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Last $51.79 USD
Change Today +0.14 / 0.27%
Volume 4.0M
BRCM On Other Exchanges
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As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

broadcom corp-cl a (BRCM) Key Developments

WeissLaw LLP Files Securities Class Action Against Broadcom Corp

WeissLaw LLP announced that it filed a class action lawsuit on August 14, 2015, in the U.S. District Court for the Central District of California, on behalf of the shareholders of Broadcom Corp. against Broadcom, and its Board of Directors for, among other things, violations of section 14(a) and 20(a) of the Securities and Exchange Act of 1934. The complaint arises out of a May 28, 2015, press release announcing that Broadcom had entered into a definitive merger agreement with Avago Technologies Limited, pursuant to which Broadcom shareholders will receive $54.50 in cash and 0.4378 of an Avago share. The complaint seeks injunctive relief on behalf of the named plaintiffs and all other similarly situated shareholders of Broadcom as of May 28, 2015. The named plaintiffs are represented by WeissLaw LLP. The named plaintiffs allege that certain of the defendants breached their fiduciary duties of loyalty and due care owed to Broadcom shareholders; and in an attempt to secure shareholder approval of the Proposed Transaction, filed a materially false and misleading registration statement on Form S-4 with the U.S. Securities and Exchange Commission in violation of the Exchange Act and their fiduciary duties of candor and full disclosure. The omitted and/or misrepresented information is believed to be material to Broadcom shareholders' ability to make an informed decision whether to approve the Proposed Transaction.

Broadcom Corp. Declares Quarterly Dividend, Payable on September 14, 2015

Broadcom Corporation announced it will pay its next quarterly cash dividend of $0.14 per share to holders of the Company's common stock. The $0.14 dividend was declared by the Board of Directors on August 13, 2015 and will be paid on September 14, 2015 to holders of record of the Company's Class A and Class B common stock at the close of business on August 28, 2015.

Broadcom Unveils New DOCSIS-Compatible 10G EPON Residential Gateway Platform

Broadcom Corporation has unveiled a new DOCSIS-compatible 10G ethernet passive optical network, or EPON, residential gateway reference design. Broadcom's new platform allows cable Multiple System Operators (MSOs) to provide multi-Gigabit speeds for home subscribers' Video-on-Demand (VOD), HD IPTV, Voice over IP (VoIP) and high-speed Internet via a Fiber-to-the-home (FTTH) solution. The new gateway platform combines Broadcom's BCM55030, a 10G/10G EPON Optical Network Unit (ONU) system-on-a-chip (SoC), with the widely deployed BCM33843 DOCSIS 3.0 cable gateway device. Broadcom's new integrated gateway complements traditional technologies, enabling MSOs to quickly provide multi-Gigabit speeds to their subscribers without expensive upgrades to current infrastructure. Broadcom's 10G EPON gateway adheres to the preliminary CableLabs DPoE 2.0 specification, which allows the PON gateway to look and function like a traditional DOCSIS gateway. Built-in 10G symmetric EPON WAN technology supports multi-Gigabit speeds, allowing multiple FTTH subscribers to achieve 1G symmetric performance simultaneously on a single PON. Key features of the BCM55030 include delivering the industry's high EPON ONU integration, including a 10 Gbps media access controller, 10 Gbps EPON serializers/deserializers and forward error correction, a four-port Gigabit Ethernet switch, traffic management, and on-chip memory for both CPU and packet buffers resulting in no external memory components; complying with the IEEE 802.3av 10G EPON standard including support for 10G/10G, 10G/1G and legacy 1G/1G EPON, and supporting Broadcom's 2.5G TURBO-EPON in addition to both standard 1G and 10G modes. Key features of the BCM33843 include delivering 16 downstream channels supporting DOCSIS and/or video and four upstream channels; dedicated DOCSIS CPU supporting double the memory of prior generations, a dedicated multi-threaded applications processor with an over 400% increase in CPU power, and multiple hardware offload engines; Full-Band Capture (FBC) digital tuning technology and remote diagnostics; digital tuning with advanced signal processing techniques, and supporting DOCSIS and digital video on any frequency, eliminating limitations of block tuners.

Broadcom Unveils New 25/50G Ethernet Controller Product Family

Broadcom Corporation has unveiled a new scalable 10G/25G/40G/50G ethernet controller product family. The BCM57300 NetXtreme C-Series delivers the industry's lowest power and smallest package 25/50G solution for the cloud data center market. With this introduction, Broadcom further extends its end-to-end portfolio and reinforces its commitment to meeting the current and future needs of cloud-scale data centers. With almost half of cloud service providers' servers virtualized and the number of virtual machines per server expected to double to 96 by 20171, it is critical for next-generation Ethernet controllers to accelerate the increased flow processing driven by virtualization. Broadcom's NetXtreme C-Series controllers deliver bidirectional 50G throughput with 30Mpps performance and the increased flow processing that data centers need to support higher virtual machine density. Integrated flow processing with TruFlow can double network throughput and provide up to a 50% increase in application performance compared to a software-only solution. When combined with the StrataXGS Tomahawk Ethernet Switch, the NetXtreme C-Series controllers form an 25/50G end-to-end solution for data centers that delivers connectivity in accordance with the Broadcom co-founded 25/50G Consortium and draft IEEE standard. The BCM57300 provides rapid, hardware-based, congestion notification responses that are 5,000x faster than traditional software-based approaches. When combined with StrataXGS switches, data centers are able to avoid network congestion before it happens, enabling deterministic workload performance across the network.

Broadcom Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Third Quarter Ending September 30, 2015

Broadcom Corporation reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total net revenue of $2,096 million compared to $2,041 million a year ago. Income from operations was $402 million compared to income from operations of $14 million a year ago. Income before income taxes was $394 million compared to income before income taxes of $1 million a year ago. Net income was $386 million or $0.63 per diluted share compared to net loss of $1 million a year ago. Net cash provided by operating activities was $802 million compared to $225 million a year ago. Net purchases of property and equipment were $17 million compared to $80 million a year ago. Non-GAAP net income was $445 million or $0.72 per diluted share compared to $290 million or $0.49 per diluted share a year ago. For the six months period, the company reported total net revenue of $4,154 million compared to $4,025 million a year ago. Income from operations was $625 million compared to income from operations of $184 million a year ago. Income before income taxes was $612 million compared to income before income taxes of $169 million a year ago. Net income was $595 million or $0.97 per basic and diluted share compared to net income of $164 million or $0.28 per basic and diluted share a year ago. Net cash provided by operating activities was $777 million compared to $831 million a year ago. Net purchases of property and equipment were $173 million compared to $158 million a year ago. Non-GAAP net income was $835 million or $1.36 per diluted share compared to $487 million or $0.82 per diluted share a year ago. The company provided earnings guidance for the third quarter ending September 30, 2015. For the quarter, the company expects total net revenue between $2.135 billion +/- 75 million; gross margin (GAAP) of 53.8% +/- 75 basis points; and gross margin (Non-GAAP) of 55.3% +/- 75 basis points.

 

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Price/Earnings 29.2x
Price/Sales 3.6x
Price/Book 3.3x
Price/Cash Flow 28.6x
TEV/Sales 3.1x
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