Broadcom (NYSE: BRCM) Shares Up 1.5% After Goldman Upgraded The Company To Buy

Broadcom Corp. (NASDAQ:BRCM) shares rose 1.5% to $34.11 after the company was upgraded to "buy" from "neutral" at Goldman Sachs.

The company also announced a new series of multi-layer Ethernet devices that enable faster connectivity between servers in the data center today.

Chief technical officer Henry Tso said, "The data center segment is an important growth area for our business. Broadcom's latest series of high density 10GbE solutions enables us to meet the virtualization and converged scalable services demands of our customers' next generation energy efficient data center."