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

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Broadcom Corporation ( BRCM) pushed the Technology sector lower today making it today's featured Technology laggard. The sector as a whole was unchanged today. By the end of trading, Broadcom Corporation fell $0.31 (-1.1%) to $29.00 on light volume. Throughout the day, 6,486,614 shares of Broadcom Corporation exchanged hands as compared to its average daily volume of 8,841,500 shares. The stock ranged in price between $29.00-$29.51 after having opened the day at $29.30 as compared to the previous trading day's close of $29.31. Other companies within the Technology sector that declined today were: Silver Spring Networks ( SSNI), down 24.7%, LDK Solar Company ( LDK), down 9.2%, Tucows ( TCX), down 9.1% and Harmonic ( HLIT), down 8.2%.

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 $15.3 billion and is part of the electronics industry. The company has a P/E ratio of 33.9, above the S&P 500 P/E ratio of 17.7. Shares are down 1.1% year to date as of the close of trading on Thursday. Currently there are 21 analysts that rate Broadcom Corporation a buy, 1 analyst rates it a sell, and 11 rate it a hold.

TheStreet Ratings rates Broadcom Corporation as a hold. 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 and increase in net income. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and a generally disappointing performance in the stock itself.

On the positive front, Kingtone Wirelessinfo Solution ( KONE), up 148.5%, Ninetowns Internet Technology Group Company ( NINE), up 27.0%, Vimicro International Corporation ( VIMC), up 26.2% and NII Holdings ( NIHD), up 24.2% , were all gainers within the technology sector with NXP Semiconductor ( NXPI) being today's featured technology sector leader.

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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