Broadcom (BRCM) Beats Estimates

Broadcom (BRCM) beat Wall-Street GAAP estimates by $0.06. Fully diluted GAAP earnings for Q4 were $0.50 vs. the $0.44 estimate. I was worried about the earnings because of the insider selling in January by CEO Scott McGregor. Broadcom also announced a 3-for-2 stock split and a $500 million stock buyback. Broadcom is up about 8% in after hours trading. We should see some price target increases as well as some upgrades on Friday.
GAAP Net Income
2005
$411.7 Million $1.10 Per Share
2004
$218.7 Million $0.63

List of Upgrades to Come
(I know Goldman has a buy but there are many bearish analysts on this stock)
Stifel Nicolaus Downgraded to Hold 12/19/05
Needham & Co Has a Hold 7/22/05
Friedman Billings Mkt Perform 7/7/05
CIBC Wrld Mkts Sector Perform 6/27/05

Note: I am long Broadcom (BRCM)