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Technology Stocks : Broadcom (BRCM) -- Ignore unavailable to you. Want to Upgrade?

To: Paul Viapiano who wrote (5364)	2/3/2001 2:29:52 PM
From: Stoctrash	Respond to of 6531

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.... ================ 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.