Avago Technologies Ltd. (NASDAQ:AVGO) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday. They currently have a $195.95 price target on the semiconductor manufacturer’s stock. Vetr‘s target price would suggest a potential upside of 10.86% from the company’s previous close.
Several other research firms also recently commented on AVGO. Bank of America Corp. reiterated a “buy” rating and issued a $215.00 price objective (up from $210.00) on shares of Avago Technologies in a report on Tuesday, September 6th. B. Riley restated a “buy” rating and issued a $200.00 price target on shares of Avago Technologies in a research note on Tuesday, August 30th. Susquehanna initiated coverage on shares of Avago Technologies in a research note on Tuesday, September 20th. They issued a “positive” rating and a $200.00 price target on the stock. Mizuho upped their price target on shares of Avago Technologies from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, August 29th. Finally, Sanford C. Bernstein initiated coverage on shares of Avago Technologies in a research note on Tuesday, October 4th. They issued an “outperform” rating and a $215.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $197.40.
Avago Technologies (NASDAQ:AVGO) traded down 0.19% on Monday, hitting $176.75. 819,822 shares of the stock traded hands. The stock’s market cap is $70.23 billion. Avago Technologies has a 12-month low of $114.25 and a 12-month high of $179.42. The stock has a 50-day moving average price of $171.71 and a 200 day moving average price of $164.72.
Avago Technologies (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $2.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.77 by $0.12. Avago Technologies had a negative net margin of 6.20% and a positive return on equity of 25.06%. The firm had revenue of $3.80 billion for the quarter. During the same quarter in the prior year, the firm earned $2.24 earnings per share. Avago Technologies’s revenue for the quarter was up 117.3% on a year-over-year basis. On average, equities analysts expect that Avago Technologies will post $11.25 EPS for the current fiscal year.
In other news, VP Patricia H. Mccall sold 2,500 shares of the business’s stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $164.50, for a total transaction of $411,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Bryan Ingram sold 31,488 shares of the business’s stock in a transaction dated 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. Insiders own 6.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of AVGO. Junto Capital Management LP acquired a new position in shares of Avago Technologies during the first quarter valued at approximately $31,070,000. Samlyn Capital LLC raised its position in shares of Avago Technologies by 51.6% in the first quarter. Samlyn Capital LLC now owns 277,210 shares of the semiconductor manufacturer’s stock valued at $42,829,000 after buying an additional 94,300 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Avago Technologies during the first quarter valued at approximately $517,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Avago Technologies during the first quarter valued at approximately $1,330,000. Finally, Jana Partners LLC acquired a new position in shares of Avago Technologies during the first quarter valued at approximately $5,408,000. 90.57% of the stock is owned by institutional investors.
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.