Avago Technologies Ltd. (AVGO) Shares Down 2.6%
Avago Technologies Ltd. (NASDAQ:AVGO) fell 2.6% during trading on Friday . The company traded as low as $168.80 and last traded at $172.55, with a volume of 5,873,382 shares trading hands. The stock had previously closed at $177.09.
A number of research firms have commented on AVGO. Canaccord Genuity lifted their target price on Avago Technologies from $200.00 to $215.00 and gave the company a “buy” rating in a research report on Friday. Brean Capital lifted their target price on Avago Technologies to $205.00 in a research report on Friday. Drexel Hamilton lifted their target price on Avago Technologies from $192.00 to $201.00 and gave the company a “buy” rating in a research report on Friday. Vetr downgraded Avago Technologies from a “buy” rating to a “hold” rating and set a $156.91 target price on the stock. in a research report on Tuesday, May 24th. Finally, B. Riley restated a “buy” rating and issued a $190.00 target price on shares of Avago Technologies in a research report on Monday, May 23rd. Three investment analysts have rated the stock with a hold rating, thirty-five have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $191.34.
The company’s market cap is $68.47 billion. The company’s 50 day moving average price is $169.05 and its 200 day moving average price is $154.49.
Avago Technologies (NASDAQ:AVGO) last issued its earnings results on Thursday, September 1st. The semiconductor manufacturer reported $2.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.77 by $0.12. During the same quarter in the prior year, the company earned $2.24 earnings per share. The business earned $3.80 billion during the quarter. The firm’s revenue was up 117.3% compared to the same quarter last year. On average, equities analysts forecast that Avago Technologies Ltd. will post $10.95 earnings per share for the current year.
In other Avago Technologies news, VP Patricia H. Mccall sold 8,000 shares of the firm’s stock in a transaction dated Friday, July 8th. The shares were sold at an average price of $154.37, for a total value of $1,234,960.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Henry Samueli sold 21,859 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $154.84, for a total transaction of $3,384,647.56. The disclosure for this sale can be found here.
Several large investors have added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its stake in Avago Technologies by 3.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 664,379 shares of the semiconductor manufacturer’s stock worth $96,435,000 after buying an additional 23,980 shares during the period. Baird Financial Group Inc. boosted its stake in Avago Technologies by 32.7% in the fourth quarter. Baird Financial Group Inc. now owns 21,028 shares of the semiconductor manufacturer’s stock worth $3,052,000 after buying an additional 5,183 shares during the period. Finally, American International Group Inc. boosted its stake in Avago Technologies by 3.6% in the fourth quarter. American International Group Inc. now owns 122,300 shares of the semiconductor manufacturer’s stock worth $17,751,000 after buying an additional 4,211 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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