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BRCM

Broadcom Corporation

5/25/2013, 7:45 AM ET

Quote & Headlines Market Currents StockTalk

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Friday, May 17, 11:27 AM Galaxy S4 sales will top 10M next week (less than a month after launching), says Samsung (SSNLF.PK) co-CEO Shin Jong-kyun. The Galaxy S III took 50 days to crack 10M. Samsung thinks S4 sales could eventually reach 100M, or twice the 50M the S III has seen over its lifetime. Suppliers with decent exposure: RFMD, ANAD, PANL, QCOM, BRCM, SYNA. 3 Comments [Tech]
Thursday, May 16, 10:49 AM Plenty of Cisco rivals and suppliers are now rallying in response to the company's FQ3 beat, guidance, and order activity: JDSU +5.2%. RKUS +5.8%. CAVM +4.8%. PKT +2.9%. ADTN +2.6%. ALLT +1.9%. FN +2%. FNSR +2.4%. BRCM +1.3%. MRVL +1.6%. (previous) Comment! [Tech, On the Move]
Wednesday, May 15, 7:25 AM Broadcom Corporation (BRCM) declares $0.11/share quarterly dividend, in line with previous. Forward yield 1.20%. For shareholders of record May 31. Payable June 17. Ex-div date May 29. (PR) Comment! [Dividends]
Friday, May 10, 1:11 PM The next Nexus 7 (expected to be unveiled next week at the Google I/O conference) will feature a 1900x1200 display, Qualcomm's (QCOM) quad-core APQ8064 app processor, a Broadcom (BRCM) Wi-Fi/Bluetooth combo chip and NFC chip, and dual cameras, reports KGI Securities. This more or less matches past reports. But VR-Zone says a top-of-the-line Qualcomm Snapdragon 800 chip will be used. KGI, generally good with Apple rumors, also expects Google (GOOG) to unveil an Android laptop (no Chrome OS?), a set-top for Web streaming, and a smartwatch (previous), but not at I/O. Comment! [Tech]
Saturday, May 4, 3:52 PM Barron's is out with its list of the 500 financially strongest companies as ranked after a rigorous cash and sales analysis. A quick filter on the list shows a good chunk of the names trade with a single-digit price to earnings ratio including Goodyear Tire & Rubber (GT). Despite all the buzz about booming auto sales in the U.S. and China, concerns about growth for Goodyear's products in other regions of the globe have lowered expectations. But with auto sale estimates for full-year being taken higher, Goodyear could see enough consistent revenue growth to justify a higher trading multiple. (Top 25: AAPL, WCC, WDC, DVA, CHRW, QCOM, JOY, V, STX, MRC, MA, CVI, COF, SYMC, MCK, WCG, ETN, BRCM, TMO, CI, CBI, NOV, WNR, HFC, DK) 39 Comments [Consumer, Quick Ideas]
Wednesday, May 1, 10:18 AM A revenue miss and soft guidance lead Entropic (ENTR -14.9%) to plunge towards its 52-week low. On its earnings call, the set-top/home networking chipmaker guided for Q2 revenue of $70M-$73M and EPS of $0.00, below a consensus of $77.3M and $0.01; management blamed "seasonal softness" in carrier demand and "continued revenue pressure" for its set-top SoC ops as a cable provider works through its digital adapter inventory. Needham has cut shares to Hold. Entropic is seeing intensifying competition from Broadcom (BRCM), which on its Q1 call stated broadband chip sales rose 9% Y/Y, with set-top growth offsetting lower Chinese modem shipments. Comment! [Tech, Earnings, On the Move]
Monday, April 29, 12:59 PM As goes Apple, so goes Cirrus Logic (CRUS +7.1%). The audio codec chipmaker is taking off in sympathy with the customer than made up 85% of its March quarter revenue, one trading day after getting clocked due to downbeat remarks about FY14 sales. Likewise, iPhone/Galaxy S4 supplier Skyworks (SWKS +3.4%) is rallying following a post-earnings Friday decline caused by mixed guidance, and so is rival RF Micro (RFMD +3.2%). Broadcom (BRCM +2.5%), meanwhile, is adding to last week's strong post-earnings gains, fueled by a Q1 beat and solid guidance. The gains come even as another Apple supplier, Nam Tai, gets crushed due to weak guidance. Comment! [Tech, On the Move]
Saturday, April 27, 11:03 AM Qualcomm (QCOM) managed to get 6 chips in the U.S. version of Samsung's (SSNLF.PK) Galaxy S4, per iFixit's teardown: the high-end APQ8064 app processor, a 4G baseband chip, an audio codec chip, an RF transceiver (beating out SIMO), and 2 power management ICs; the U.K. version uses a Snapdragon 600 baseband/app processor. Also found: a MXIM microcontroller, an SIMG video transmitter, a SWKS 2G power amplifier module, a BRCM NFC chip (likely to go with a combo chip), ATML and SYNA touch controllers, and Toshiba (TOSBF.PK) NAND flash (previous). (Chinese S4 teardown) (Galaxy S III teardown) (also) 4 Comments [Tech]
Wednesday, April 24, 1:31 PM Samsung's (SSNLF.PK) Galaxy S IV is a superb phone, if one can cope with a cheap plastic feel and too many gimmicks. That seems to be the consensus from the first full reviews. The Verge praises the S IV's display, camera, and performance, but still considers the HTC One a better bet. "The Galaxy S4 is fast and impressive, but it's also noisy and complex." TechCrunch and Gizmodo deliver similar takes. But others (I, II) make the case that more is ultimately better (this mindset has worked for Samsung thus far). The reviews arrive as Sprint and T-Mobile state their S IV launches will be delayed due to inventory issues. Key suppliers: QCOM, BRCM, SYNA, PANL, ATML, RFMD, TQNT. (previous) 23 Comments [Tech]
Wednesday, April 24, 12:28 PM Are wireless chip stocks decoupling from Apple? Even with Apple off slightly as bleak June quarter guidance outweighs fresh capital returns, iPhone/iPad combo chip supplier Broadcom (BRCM +6.6%) is surging thanks to a Q1 beat and strong Q2 guidance, and is helping out some peers - QCOM +1.4%, SWKS +2.6%, INVN +1.8%, SNDK +1%. During its earnings call, Broadcom, which also provides combo chips for many Samsung phones, stated mobile chip sales only fell 1.6% Q/Q in seasonally weak Q1, and forecast sequential growth for the business (Apple-dependent Cirrus Logic sure isn't doing the same). Qualcomm reports after the close. 4 Comments [Tech, Earnings, On the Move]
Tuesday, April 23, 5:48 PM After-hours top gainers, as of 5:15 p.m.: IRBT +14%. ENZN +7%. YUM +6%. BRCM +5%. AAPL +5%.
After-hours top losers: VOCS -30%. UIS -16%. DV -12%. AWAY -8%. PNRA -6%. Comment! [On the Move]
Tuesday, April 23, 4:10 PM Broadcom (BRCM): Q1 EPS of $0.65 beats by $0.09. Revenue of $2.01B (+10% Y/Y) beats by $100M. Expects Q2 revenue of $2.1B (+/- 4%), favorable to a consensus of $2.05B. Shares +2.7% AH. CC at 4:45PM ET (webcast). (PR) Comment! [Tech, Earnings, Breaking News, On the Move]
Tuesday, April 23, 12:10 AM Notable earnings after Tuesday’s close: AAPL, ACC, AMGN, AWAY, BCR, BRCM, CREE, DV, EW, FBC, FTI, HA, HBI, HLIT, HTS, IRBT, ITC, JNPR, LIFE, NBR, NFX, NSC, OI, OII, OMI, PACB, PLCM, PNRA, RFMD, RHI, T, UIS, USNA, VMW, WRB, YUM, ZIXI Comment! [Earnings]
Monday, April 22, 5:35 PM Notable earnings after Tuesday’s close: AAPL, ACC, AMGN, AWAY, BCR, BRCM, CREE, DV, EW, FBC, FTI, HA, HBI, HLIT, HTS, IRBT, ITC, JNPR, LIFE, NBR, NFX, NSC, OI, OII, OMI, PACB, PLCM, PNRA, RFMD, RHI, T, UIS, USNA, VMW, WRB, YUM, ZIXI Comment! [Earnings]
Wednesday, April 17, 12:26 PM Chip stocks have a rough day (SOXX -2.8%) following Cirrus Logic's warning, light guidance from Linear Technology (LLTC -4.6%) to go with a Q1 beat - Linear sees 1%-4% Q/Q revenue growth for calendar Q2, below a 4.7% consensus - and ho-hum Q1 results/Q2 guidance from Intel. Apple suppliers Broadcom (BRCM -4%), Avago (AVGO -5.5%), STMicroelectronics (STM -6.7%), NXP (NXPI -7%), RF Micro (RFMD -2.8%), and OmniVision (OVTI -3.3%) are among the casualties, but they're far from alone. ANAD -6.2%. STM -5.7%. FSL -5%. ADI -4.5%. TXN -4.4%. Comment! [Tech, On the Move]
Thursday, April 11, 5:48 PM "The move to digital audio/video and the rise of powerful smartphones/tablets is shrinking the overall [semiconductor addressable market]," writes Barclays' Blayne Curtis in a gloomy note about chip stocks influenced by ugly Q1 PC data. "The growth profile in semis is much slower than many expect (low single digits vs. the 7-8% 20yr trend line)." Curtis has cut Broadcom (BRCM) by two notches to Underweight on a belief its combo chip business could be hurt by integrated platforms (ed: Broadcom seems to have a tech edge for now), but has left his other ratings intact. Comment! [Tech]

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