Broadcom Faces Increased Loss in Connectivity and 3 More Research Notes to Read Through
Broadcom (NASDAQ:BRCM): Pacific Crest has downgraded Broadcom to Sector Perform from Outperform due to increased risk of share loss in connectivity. The firm said Texas Instruments’s $315-million licensing deal for wireless connectivity IP and Apple’s (NASDAQ:AAPL) hiring of ex-Texas Instruments OMAP connectivity employees increases the risk that Apple will bring connectivity solutions in-house in the future, therefore displacing Broadcom.
Biogen (NASDAQ:BIIB): JMP Securities points out that a patient who died after taking Biogen’s Tecfidera had discontinued the drug more than two weeks before her death due to pneumonia. The firm believes that the patient’s medical history also increased her risk of infection, and BMO does not expect the death to affect the Tecfidera launch. The firm reiterates a $240 price target and Outperform rating on the shares.
Halliburton (NYSE:HAL): UBS says that Halliburton remains a top pick in the group due to top-tier international growth, North American improving margin outlook, strong execution, and valuation. It rates the stock at Buy with a $53 price target.
Teradyne (NYSE:TER): DA Davidson is expecting Teradyne’s second-quarter results to be lifted by a partial recovery in its Semiconductor Test unit, as well as meaningful growth in its Wireless Test unit. The firm reiterates a Buy rating on the stock.