Broadcom Corporation (BRCM): Today's Featured Electronics Loser
Broadcom Corporation (BRCM) pushed the Electronics industry lower today making it today's featured Electronics loser. The industry as a whole closed the day down 0.3%. By the end of trading, Broadcom Corporation fell 27 cents (-0.8%) to $33.37 on average volume. Throughout the day, 7.3 million shares of Broadcom Corporation exchanged hands as compared to its average daily volume of 8.4 million shares. The stock ranged in price between $33-$33.84 after having opened the day at $33.75 as compared to the previous trading day's close of $33.64. Other company's within the Electronics industry that declined today were: Aeroflex (ARX), down 25.4%, MEMC Electronic Materials (WFR), down 24.9%, Enova Systems (ENA), down 22.6%, and SatCon Technology Corporation (SATC), down 15.6%. Broadcom Corporation designs and develops semiconductors for wired and wireless communications. Broadcom Corporation has a market cap of $16.91 billion and is part of the technology sector. The company has a P/E ratio of 24.2, equal to the average electronics industry P/E ratio and above the S&P 500 P/E ratio of 17.7. Shares are up 15.6% year to date as of the close of trading on Wednesday. Currently there are 25 analysts that rate Broadcom Corporation a buy, one analyst rates it a sell, and five rate it a hold. TheStreet Ratings rates Broadcom Corporation as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and attractive valuation levels. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.
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