Investors Sell Avago Technologies Ltd. (AVGO) on Strength (AVGO)
Investors sold shares of Avago Technologies Ltd. (NASDAQ:AVGO) on strength during trading on Friday. $96.53 million flowed into the stock on the tick-up and $111.02 million flowed out of the stock on the tick-down, for a money net flow of $14.49 million out of the stock. Of all stocks tracked, Avago Technologies had the 0th highest net out-flow for the day. Avago Technologies traded up $1.12 for the day and closed at $177.16
AVGO has been the topic of several recent analyst reports. Cowen and Company raised their target price on shares of Avago Technologies from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 3rd. Vetr lowered shares of Avago Technologies from a “hold” rating to a “sell” rating and set a $171.91 target price on the stock. in a report on Tuesday, August 23rd. SunTrust Banks Inc. raised their target price on shares of Avago Technologies from $189.00 to $211.00 and gave the company a “buy” rating in a report on Friday, June 3rd. Zacks Investment Research raised shares of Avago Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Finally, Craig Hallum lifted their price target on shares of Avago Technologies from $190.00 to $200.00 and gave the company a “buy” rating in a report on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-three have given a buy rating and one has given a strong buy rating to the stock. Avago Technologies presently has an average rating of “Buy” and a consensus target price of $184.91.
The firm’s 50-day moving average is $166.84 and its 200-day moving average is $152.84. The company’s market capitalization is $70.07 billion.
Avago Technologies (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, June 2nd. The semiconductor manufacturer reported $2.53 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.15. During the same period last year, the firm earned $2.13 earnings per share. The business earned $3.56 billion during the quarter. The firm’s revenue for the quarter was up 116.5% compared to the same quarter last year. Equities research analysts forecast that Avago Technologies Ltd. will post $10.95 EPS for the current year.
In related news, SVP Bryan Ingram sold 31,487 shares of the firm’s stock in a transaction on Thursday, June 16th. The stock was sold at an average price of $157.04, for a total value of $4,944,718.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Charlie B. Kawwas sold 4,776 shares of the firm’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $165.94, for a total value of $792,529.44. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Avago Technologies stock. Schwab Charles Investment Management Inc. raised its position in Avago Technologies Ltd. (NASDAQ:AVGO) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 664,379 shares of the semiconductor manufacturer’s stock after buying an additional 23,980 shares during the period. Schwab Charles Investment Management Inc. owned 0.24% of Avago Technologies worth $96,435,000 at the end of the most recent reporting 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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