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Broadcom Corporation (BRCM)

  • Jul. 17, 2013, 10:15 AM
    Broadcom (BRCM -4.3%) dives after Barclays reports a teardown of Samsung's Galaxy S4 Mini indicates Qualcomm's (QCOM +0.4%) Atheros unit is the phone's Wi-Fi/Bluetooth combo chip supplier; the firm estimates Broadcom gets 28%-30% of its sales from combo chips. Broadcom has a dominant share of the combo chip market, aided by design wins for flagships such as the iPhone 5 and Galaxy S4. The S4 Mini (unlike the regular S4) doesn't support the next-gen 802.11ac Wi-Fi standard, which Broadcom has bet big on. Samsung made acquisitions (I, II) last year that suggest it wants to build its own combo chips, at least for low-end hardware.
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  • Jul. 15, 2013, 11:46 AM
    Some of TSMC's (TSM -0.4%) top clients, including Qualcomm (QCOM -1.4%), Broadcom (BRCM -0.2%), and OmniVision (OVTI +0.3%), are slowing down their order pace and wafer starts thanks to concerns about PC and high-end smartphone sales, Digitimes reports. The report follows a light Q2 profit forecast from Samsung, weak Q2 PC shipment figures from Gartner and IDC, and a slew of negative analyst reports on high-end smartphone demand. On the other hand, MediaTek and Spreadtrum, two TSMC clients with strong low-end smartphone exposure, have posted strong numbers (I, II). Broadcom reports on July 23, and Qualcomm on July 24.
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  • Jul. 10, 2013, 10:36 AM
    Emulex (ELX +2.5%) spikes higher after dealReporter reports the maker of server/storage adapter cards and controller chips is expected to receive strong M&A interest, including possibly from legal adversary Broadcom (BRCM). Shares now +21% since Bloomberg reported last week Emulex has hired Goldman to find a suitor. (Starboard Value)
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  • Jul. 3, 2013, 2:19 PM
    TSMC's (TSM) 28nm and 40nm manufacturing capacity is fully booked through Q3, chip industry sources tell Digitimes. The world's top foundry, which has already been taking share this year, is reportedly seeing strong orders from Qualcomm (QCOM), Broadcom (BRCM), and MediaTek, as booming demand for low-end/mid-range smartphones offsets high-end softness. Interestingly, sources also claim PC chip demand is picking up, and helping extend visibility for TSMC's advanced processes (NVDA and AMD are two PC-exposed users of TSMC's 28nm process). Spreadtrum, another TSMC mobile client, recently pre-announced a strong Q2.
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  • Jul. 3, 2013, 11:22 AM
    Samsung (SSNLF.PK) is set to announce Galaxy S4 shipments have topped 20M, reports Korean news site iNews24. If true, that would mean the milestone was reached a little over 2 months after sales began, and about 5 weeks after shipments crossed 10M. For reference, it took 100 days for Galaxy S III shipments to top 20M. Though shipments could be notably higher than end-user sales if channel inventory is building up, the report (if accurate) might soothe fears of weak demand (spurred by multiple build order cut reports) a little bit. Suppliers with strong exposure: QCOM, BRCM, SYNA, RFMD, ANAD, OLED.
  • Jul. 1, 2013, 5:17 PM
    More on Lazard's downgrade of Broadcom (BRCM -1.8%) and upgrade of Marvell (MRVL +0.4%): analyst Daniel Amir argues Broadcom's (dominant) combo chip share has nowhere to go but down, that 4G LTE baseband chip sales will take time, and that heavy investments/opex spell a lack of operating leverage. Meanwhile, he thinks rival Marvell's 3G baseband business could be a positive catalyst: the company has launched quad-core chips, is expanding beyond China, and has scored design wins with Samsung, Huawei, ZTE, and HTC.  Moreover, the baseband wins could lead to combo chip wins. Brean upgraded Marvell last week. (Broadcom 3G basebands)
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  • Jul. 1, 2013, 9:22 AM
    A roundup of tech analyst ratings changes: 1) BlackBerry (BBRY) has been downgraded to Equalweight by Morgan Stanley. 2) Broadcom (BRCM) has been downgraded to Neutral by Lazard. 3) Marvell (MRVL) has been upgraded to Buy by Lazard. 4) F5 (FFIV) has been upgraded to Buy by Needham. 5) Avid (AVID) has been downgraded to Neutral by JPMorgan. 6) Solera (SLH) has been upgraded to Outperform by William Blair. BBRY -4.1%, adding to Friday's 27% drop. BRCM -0.6%. MRVL +1.4%. FFIV +2%.
  • Jun. 25, 2013, 7:25 PM
    Intel (INTC) roundup: 1) Intel is trialing its Web TV service with employees to gain feedback ahead of a late-2013 launch. All signs suggest content talks are far from over. 2) Raymond James sees an opportunity for Intel (via its Puma SoCs) to penetrate a set-top/home gateway market in which the top 3 vendors - Arris, Cisco, and Pace - sold an estimated 38M+ units in 2012. Broadcom (BRCM) has much of the set-top SoC market, and recently updated (I, II) its lineup. 3) Benchmarks indicate the GPUs for Intel's low-power Haswell CPUs (the HD 5000 and 4400) offer big performance gains over Ivy Bridge's HD 4000. More powerful Iris GPUs are also due; the lineup could affect Nvidia (NVDA) and AMD's GPU sales. (Intel/Comcast)
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  • Jun. 17, 2013, 2:32 PM
    With the help of Qualcomm (QCOM) silicon supporting the LTE-Advanced standard, Samsung (SSNLF.PK) is set to release a version of the Galaxy S4 that can deliver twice the download speeds of current models. GigaOm isn't too impressed, pointing out Samsung appears to be adopting a simple version of LTE-Advanced that offers a technique for pooling spectrum bands (carrier aggregation). Meanwhile, Reuters points out many analysts have lowered their S4 sales estimates to ~7M/month from a prior ~10M/month, following order cut reports. That could be pressuring Universal Display's (PANL -1.5%) shares. Qualcomm has an early lead in supporting LTE-Advanced, but Broadcom (BRCM) and Nvidia (NVDA) aren't far behind (I, II).
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  • Jun. 13, 2013, 7:10 PM
    Broadcom (BRCM) is refreshing its 3G baseband/app processor line ahead of the arrival of its first 4G baseband chip (announced in February, but no volume production until 2014). The new BCM23550 processor sports four 1.2GHz. CPUs, Broadcom's VideoCore image-processing/streaming tech, and easy integration with the company's Wi-Fi Bluetooth competition. It's aimed at low-end Android phones in emerging markets (an area still seeing enormous growth), and will face competition from Qualcomm (QCOM - just refreshed its emerging markets lineup) and MediaTek. (Dec. '12 announcements)
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  • Jun. 12, 2013, 1:46 PM
    Broadcom (BRCM -1.6%) tries to grab a bigger piece of the high-margin network processor (NPU) market by launching its XLP980 chip. Broadcom claims the XLP980, which leverages NetLogic and TSMC's 28nm process, can deliver 160 Gbps of throughput. The Linley Group's Bob Wheeler calls the XLP980 "a beast," and notes it has a head-start on a pending chip for Cavium's (CAVM) OCTEON III line, but cautions it could be limited to high-end applications. Broadcom (BRCM) also competes with EZchip (EZCH) in the NPU space. EZchip's NP-4 processor offers 100 Gbps of throughput; the NP-5 (due in 2014) reaches 240 Gbps. (PR)
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  • Jun. 12, 2013, 11:47 AM
    Maxim joins JPMorgan and Susquehanna in reporting of Galaxy S4 weakness: analyst Ashok Kumar says Samsung (SSNLF.PK) is cutting shipments due to weak sales and rising channel inventory, and that checks indicate consumers are opting for the cheaper Galaxy S III. He thinks touch controller supplier Synaptics (SYNA -2.7%) could be affected; others possibly at risk include ATML, RFMD, BRCM, PANL, TQNT, ANAD, and SWKS. As far as suppliers go, much still depends on how much demand is simply shifting to mid-range phones, or to rival high-end devices such as HTC's One, Sony's Xperia Z, LG's Optimus G, and Lenovo's K900.
  • Jun. 7, 2013, 9:33 AM
    Topeka launches coverage on the chip sector. NXP (NXPI -1.5%), Broadcom (BRCM +1.3%), Amkor (AMKR +0.5%), Freescale (FSL -0.5%), and Rambus (RMBS +0.5%) have been started at Buy, and ARM (ARMH -2.1%), Qualcomm (QCOM -2%), Applied Micro (AMCC +0.3%), and Mellanox (MLNX +1.9%) have been started at Hold. Mellanox isn't exactly a chip stock, though the company does use internally-developed ASICs in its adapter cards and switches. Qualcomm may be pressured this morning by reports of Samsung Galaxy S4 order and forecast cuts (I, II)
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  • Jun. 6, 2013, 4:27 PM
    Samsung (SSNLF.PK) has been meeting with investors to temper Galaxy S4 expectations, and the consensus for Q2 and Q3 S4 sales has fallen to 20M/quarter from a prior 25M and 30M, writes Susquehanna. The firm adds Samsung is now placing a greater emphasis on mid-range sales (Chinese OEMs have been competing aggressively here), and sees lower S4 estimates as a negative for Broadcom (BRCM) and Maxim (MXIM). PANL, RFMD, SYNA, and ANAD could also be affected. On the flip side, Canaccord believes S4 sales have passed iPhone sales at Verizon, Sprint, and T-Mobile USA, and RBC offered an upbeat forecast last week.
  • May 30, 2013, 7:02 PM
    Galaxy S4 sales will top 20M in Q2 and 80M by year's end, estimates RBC, citing checks indicating strong U.S. demand. If Samsung (SSNLF.PK) pulls that off, it would be on its way to hitting its target of 100M lifetime sales. RBC also expects industry smartphone sales to rise 27% this year to 870M, and 20% in 2014 to 1B+. Meanwhile, a Russian site reports Samsung's June 20 London event will reveal the Galaxy S4 Zoom, a 4.3" phone sporting a 16MP camera with a 10x optical zoom, and the Galaxy S4 Active, a water/dust-proof S4 variant sporting a Qualcomm (QCOM) Snapdragon 600 CPU. Samsung's just-launched S4 Mini uses a Snapdragon 400. Other S4 suppliers: PANL, SYNA, ATML, RFMD, BRCM, ANAD, SWKS, TQNT.
  • May 29, 2013, 6:23 PM
    Already a giant in the mobile and PC connectivity chip markets, Broadcom (BRCM) is hoping two new chips - the BCM4390 Wi-Fi SoC and BCM20732 Bluetooth SoC - will grow its share of the burgeoning embedded market. Broadcom argues the BCM4390's low power draw and feature set make it ideal for microcontroller-powered embedded devices such as thermostats and security cameras, and that the BCM20732's power draw and built-in software make it a good fit for products such as heart monitors and pedometers. GigaOm notes Broadcom is pitching Wi-Fi and Bluetooth as alternatives to the low-power ZigBee standard.
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Company Description
Broadcom Corp is provider of semiconductors for wired and wireless communications. It provides a portfolio of SoCs that seamlessly deliver voice, video, data and multimedia connectivity in the home, office and mobile environments.