BRCM
Broadcom Corporation
TMT
05/15/2015
Presented
| Date | 05/13/2015 |
| Price | $46.66 |
| Market Cap | N/A |
| Ent Value | $26.52B |
| P/E Ratio | 40.9x |
| Book Value | $15.06 |
| Div Yield | 1.2% |
| Shares O/S | 597.63M |
| Ave Daily Vol | 6,070,000 |
| Short Int | 1.30% |
Current
| Price | $54.67 |
| Market Cap | $31.00B |
| Broadcom Corporation provides semiconductor solutions for wired and wireless communications. Its products offer voice, video, data, and multimedia connectivity in the home, office, and mobile environments. The company operates in two segments: Broadband and Connectivity, and Infrastructure and Networking. The Broadband and Connectivity segment offers platform solutions for cable, satellite, Internet protocol, over-the-top, and terrestrial set-top boxes; DSL, cable, and fiber broadband access services; femtocell to enhance cellular coverage and small cell low-powered radio access nodes, as well as location-based services technology and touch controllers; and integrated and discrete Wi-Fi, bluetooth, and near field communication solutions. The Infrastructure and Networking segment offers Ethernet switches and PHYs for service provider networks, data center implementations, and enterprise and small-and-medium businesses; Ethernet copper transceivers; automotive Ethernet products; and backplane and optical front-end physical layer devices. This segment also provides multicore communication processors; knowledge-based processors, microwave modems and RF, VoIP solutions, and digital front-end processors; Ethernet controllers; and a range of custom application-specific integrated circuit solutions. The company markets and sells its products through direct sales force, distributors, and manufacturers’ representatives in the United States; and through regional offices, as well as a network of independent distributors and representatives primarily in Asia, Australia, Europe, South Africa, and South America. Broadcom Corporation was founded in 1991 and is headquartered in Irvine, California. |
Publicly traded companies mentioned herein: Altera Corporation (ALTR), Apple Inc (AAPL), Avago Technologies Ltd (AVGO), Broadcom Corp. (BRCM), Cavium Inc (CAVM), Cisco Systems Inc (CSCO), Comcast Corporation (CMCSA), Intel Corporation (INTC), QUALCOMM Inc (QCOM), Samsung Electronics Co Ltd (005930 KS), Time Warner Cable Inc (TWC)
Highlights
The presenter is long shares of Broadcom (BRCM) and believes the company “pivoted” in the second half of 2014 and is now heading in a constructive direction. At ~$46, he sees a favorable risk/ reward setup, with measureable, acceptable downside risk and a number of potential catalysts tilting the probability of upside to the $60 - $80 range in bulls’ favor.
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