Broadcom Corporation (Nasdaq:BRCM) is trading at unusually high volume Wednesday with 15.1 million shares changing hands. It is currently at two times its average daily volume and trading up $2.18 (+6.6%).
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. NEW YORK ( TheStreet) -- Broadcom Corporation (Nasdaq: BRCM) is trading at unusually high volume Wednesday with 15.1 million shares changing hands. It is currently at two times its average daily volume and trading up $2.18 (+6.6%) at $35.16 as of 3:55 p.m. ET.
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Broadcom has a market cap of $16.97 billion and is part of the technology sector and electronics industry. Shares are down 1.8% year to date as of the close of trading on Tuesday. 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. The company has a P/E ratio of 26.1, above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Broadcom 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. You can view the full Broadcom Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100% See his top picks for 14-days FREE.