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Broadcom Corporation (BRCM)

- NASDAQ
  • Jul. 23, 2013, 12:39 PM
    There's a growing risk Apple (a long-time Broadcom combo chip client) will use home-grown combo chips in the future, says Pac Crest's Michael McConnell while downgrading Broadcom (BRCM -3.5%) to Sector Perform ahead of this afternoon's Q2 report. McConnell points recent Apple hiring activity, and Texas Instruments' (TXN +4%) disclosure it has sold wireless connectivity tech to a customer. TI, which is exiting the combo chip market, stated on its Q2 call it recorded a $315M gain from the sale, which suggests the customer was a big one. Broadcom is down 8% over the last week thanks to Pac Crest and Barclays; can networking and low-end smartphone chip sales help the company beat lowered expectations?
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  • Jul. 23, 2013, 10:06 AM
    A roundup of tech analyst ratings changes: 1) Broadcom (BRCM -5.3%) has been cut to Sector Perform by Pac Crest ahead of today's Q2 report. 2) JDS Uniphase (JDSU -3.4%) has been cut to Neutral by MKM. 3) Lam Research (LRCX +1.1%) has been started at Outperform by RBC ahead of its July 31 FQ4 report. 4) Texas Instruments (TXN +4.8%) has been upgraded to Neutral by SunTrust following its Q2 results and strong Q3 guidance. 5) Quad/Graphics (QUAD -2.2%) has been cut to Neutral by Sidoti.
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  • Jul. 23, 2013, 12:10 AM
    Notable earnings after Tuesday’s close: AAPL, ACC, ACE, AEC, ALTR, BCR, BRCM, CPWR, DFS, EA, FBC, FNB, FTI, HA, HLIT, HTS, IGT, ILMN, IRBT, JNPR, KFN, LLTC, NBR, NSC, PEI, PLCM, PNRA, RE, RFMD, RHI, RKT, T, TSS, UIS, USNA, VASC, VMW, VOCS, WCN, ZIXI
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  • Jul. 22, 2013, 5:44 PM
    Broadcom (BRCM -1.3%) closed lower ahead of tomorrow's Q2 report after Barclays stated Qualcomm (QCOM +1%) combo chips were uncovered in a couple more device teardowns. Shares tanked last Wednesday after the Barclays reported a Galaxy S4 Mini teardown turned up a Qualcomm combo chip. The firm added the teardown suggests "QCOM is not as far behind [in the combo chip market] as many perceive," and that OEMs are optimizing for cost (where Qualcomm's platform-level solutions might have an edge) relative to performance (where Broadcom arguably maintains an edge), as demand shifts towards low-end/mid-range hardware.
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  • Jul. 22, 2013, 5:35 PM
    Notable earnings after Tuesday’s close: AAPL, ACC, ACE, AEC, ALTR, BCR, BRCM, CPWR, DFS, EA, FBC, FNB, FTI, HA, HLIT, HTS, IGT, ILMN, IRBT, JNPR, KFN, LLTC, NBR, NSC, PEI, PLCM, PNRA, RE, RFMD, RHI, RKT, T, TSS, UIS, USNA, VASC, VMW, VOCS, WCN, ZIXI
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  • Jul. 18, 2013, 2:27 PM
    Mobile chipmakers are selling off after Nokia's Q2 Lumia and total phone sales miss expectations, and top foundry TSMC (TSM -8.6%) provides light Q3 guidance (revenue of $5.37B-$5.48B vs. $5.48B consensus) and a 2013 industry forecast cut to go with a Q2 beat. 3 days after Digitimes reported top TSMC clients, including Qualcomm (QCOM -2.9%), Broadcom (BRCM +0.4%), and OmniVision (OVTI -1.6%), were paring orders due to weak PC and high-end smartphone sales, TSMC says it "[expects] the IC supply chain to begin managing inventories" in 2H. MXIM -3.5%. TQNT -3.1%. RFMD -3.4%. CRUS -1.6%. Goldman is defending TSMC. Skyworks (SWKS -1.3%) reports after the bell.
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  • 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.
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  • 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%.
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  • 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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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.