Avago Technologies Ltd. (AVGO) Sets New 1-Year High at $169.35
Shares of Avago Technologies Ltd. (NASDAQ:AVGO) hit a new 52-week high on Friday . The stock traded as high as $169.35 and last traded at $169.28, with a volume of 977,647 shares trading hands. The stock had previously closed at $166.99.
Several analysts recently weighed in on AVGO shares. RBC Capital Markets set a $185.00 price objective on Avago Technologies and gave the company a “buy” rating in a report on Wednesday. Vetr downgraded Avago Technologies from a “strong-buy” rating to a “buy” rating and set a $170.30 target price for the company. in a research note on Monday, July 11th. BMO Capital Markets restated a “buy” rating and issued a $200.00 target price on shares of Avago Technologies in a research note on Sunday, July 10th. Bank of America Corp. restated a “sell” rating on shares of Avago Technologies in a research note on Friday, April 15th. Finally, SunTrust Banks Inc. restated a “buy” rating on shares of Avago Technologies in a research note on Saturday, June 25th. Four investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $183.01.
The stock’s 50 day moving average price is $157.97 and its 200-day moving average price is $147.72. The stock’s market capitalization is $67.29 billion.
Avago Technologies (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, June 2nd. The semiconductor manufacturer reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.15. The company had revenue of $3.56 billion for the quarter. The firm’s revenue for the quarter was up 116.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 EPS. On average, equities analysts predict that Avago Technologies Ltd. will post $10.95 EPS for the current fiscal year.
In other Avago Technologies news, SVP Charlie B. Kawwas sold 4,776 shares of Avago Technologies stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $165.94, for a total value of $792,529.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kirsten M. Spears sold 1,178 shares of Avago Technologies stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $163.56, for a total transaction of $192,673.68. Following the completion of the sale, the insider now owns 23,697 shares in the company, valued at $3,875,881.32. The disclosure for this sale can be found here.
A number of large investors have modified their holdings of AVGO. Cambridge Investment Research Advisors Inc. raised its stake in shares of Avago Technologies by 133.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 7,366 shares of the semiconductor manufacturer’s stock valued at $1,069,000 after buying an additional 4,207 shares during the last quarter. Alta Park Capital LP purchased a new position in shares of Avago Technologies during the fourth quarter worth approximately $1,161,000. Andra AP fonden increased its position in shares of Avago Technologies by 10.5% in the fourth quarter. Andra AP fonden now owns 14,700 shares of the semiconductor manufacturer’s stock worth $2,134,000 after buying an additional 1,400 shares during the period. Cibc World Markets Corp increased its position in shares of Avago Technologies by 27.3% in the fourth quarter. Cibc World Markets Corp now owns 22,886 shares of the semiconductor manufacturer’s stock worth $3,322,000 after buying an additional 4,913 shares during the period. Finally, Advantus Capital Management Inc increased its position in shares of Avago Technologies by 3.9% in the fourth quarter. Advantus Capital Management Inc now owns 25,473 shares of the semiconductor manufacturer’s stock worth $3,697,000 after buying an additional 954 shares during the period.
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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