Bryan Ingram Sells 31,488 Shares of Avago Technologies Ltd. (AVGO) Stock
Avago Technologies Ltd. (NASDAQ:AVGO) SVP Bryan Ingram sold 31,488 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $169.27, for a total value of $5,329,973.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Avago Technologies Ltd. (NASDAQ:AVGO) opened at 169.83 on Thursday. The firm’s 50-day moving average price is $171.74 and its 200-day moving average price is $158.01. Avago Technologies Ltd. has a 12-month low of $111.53 and a 12-month high of $179.42. The company’s market cap is $67.48 billion.
Avago Technologies (NASDAQ:AVGO) last posted its earnings results on Thursday, September 1st. The semiconductor manufacturer reported $2.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.77 by $0.12. Avago Technologies had a positive return on equity of 25.06% and a negative net margin of 6.20%. The company had revenue of $3.80 billion for the quarter. During the same quarter last year, the business earned $2.24 earnings per share. Avago Technologies’s quarterly revenue was up 117.3% on a year-over-year basis. Analysts expect that Avago Technologies Ltd. will post $11.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be issued a dividend of $0.51 per share. This is a positive change from Avago Technologies’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, September 15th. Avago Technologies’s dividend payout ratio (DPR) is -208.16%.
A number of institutional investors have recently bought and sold shares of AVGO. Hollencrest Securities LLC raised its position in 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 raised its position in 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 raised its position in 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 bought a new position in Avago Technologies during the first quarter valued at $250,000. Finally, Boussard & Gavaudan Investment Management LLP bought a new position in Avago Technologies during the first quarter valued at $264,000. Institutional investors own 91.45% of the company’s stock.
A number of research analysts recently weighed in on AVGO shares. Mizuho upped their price objective on Avago Technologies from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, August 29th. Vetr lowered Avago Technologies from a “hold” rating to a “sell” rating and set a $171.91 price objective on the stock. in a report on Monday, August 29th. Citigroup Inc. started coverage on Avago Technologies in a report on Tuesday, August 30th. They set a “buy” rating and a $205.00 price objective on the stock. Barclays PLC reaffirmed an “overweight” rating and set a $185.00 price objective (down previously from $200.00) on shares of Avago Technologies in a report on Tuesday, August 30th. Finally, DA Davidson reaffirmed a “buy” rating and set a $190.00 price objective on shares of Avago Technologies in a report on Tuesday, August 30th. Two research analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $194.64.
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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