Analysts at Wedbush Securities also changed their rating on Broadband, to "outperform" from "neutral" and raised their price target to $43 from $30 on the stock.
The firm said it upped its rating as the company is looking to sell its cellular baseband business.
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Shares of Broadcom are up 0.29% to $34.94 in pre-market trading.
Separately, TheStreet Ratings team rates BROADCOM CORP as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate BROADCOM CORP (BRCM) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity."