Analysts Set Avago Technologies Ltd. (NASDAQ:AVGO) Price Target at $197.80
Shares of Avago Technologies Ltd. (NASDAQ:AVGO) have been assigned a consensus recommendation of “Buy” from the forty research firms that are presently covering the stock. Two analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $198.54.
Several analysts have recently weighed in on AVGO shares. Brean Capital restated a “buy” rating on shares of Avago Technologies in a research note on Wednesday, September 21st. RBC Capital Markets set a $185.00 price target on Avago Technologies and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Vetr downgraded Avago Technologies from a “hold” rating to a “sell” rating and set a $171.91 price target for the company. in a research note on Tuesday, August 23rd. Pacific Crest restated an “overweight” rating and issued a $180.00 target price on shares of Avago Technologies in a research note on Friday, August 26th. Finally, DA Davidson restated a “buy” rating and issued a $190.00 target price on shares of Avago Technologies in a research note on Tuesday, August 30th.
In other news, SVP Bryan Ingram sold 31,488 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $169.27, for a total transaction of $5,329,973.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Patricia H. Mccall sold 8,000 shares of the business’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of $154.37, for a total transaction of $1,234,960.00. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of AVGO. Hollencrest Securities LLC boosted 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 in the last quarter. Guardian Life Insurance Co of America boosted 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 in the last quarter. IFP Advisors Inc boosted 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 in the last quarter. Rehmann Capital Advisory Group bought a new position in Avago Technologies during the first quarter valued at approximately $250,000. Finally, Mitchell Mcleod Pugh & Williams Inc. bought a new position in Avago Technologies during the second quarter valued at approximately $318,000. Institutional investors and hedge funds own 91.45% of the company’s stock.
Shares of Avago Technologies (NASDAQ:AVGO) opened at 170.07 on Thursday. Avago Technologies has a 12-month low of $111.53 and a 12-month high of $179.42. The stock has a 50 day moving average price of $171.79 and a 200 day moving average price of $159.47. The stock’s market capitalization is $67.57 billion.
Avago Technologies (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $2.89 EPS for the quarter, beating the 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 period last year, the business earned $2.24 earnings per share. The company’s revenue for the quarter was up 117.3% compared to the same quarter last year. On average, equities analysts anticipate that Avago Technologies will post $11.23 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were issued a dividend of $0.51 per share. This is a boost from Avago Technologies’s previous quarterly dividend of $0.50. This represents a $2.04 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Thursday, September 15th. Avago Technologies’s payout ratio is currently -208.16%.
About Avago Technologies
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.
Receive News & Ratings for Avago Technologies Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avago Technologies Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.