Broadcom (NASDAQ:BRCM) Positioned Strongly for Mobile Connected Devices, Attach Rates of WLAN

Broadcom (NASDAQ:BRCM) has positioned themselves to outperform in 2011, according to Needham & Company, citing the fast growth of mobile-connected devices, and growing attach rates of WLAN, Bluetooth and GPS functionality.

Needham said, "As discussed in our industry report, we believe that four primary themes will drive the communication semiconductor market in 2011, including 1) the rapid growth of mobile connected devices such as smartphones and tablets, 2) the growing complexity of RF front-ends for mobile connected devices, 3) increasing attach rates of WLAN, Bluetooth and GPS functionality in mobile devices and consumer electronics and 4) the migration towards cloud computing and to higher bandwidth mobile networks. Well positioned to capitalize on two (1 & 3) of these trends, we have strong conviction that Broadcom will outperform in 2011."

Needham & Company reiterates a "Buy" rating on Broadcom, which closed Monday at $45.71, gaining $0.82, or 1.83 percent. They raised their price target from $47 to $52.