Is Broadcom Oversold At Current Prices?
T = Trends for a Stock’s Movement
Broadcom provides semiconductor solutions for wired and wireless communications. Its products offer voice, video, data, and multimedia connectivity in the home, office, and mobile environments. The company operates in three segments: Broadband Communications, Mobile and Wireless, and Infrastructure and Networking. Broadcom markets and sells its products through direct sales force, distributors, and manufacturers representatives in the United States and through regional offices, as well as a network of independent and fulfillment distributors, and representatives primarily in Asia, Australia, Europe, and North America.
Broadcom reported financial results for its third quarter ended September 30, 2013 that did not impress investors. ”Broadcom delivered better-than-expected results across the board in the September quarter,” said Scott McGregor, Broadcom’s President and Chief Executive Officer. “With the Renesas transaction closed, the combined team is working diligently to deliver LTE revenue in early 2014. Looking forward, we are taking the necessary steps to tightly manage the business while focusing on strategic initiatives, including LTE, data center innovation and driving the next generation of home video with HEVC.”