Broadcom Corporation (BRCM): Today's Featured Technology Winner

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

Broadcom Corporation ( BRCM) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day up 0.9%. By the end of trading, Broadcom Corporation rose 66 cents (1.9%) to $35.10 on average volume. Throughout the day, 9.6 million shares of Broadcom Corporation exchanged hands as compared to its average daily volume of 7.4 million shares. The stock ranged in a price between $34.42-$35.20 after having opened the day at $34.48 as compared to the previous trading day's close of $34.44. Other companies within the Technology sector that increased today were: Deltathree ( DDDC), up 66.7%, Renewable Energy Trade Board ( EBOD), up 46.7%, Hauppauge Digital ( HAUP), up 45.7%, and China Mobile Games and Entertainment Group ( CMGE), up 38.5%.
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Broadcom Corporation provides semiconductor solutions for wired and wireless communications. Its products offer voice, video, data, and multimedia connectivity in the home, office, and mobile environments. Broadcom Corporation has a market cap of $17.84 billion and is part of the electronics industry. The company has a P/E ratio of 27.6, above the S&P 500 P/E ratio of 17.7. Shares are up 3.7% year to date as of the close of trading on Friday. Currently there are 33 analysts that rate Broadcom Corporation a buy, no analysts rate it a sell, and four 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.

On the negative front, Remark Media ( MARK), down 20.3%, Cimatron ( CIMT), down 17.7%, Revolution Lighting Technologies ( RVLT), down 15.4%, and Kingtone Wirelessinfo Solution ( KONE), down 12.1%, were all laggards within the technology sector with Rackspace Hosting ( RAX) being today's technology sector laggard.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider Technology Select Sector SPDR ( XLK) while those bearish on the technology sector could consider ProShares Ultra Short Technology ( REW).

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