Despite a very solid Q1 earnings report, BRCM traded down on Friday after several cautious statements by analysts. UBS had the most cryptic of statements on Friday, first raising their 2006 and 2007 earnings estimates for the stock and raising their price target, but then saying that it could be difficult for the stock to deliver dramatic upside in the future. Volume was heavy on Friday, with over 34 million shares of the stock changing hands, compared to a normal daily average of just over 15 million shares traded. The stock actually gapped up slightly on Friday before selling off, and closing the day down over 4.6% to finish the session at $43.65. BRCM reported a profit for Q1 of 36 cents per share excluding one-time items, on revenues of $900.6 million dollars.
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