In a research note issued to investors, Ross Seymore at Deutsche Bank Reiterated their Buy rating on Broadcom Corporation (NASDAQ:BRCM). The analyst placed a $55.00 price target on the stock which indicates a 14.37% upside to the last closing price. In the year following Seymore’s ratings, the stocks covered yield an average return of 30.2% according to TipRanks.com. In the past year 61 out of 78 recommendations or 78% were successful.
There are 23 research firms in total that have issued ratings on Broadcom Corporation (NASDAQ:BRCM) within the past year. The consensus, or mean target price of the Wall Street analysts covering the firm is $52.26.
Analysts are predicting that Broadcom Corporation (NASDAQ:BRCM) will report $0.74 earnings per share when they next issue their quarterly earnings release on or around 2015-07-28. The consensus mean estimate is the calculated mean of all brokerage sell-side analysts that issue earnings estimates for the company. In the most recent quarter the company reported earnings of $0.64 that ended on 2015-03-31.
Broadcom Corporation (NASDAQ:BRCM) has a 1.8 consensus analyst rating on the stock based on an arithmetical average of the 23 ratings given by the brokerage analysts covering the company. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell. The highest estimate of the 23 covering analysts sees the stock climbing to $60 within the next year while the lowest estimate places the 12-month target price at $40.
Looking ahead to full year estimates, analysts have placed the consensus earnings per share estimate for the current year at $3.02. The most bullish analyst sees the company reporting earnings per share of $3.32 while the most bearish analyst is predicting a current year EPS number of $2.48. Looking further ahead to the next three to five years, the long term EPS growth rate on a consensus basis is 11.49%, based on the 8 analysts providing longer term projections in their models.
Broadcom Corporation (Broadcom) is a global semiconductor solution for wired and wireless communications. Broadcom products seamlessly deliver voice, video, data and multimedia connectivity in the home, office and mobile environment. The Company provides system-on-a-chip (SoC), and software solutions. The Company’s segment includes Broadband Communications, Mobile and Wireless and Infrastructure and Networking. During the fiscal year ended December 31, 2012, operates its business to serve three markets: Broadband Communications, Mobile and Wireless and Infrastructure and Networking. In February 2012, the Company acquired NetLogic Microsystems, Inc. In April 2012, it acquired BroadLight, Inc.