Communications semiconductor maker

Broadcom

(BRCM)

will roll out an "important strategic initiative" Monday morning, though the company didn't offer further information.

The company said Saturday night that it will issue a press release detailing the plan Monday morning. Broadcom will then hold an 8:45 a.m. EST conference call that will be be broadcast over the Internet at

www.broadcom.com.

Broadcom shares closed Friday at $222.38, valuing the company near $50 billion.