wall Street Journal to be discussing, would make strategic sense. Roy said that if average take-out multiples in the semiconductor space over the past several years are used as a guide, Broadcom could be valued near $58 per share in a takeover. He added that he thinks Intel (INTC) could continue to be interested in Broadcom, especially with its reported talks to buy Altera (ALTR) "in limbo." Roy maintains a Neutral rating on Broadcom shares.
14:52 EDTBRCMBroadcom declines comment on report of Avago talks
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14:27 EDTBRCMAvago could pay up to $65 for Broadcom, says Pacific Crest
Pacific Crest speculates Avago (AVGO) could pay $63-$65 per share for Broadcom (BRCM) and the deal would still be accretive.
14:25 EDTBRCMAvago Technologies calls active on talks to buy Broadcom report
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14:20 EDTBRCMBroadcom calls active on Avago in advanced talks to buy report
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14:10 EDTBRCMMaxim briefly trades lower after DJ report of Avago interest in Broadcom
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14:08 EDTBRCMAvago in advanced talks to buy Broadcom, WSJ reports
Broadcom (BRCM), which had a market value of $28B as of this afternoon, is in advanced talks to be acquired by Avago Technologies (AVGO), which recently had a market cap of about $34B, though it is unclear what terms the companies are discussing, said The Wall Street Journal. Following the report, Broadcom shares are up about 14% to $53.45, while Avago is up nearly 6% to trade just below $139 per share. Reference Link
14:01 EDTBRCMBroadcom jumps 8.5% after Dow Jones report on Avago takeover talks
Avago Technologies (AVGO) shares are up nearly 5% following the report.
14:00 EDTBRCMBroadcom in advanced talks to be acquired by Avago, Dow Jones reports
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10:35 EDTBRCMBMO Capital to hold a tour
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09:28 EDTBRCMBroadcom WiFi risks misplaced, says BofA/Merrill
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May 20, 2015
07:36 EDTBRCMJPMorgan to hold a conference
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May 15, 2015
17:33 EDTBRCMPoint72 Asset Management gives quarterly update on stakes
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May 14, 2015
09:06 EDTBRCMSynopsys and Broadcom extend license agreement
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07:48 EDTBRCMBroadcom management to meet with Deutsche Bank
Meeting to be held in Los Angeles on May 14 hosted by Deutsche Bank.
05:49 EDTBRCMStocks with implied volatility movement; ESI BRCM
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