Shares of Broadcom (NASDAQ:BRCM) were up over 3 percent in trading as of this writing, on news of two upgrades, one from DA Davidson and the other form Oppenheimer.
According to DA Davidson’s analyst Aalok Shah, Broadcom will continue to have the majority of the market of chips serving WiFi, Bluetooth and FM radio connections in smartphones and tablet computers, and integration of those devices should help the company maintain its lead despite incursions from Qualcomm (NASDAQ:QCOM), which is in the process of acquiring Atheros (NASDAQ:ATHR) for greater WiFi chip expertise.
Even with concerns over the depth of the supply chain disruption coming from the earthquake in Japan, Shah still sees the company performing well in 2011.
Broadcom was trading at $39.62, gaining $1.17, or 3.04 percent, as of 12:37 PM EDT. Shah raised his rating on Broadcom from "Neutral" to "Buy."
Wednesday, April 6, 2011
Broadcom (BRCM) Gets Boost from Davidson, Oppenheimer
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