Broadcom Corporation (NASDAQ:BRCM) moved down in morning trading after electronics maker Samsung reported that it is buying CSR’s handset connectivity operations, comprising CSR’s mobile connectivity technology and patents.
Though, Deutsche Bank wrote in a note to investors that it feels fears about share losses at Semiconductor manufacturer are overblown, noting that the length of the development and evaluation lifecycle required for handsets would make a switch away from Broadcom chips unlikely in the about to medium term.
Also, Deutsche reported it believes Broadcom’s 40 nanometer combo solution will continue to offer superior performance and cut expenses evaluated against CSR’s offerings.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Intel Corporation (NASDAQ:INTC) rose +0.99% to settle at $25.38, Texas Instruments Incorporated (NASDAQ:TXN) moved up +0.61% to end at $26.59 while STMicroelectronics N.V. (ADR) (NYSE:STM) plunged -0.21% to finish on Tuesday at $4.72.
Broadcom Corporation (NASDAQ:BRCM) last session volume of 26.53 million shares was lower than its average volume of 6.75 million shares. The stock after opening at $30.14 hit high price of $30.15 and then closed at $29.60 by scoring -3.93%.
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 2.20 and price to cash ratio remained 9.74. 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 -6.12% which was maintained for the month at -13.65%. Likewise the negative performance for the quarter was recorded as -20.26% and for the year was -7.59% while the YTD performance remained at +1.40%.
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