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Broadcom Shares Popped: What You Need to Know

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What: Shares of Broadcom (Nasdaq: BRCM  ) rose more than 11% in early trading after the company reported results that beat Wall Street forecasts.

So what: For the second quarter, the chip maker booked $0.72 in adjusted earnings on $1.8 billion in revenue. Analysts were expecting just $0.63 a share on roughly the same amount of revenue, according to Yahoo! Finance.

Now what: The report overshadowed an otherwise down day for chips, led by a 2% drop in shares of NVIDIA (Nasdaq: NVDA  ) , which Needham & Co. downgraded from hold to underperform. Broadcom got better treatment from Charter Equity, which upgraded the stock from market perform to buy, while a Jefferies & Co. analyst raised his price target from $41 to $46 a share on expectations of growing demand for the company's touchscreen and Wi-Fi controller chips, The Associated Press reports. Do you agree? Disagree? Weigh in using the comments box below.

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Fool contributor Tim Beyers is a member of the Motley Fool Rule Breakers stock-picking team. He didn't own shares in any of the companies mentioned in this article at the time of publication. Check out Tim's portfolio holdings and Foolish writings, or connect with him on Google+ or Twitter, where he goes by @milehighfool. You can also get his insights delivered directly to your RSS reader.

Motley Fool newsletter services have recommended buying shares of NVIDIA. Motley Fool newsletter services have recommended writing puts in NVIDIA. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


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Tim Beyers
TMFMileHigh

Tim Beyers first began writing for the Fool in 2003. Today, he's an analyst for Motley Fool Rule Breakers and Motley Fool Supernova. At Fool.com, he covers disruptive ideas in technology and entertainment, though you'll most often find him writing and talking about the business of comics. Find him online at timbeyers.me or send email to tbeyers@fool.com. For more insights, follow Tim on Google+ and Twitter.

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Related Tickers

2/27/2015 4:00 PM
BRCM $45.23 Down -0.47 -1.03%
Broadcom Corp CAPS Rating: ****
NVDA $22.06 Down -0.14 -0.63%
Nvidia CAPS Rating: ****

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