I dunno..but i'm getting sick of the rehashing my story thou and I'll bet others are too.
Lehman has a 12/m target of $120??
Here is their story below, I'll let them tell it.
I'm going surfing now.......later....
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Broadcom Corp(BRCM) 3 - Market Perform A. Chanda
Franchise Edge Communications IC Gorilla (C)
OLD NEW STREET P/E
Price: $109.94 EPS 2000 N/A $1.04 N/A N/A
52 Wk Ra: $275 - 72 EPS 2001 N/A $1.53E $1.55E 71.9
Mkt Cap: $30.1B EPS 2002 N/A N/A $2.09E N/A
FY: 12/31 Price Target N/A $120
Rank N 3
We are establishing C01 revenues of $2.26 billion (up 100% y/y) and EPS of $1.53. We believe that given the current inventory
correction and the premium valuation we would exhibit caution.
Broadcom is a franchise player in communications ICs in the network edge expanding into the network core. Broadcom’s strategy is
to sell highly integrated systems-on-silicon based on CMOS technology to various communications end-markets. Broadcom
currently has about 50% of revenues from cable set-tops and modems, and 40% of revenues from the enterprise LAN. New product
highlights include optical networking, home networking, voice over IP, bluetooth etc. The top 3 customers were 3Com (22%, up
99% q/q), Motorola (20%, up 3% q/q), and Cisco (12%, down 17% q/q).
Broadcom reported Q4 revenues of $376.1 million (up 18% q/q) and EPS of $0.32 vs Street consensus of $0.31. Gross margins were
at 57.5%, down 10 bp q/q. DSOs were down from 44 days to 42 days. |
