3 Stocks Pushing The Technology Sector Lower
2. As of noon trading, Broadcom Corporation ( BRCM) is down $0.27 (-0.9%) to $31.31 on average volume Thus far, 3.2 million shares of Broadcom Corporation exchanged hands as compared to its average daily volume of 6.8 million shares. The stock has ranged in price between $31.29-$31.68 after having opened the day at $31.67 as compared to the previous trading day's close of $31.58. Broadcom Corporation designs and develops semiconductor solutions for wired and wireless communications. It provides a portfolio of system-on-a-chip (SoC) and software solutions. Broadcom Corporation has a market cap of $16.1 billion and is part of the electronics industry. The company has a P/E ratio of 19.7, above the S&P 500 P/E ratio of 17.7. Shares are up 7.1% year to date as of the close of trading on Monday. Currently there are 33 analysts that rate Broadcom Corporation a buy, no analysts rate it a sell, and 4 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. Get the full Broadcom Corporation Ratings Report now.
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