Broadcom Ends Brutal Week That Cost a Third of Its Value

Broadcom Corp.’s beleaguered stock lost a third of its value this week as it hit 52-week lows every day and ended up as the worst-performing stock on the Standard & Poor’s 500 Index.

Shares of the Irvine communications chip maker lost a total of $23.13 for the week and closed Friday at $46.31, down $1.69 a share from Thursday’s close on Nasdaq.

Analysts have lowered earnings and sales estimates because Broadcom’s main customers, like Cisco Systems Inc. and 3Com Corp., aren’t selling as much as expected and, therefore, aren’t ordering as many components.

Broadcom, however, hasn’t provided a new forecast.