Shares of Irvine-based Broadcom Corp. have broken out of a six-month funk, outpacing a larger rebound among chipmakers.
The company’s shares are up roughly 30% since the start of the year and 70% higher than their recent low in November.
“The whole chip group has had a pretty big run lately,” buoyed by promising consumer demand, said Craig Berger, analyst at FBR Capital Markets & Co. in Arlington, Va.
Broadcom’s rally has outpaced some other chipmakers and the industry as a whole. The Philadelphia Semiconductor Index, which tracks 18 chip stocks including Broadcom, is up 14% since the start of the year and nearly 50% since the November trough.
Rivals Qualcomm Inc. and Texas Instruments Inc. have seen their shares rise, but not as quickly.
Qualcomm, which makes cell phone chips, is up 12% for the year and up 40% since November.
Texas Instruments is up 7% since January and 22% since November.
For more on this story, read the April 13 issue of the Business Journal.
