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 Avago Technologies 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 SEC, which can be accessed through the SEC website.
Avago Technologies Ltd. (NASDAQ:AVGO) opened at 169.83 on Thursday. The firm’s market capitalization is $67.48 billion. The stock’s 50 day moving average is $171.74 and its 200-day moving average is $158.01. Avago Technologies Ltd. has a 1-year low of $111.53 and a 1-year high of $179.42.
Avago Technologies (NASDAQ:AVGO) last announced its earnings results on Thursday, September 1st. The semiconductor manufacturer reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 business earned $3.80 billion during the quarter. During the same period in the prior year, the business earned $2.24 EPS. Avago Technologies’s quarterly revenue was up 117.3% on a year-over-year basis. Analysts forecast that Avago Technologies Ltd. will post $11.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 19th will be paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, September 15th. This is an increase from Avago Technologies’s previous quarterly dividend of $0.50. Avago Technologies’s dividend payout ratio (DPR) is currently -208.16%.
A number of institutional investors have recently made changes to their positions in the company. Telemus Capital LLC purchased a new position in shares of Avago Technologies during the first quarter worth $1,471,000. Apex Capital Management increased its position in shares of Avago Technologies by 35.4% in the first quarter. Apex Capital Management now owns 12,366 shares of the semiconductor manufacturer’s stock worth $1,911,000 after buying an additional 3,232 shares in the last quarter. Factory Mutual Insurance Co. increased its position in shares of Avago Technologies by 265.6% in the first quarter. Factory Mutual Insurance Co. now owns 365,606 shares of the semiconductor manufacturer’s stock worth $56,486,000 after buying an additional 265,606 shares in the last quarter. Investment Centers of America Inc. increased its position in shares of Avago Technologies by 7.2% in the first quarter. Investment Centers of America Inc. now owns 3,264 shares of the semiconductor manufacturer’s stock worth $500,000 after buying an additional 218 shares in the last quarter. Finally, New Century Investment Management Inc. increased its position in shares of Avago Technologies by 96.3% in the first quarter. New Century Investment Management Inc. now owns 13,924 shares of the semiconductor manufacturer’s stock worth $2,151,000 after buying an additional 6,831 shares in the last quarter. 91.45% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the company. Mizuho lifted their price objective on Avago Technologies from $190.00 to $200.00 and gave the company a “buy” rating in a report on Monday, August 29th. Vetr downgraded 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. assumed 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 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 analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the stock. Avago Technologies presently has a consensus rating of “Buy” and a consensus target price 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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