Broadcom

(BRCM)

was down 3.4% in early trading, a day after the communications chipmaker's CFO said sales were falling short of previous guidance.

Analysts began adjusting their estimates and targets.

Banc of America

cut its 12-month price target to $110 from $400 while maintaining its strong buy rating.

UBS Warburg

cut its 2001 earnings-per-share estimate to $1.40 from $1.57 and maintained its strong buy.

Morgan Stanley Dean Witter

also reiterated its strong buy.