D.A. Davidson Raises Estimates for Broadcom (BRCM)
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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