NEW YORK (TheStreet) -- Broadcomundefined shares are up 2.78 to $42.46 in early market trading Friday after the semiconductor solutions provider released its fourth-quarter earnings results after the closing bell yesterday.
The Irvine, CA-based company reported fourth-quarter earnings of $390 million, or 90 cents per diluted share on an adjusted basis, on revenue of $2.14 billion, up from the $2.06 billion it reported during the same period last year.
Analysts on average were expecting the company to report earnings of 87 cents per diluted share on revenue of $2.12 billion.
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More than 2.2 million shares had changed hands as of 9:55 a.m., compared to the daily average volume of 5,022,800.
Separately, TheStreet Ratings team rates BROADCOM CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate BROADCOM CORP (BRCM) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: BRCM Ratings Report