D.A. Davidson announced on Friday that they have raised estimates for global semiconductor company, Broadcom Corporation(BRCM).
The firm reported that they have increased estimates for BRCM, and have given the company a “Buy” rating. Analysts raised estimates through 2013 due to a positive outlook discussed at the analyst day.
Broadcom shares were mostly flat during premarket trading Friday. The stock is up 13.4% YTD.
The Bottom Line
Shares of Broadcom (BRCM) have a 1.20% dividend yield, based on last night’s closing stock price of $33.36. The stock has technical support in the $30 price area. If the shares can firm up, we see overhead resistance around the $36-$37 price levels.
Broadcom Corporation(BRCM)is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.
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