Broadcom (BRCM +5.5%) shares surge as FBR adds the chipmaker to its Top Picks list, believing it...

|About: Broadcom Limited (AVGO)|By:, SA News Editor

Broadcom (BRCM +5.5%) shares surge as FBR adds the chipmaker to its Top Picks list, believing it is positioned to grow to the world’s second-largest baseband supplier behind Qualcomm (QCOM). Despite a weak outlook in April, FBR doesn’t believe its wireless business is “structurally impaired” but is taking a breather following “outsized” revenue growth in 4Q10 and 1Q11.