Analysts Set Avago Technologies Ltd. (NASDAQ:AVGO) Price Target at $197.80
Avago Technologies Ltd. (NASDAQ:AVGO) has been given a consensus recommendation of “Buy” by the forty research firms that are covering the company. Two investment analysts have rated the stock with a hold recommendation, thirty-six have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $198.54.
AVGO has been the subject of several recent research reports. Vetr lowered Avago Technologies from a “hold” rating to a “sell” rating and set a $155.36 price objective for the company. in a research report on Friday, August 12th. Bank of America Corp. reaffirmed a “buy” rating and issued a $215.00 price target (up previously from $210.00) on shares of Avago Technologies in a research report on Tuesday, September 6th. B. Riley reaffirmed a “buy” rating and issued a $200.00 price target on shares of Avago Technologies in a research report on Tuesday, August 30th. Susquehanna started coverage on Avago Technologies in a research report on Tuesday, September 20th. They issued a “positive” rating and a $200.00 price target for the company. Finally, Mizuho lifted their price target on Avago Technologies from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, August 29th.
Shares of Avago Technologies (NASDAQ:AVGO) opened at 170.07 on Thursday. 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 is $171.79 and its 200 day moving average is $159.47. The stock’s market capitalization is $67.57 billion.
Avago Technologies (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $2.89 EPS for the quarter, beating the consensus estimate of $2.77 by $0.12. The business earned $3.80 billion during the quarter. Avago Technologies had a positive return on equity of 25.06% and a negative net margin of 6.20%. The business’s quarterly revenue was up 117.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.24 EPS. On average, equities research 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. Investors of record on Monday, September 19th were issued a $0.51 dividend. The ex-dividend date was Thursday, September 15th. This is a boost from Avago Technologies’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a yield of 1.20%. Avago Technologies’s payout ratio is currently -208.16%.
In other news, SVP Charlie B. Kawwas sold 4,776 shares of the company’s stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $165.94, for a total transaction of $792,529.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Bryan Ingram sold 31,488 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $169.27, for a total value of $5,329,973.76. The disclosure for this sale can be found here. 6.20% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of AVGO. Hollencrest Securities LLC boosted its stake in shares of Avago Technologies by 1.2% in the second quarter. Hollencrest Securities LLC now owns 1,324 shares of the semiconductor manufacturer’s stock valued at $206,000 after buying an additional 16 shares during the period. Guardian Life Insurance Co of America boosted its stake in shares of 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 valued at $222,000 after buying an additional 195 shares during the period. IFP Advisors Inc boosted its stake in shares of Avago Technologies by 95.5% in the first quarter. IFP Advisors Inc now owns 1,521 shares of the semiconductor manufacturer’s stock valued at $235,000 after buying an additional 743 shares during the period. Rehmann Capital Advisory Group purchased a new stake in shares of Avago Technologies during the first quarter valued at about $250,000. Finally, Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in shares of Avago Technologies during the second quarter valued at about $318,000. 91.45% of the stock is currently owned by institutional investors and hedge funds.
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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