Tag Archives: qcom
Broadcom Corporation (BRCM), with a market cap of $19.96B, is a global semiconductor solution for wired and wireless communications, providing system-on-a-chip, and software solutions. Broadcom continues to benefit from strong smartphone/mobile device sales, whereas BRCM’s chips provide short-range wireless connectivity in Apple (AAPL)’s iPhone and iPad, as well as Samsung’s Galaxy line of mobile devices. Apple and Samsung contribute for more than 30 percent of BRCM’s sales, which was helped by stronger iPhone sales.
Strong Revenue and Profit
BRCM posted Q1 revenue of $2.01B, up 9.7 percent from the year-earlier period and beating analysts’ expectation of $1.91B. BRCM reported net income of $191M (33 cents per share), up from $88M (15 cents per share) in Q1, 2012. Excluding one-time costs, BRCM earned 65 cents per share, beating analysts’ estimate of 56 cents per share. Solid results were due to strong demand for wireless base band and connectivity chips. The management also sees sequential growth ahead in broadband business. BRCM expects Q2 revenue of $2.02B-$2.18B, beating analysts’ average projection of $2.05B.
Qualcomm: Increasing Dividend And Repurchasing Shares To Compensate For Slower Growth [Seeknig Alpha]
Qualcomm Inc. (QCOM) designs, develops, manufactures, and markets digital telecommunications products and services, including developing and licensing wireless technology and manufacturing semiconductors for mobile phones.
On March 5, 2013, QCOM announced a new $5.0B stock repurchase program to replace the prior $4.0B stock repurchase program, which had $2.5B of repurchase authority remaining. Repurchases under this program will be made using the company’s cash resources and may be commenced or suspended at any time or from time-to-time at the company’s discretion without prior notice. Repurchases may be made in the open market, through 10b5-1 programs, in privately negotiated transactions or through the use of derivative instruments. QCOM currently has 1.72B shares outstanding. With this new repurchase program, up to 73-74M shares could be repurchased based on the current trading price, reducing up to 4.2-4.3% of total outstanding shares.