Broadcom Corporation (NASDAQ:BRCM), a provider of chips for set-top boxes, networking and smart phones, and Emulex Corporation (NYSE:ELX) made a partial deal over their patent litigation, with Emulex deciding to pay Broadcom $58 million in cash for few networking technology licenses.
Both companies have been fighting for years over networking technology that links different pieces of hardware in data centers. Broadcom at the start filed court case against Emulex in late 2009, mentioning the corporation violated almost a dozen of its patents. Emulex countersued later on in the year, charging Broadcom acted to quash rivalry in part of the networking market.
The initial court case came only a couple months after Broadcom failed in its effort to purchase Emulex. The hostile takeover offer was broadly observed as Broadcom’s try to plug a hole in its portfolio with so-called fibre channel chip products used in storage networking.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Intel Corporation (NASDAQ:INTC) fell -1.49% to settle at $26.16, Texas Instruments Incorporated (NASDAQ:TXN) moved down -2.43% to end at $27.72 while STMicroelectronics N.V. (ADR) (NYSE:STM) plunged -4.65% to finish on Friday at $5.13.
Broadcom Corporation (NASDAQ:BRCM) last session volume of 5.79 million shares was lower than its average volume of 7.09 million shares. The stock after opening at $33.33 hit high price of $33.36 and then closed at $32.57 by scoring -3.32%.
BRCM generated revenue of 7.40 billion in the following twelve months and earned $787.00 million. The Company showed a positive 10.64% in the net profit margin and as well as in its operating margin which remained 10.41%. Company’s annual sales growth for the past five year was 15.04%.
The BRCM past twelve months price to sales ratio was 2.43 and price to cash ratio remained 10.71. As far as the returns are concern, the BRCM return on equity was recorded as 12.44% and dropped 10.49% return on investment while its return on asset stayed at 9.09%.
The stock showed weekly upbeat performance of +0.28% which was maintained for the month at -4.82%. Likewise the negative performance for the quarter was recorded as -12.66% and for the year was -5.95% while the YTD performance remained at +11.58%.
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