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Broadcom Corp. (NASDAQ:BRCM)‘s stock had its “outperform” rating restated by Zacks in a research report issued on Wednesday, AnalystRatings.Net reports. They currently have a $35.00 price objective on the stock. Zacks‘ target price would indicate a potential upside of 19.86% from the company’s current price.

Zacks‘ analyst wrote, “Broadcom reported healthy fourth quarter 2013 results as both adjusted earnings and revenues comfortably beat the Zacks Consensus Estimates. The company is well-positioned in the fast-growing wired and wireless communications markets, with cutting-edge solutions for an increased number of connected users that require more content and bandwidth. Broadcom’s product leadership, solid financial performance and strong cash flow generation remain positives. However, we are concerned about margin pressure due to the accelerated new product ramp up and concentration risks. Nevertheless, we maintain our long-term Outperform recommendation for the stock as we expect it to perform well above the broader market. “

In other Broadcom Corp. news, EVP Robert Rango sold 4,687 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $30.00, for a total value of $140,610.00. Following the sale, the executive vice president now directly owns 290,863 shares in the company, valued at approximately $8,725,890. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Broadcom Corp. (NASDAQ:BRCM) traded down 0.31% on Wednesday, hitting $29.11. 3,166,495 shares of the company’s stock traded hands. Broadcom Corp. has a 52 week low of $23.25 and a 52 week high of $37.85. The stock’s 50-day moving average is $29.16 and its 200-day moving average is $27.35. The company has a market cap of $16.767 billion and a P/E ratio of 40.00.

Broadcom Corp. (NASDAQ:BRCM) last announced its earnings results on Thursday, January 30th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.57 by $0.03. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.02 billion. On average, analysts predict that Broadcom Corp. will post $2.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Monday, March 3rd. Stockholders of record on Friday, February 14th will be given a dividend of 0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Wednesday, February 12th. This is a boost from Broadcom Corp.’s previous quarterly dividend of $0.11.

Several other analysts have also recently commented on the stock. Analysts at JMP Securities raised their price target on shares of Broadcom Corp. from $31.00 to $33.00 in a research note to investors on Friday, January 31st. Separately, analysts at Evercore Partners raised their price target on shares of Broadcom Corp. from $34.00 to $35.00 in a research note to investors on Friday, January 31st. Finally, analysts at Citigroup Inc. raised their price target on shares of Broadcom Corp. from $30.00 to $33.00 in a research note to investors on Friday, January 31st. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-one have issued a buy rating to the stock. Broadcom Corp. currently has a consensus rating of “Buy” and a consensus target price of $32.28.

Broadcom Corporation (NASDAQ:BRCM) is a global semiconductor solution for wired and wireless communications.

To view Zacks’ full report, visit www.zacks.com

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