After reporting their earnings late last week, BRCM has been selling off, and lost another 4.7% on Monday to close the session at $41.57. Volume was fairly heavy on Monday, with almost 20 million shares of the stock changing hands, compared to a normal daily average of just over 15.6 million shares. To me, this just looks like a classic case of a strong stock selling off on the news. BRCM has strongly trended higher over the past 6 months, and it is not surprising to me that the stock is now in sell-off mode. I believe that a continued sell-off to the high $30s would provide a great entry point to this stock, as the company seems to be executing well, and I believe that the stock will resume its move higher once this sell-off dries up.
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