NEW YORK (TheStreet) -- Shares of Broadcom Corp. (BRCM) are higher by 3.51% to $40.11 in pre-market trading on Wednesday after the company reported net income of $406 million, or 65 cents per share, for the 2014 second quarter, beating the consensus estimate of 61 cents per share.
The company, which is a global leader in semiconductor solutions for wired and wireless communications, reported net revenue of $2.04 billion, which was in-line with the consensus estimate of $2.05 billion.
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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 few notable 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 largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
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