Benchmark Lowers Price Target, Estimates on Broadcom Corp. (BRCM)
Analysts at Benchmark believe that Broadcom Corporation’s (BRCM) recent acquisition of Renesas will cut into its earnings. As such, the analysts cut the earnings estimates and price target on the semiconductor maker on Wednesday.
The analysts now see shares of BRCM reaching $35, which still suggests a 32% upside to the stock’s Tuesday closing price of $26.45.
Broadcom shares were down 16 cents, or 0.60%, during pre-market trading on Wednesday. The stock is down 20.36% year-to-date.
The Bottom Line
Shares of Broadcom Corp. (BRCM) offer a dividend yield of 1.66% based on Tuesday’s closing price of $26.45 and the company’s annualized dividend payout of 44 cents per share.
Broadcom Corporation (BRCM) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.
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