Avago Technologies Ltd. (AVGO) Given Overweight Rating at JPMorgan Chase & Co.
JPMorgan Chase & Co. reiterated their overweight rating on shares of Avago Technologies Ltd. (NASDAQ:AVGO) in a research report released on Friday morning. The firm currently has a $220.00 price objective on the semiconductor manufacturer’s stock.
Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald raised their target price on Avago Technologies from $185.00 to $200.00 and gave the stock a buy rating in a research report on Friday, June 3rd. Drexel Hamilton raised their target price on Avago Technologies from $169.00 to $192.00 and gave the stock a buy rating in a research report on Friday, June 3rd. Oppenheimer Holdings Inc. restated a buy rating and set a $180.00 target price (up previously from $170.00) on shares of Avago Technologies in a research report on Thursday, June 2nd. B. Riley raised their target price on Avago Technologies from $190.00 to $200.00 and gave the stock a buy rating in a research report on Friday, June 3rd. Finally, Vetr upgraded Avago Technologies from a hold rating to a buy rating and set a $162.73 target price for the company in a research report on Thursday, June 2nd. Two analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $196.87.
Shares of Avago Technologies (NASDAQ:AVGO) traded down 0.33% during mid-day trading on Friday, hitting $171.95. The stock had a trading volume of 397,502 shares. The stock’s market cap is $68.32 billion. Avago Technologies has a 12-month low of $111.53 and a 12-month high of $179.42. The firm’s 50-day moving average price is $171.86 and its 200 day moving average price is $159.18.
Avago Technologies (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $2.89 EPS for the quarter, topping the Zacks’ consensus estimate of $2.77 by $0.12. Avago Technologies had a positive return on equity of 25.06% and a negative net margin of 6.20%. The company earned $3.80 billion during the quarter. During the same quarter in the prior year, the business posted $2.24 EPS. Avago Technologies’s revenue was up 117.3% compared to the same quarter last year. Equities analysts forecast that Avago Technologies will post $11.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were paid a $0.51 dividend. The ex-dividend date of this dividend was Thursday, September 15th. This is an increase from Avago Technologies’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 1.18%. Avago Technologies’s payout ratio is currently -208.16%.
In other Avago Technologies news, insider Henry Samueli sold 21,859 shares of the business’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $154.84, for a total value of $3,384,647.56. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Patricia H. Mccall sold 8,000 shares of the business’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $154.37, for a total transaction of $1,234,960.00. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Hollencrest Securities LLC boosted its position in Avago Technologies by 1.2% in the second quarter. Hollencrest Securities LLC now owns 1,324 shares of the semiconductor manufacturer’s stock worth $206,000 after buying an additional 16 shares during the last quarter. Guardian Life Insurance Co of America boosted its position in Avago Technologies by 15.7% in the first quarter. Guardian Life Insurance Co of America now owns 1,439 shares of the semiconductor manufacturer’s stock worth $222,000 after buying an additional 195 shares during the last quarter. IFP Advisors Inc boosted its position in Avago Technologies by 95.5% in the first quarter. IFP Advisors Inc now owns 1,521 shares of the semiconductor manufacturer’s stock worth $235,000 after buying an additional 743 shares during the last quarter. Rehmann Capital Advisory Group purchased a new position in Avago Technologies during the first quarter worth about $250,000. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new position in Avago Technologies during the second quarter worth about $318,000. Hedge funds and other institutional investors own 91.45% of the company’s stock.
Avago Technologies Company Profile
Broadcom Limited is a semiconductor company. The Company offers a range of products in end-markets, including wired infrastructure, wireless communications, enterprise storage, and industrial and others. The Company’s products are used in various applications, including data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, data center servers and storage, factory automation, power generation and alternative energy systems, and displays.
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