Avago Technologies Ltd. (AVGO) Sets New 52-Week High at $167.60
Avago Technologies Ltd. (NASDAQ:AVGO) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $167.60 and last traded at $164.71, with a volume of 1,672,346 shares. The stock had previously closed at $163.44.
Several equities research analysts have recently issued reports on AVGO shares. Vetr downgraded shares of Avago Technologies from a “strong-buy” rating to a “buy” rating and set a $170.30 price objective on the stock. in a research note on Monday, July 11th. BMO Capital Markets restated a “buy” rating and issued a $200.00 price objective on shares of Avago Technologies in a research note on Sunday, July 10th. Bank of America Corp. restated a “sell” rating on shares of Avago Technologies in a research note on Friday, April 15th. SunTrust Banks Inc. restated a “buy” rating on shares of Avago Technologies in a research note on Saturday, June 25th. Finally, Zacks Investment Research downgraded shares of Avago Technologies from a “buy” rating to a “hold” rating in a research note on Monday, April 4th. Three investment analysts have rated the stock with a hold rating, thirty-two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Avago Technologies currently has an average rating of “Buy” and a consensus price target of $182.95.
The company’s 50 day moving average is $157.44 and its 200-day moving average is $146.06. The stock’s market cap is $65.55 billion.
Avago Technologies (NASDAQ:AVGO) last posted its earnings results on Thursday, June 2nd. The semiconductor manufacturer reported $2.53 EPS for the quarter, beating the consensus estimate of $2.38 by $0.15. The firm earned $3.56 billion during the quarter. The company’s revenue was up 116.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.13 EPS. On average, equities analysts expect that Avago Technologies Ltd. will post $10.94 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Friday, June 17th were given a $0.50 dividend. The ex-dividend date of this dividend was Wednesday, June 15th. This represents a $2.00 annualized dividend and a yield of 1.22%. This is a positive change from Avago Technologies’s previous quarterly dividend of $0.49.
In other news, VP Patricia H. Mccall sold 8,000 shares of the stock in a transaction dated Friday, July 8th. The stock was 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lake (Offshore) Aiv Gp Silver sold 3,100,000 shares of the stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $163.77, for a total value of $507,687,000.00. The disclosure for this sale can be found here.
Several large investors recently modified their holdings of the stock. Alta Park Capital LP bought a new stake in shares of Avago Technologies during the fourth quarter valued at $1,161,000. Utah Retirement Systems boosted its stake in shares of Avago Technologies by 0.4% in the fourth quarter. Utah Retirement Systems now owns 46,097 shares of the semiconductor manufacturer’s stock valued at $6,691,000 after buying an additional 200 shares during the last quarter. Westfield Capital Management Co. LP boosted its stake in shares of Avago Technologies by 47.3% in the fourth quarter. Westfield Capital Management Co. LP now owns 684,901 shares of the semiconductor manufacturer’s stock valued at $99,413,000 after buying an additional 219,813 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Avago Technologies by 6.2% in the fourth quarter. State of Tennessee Treasury Department now owns 829,882 shares of the semiconductor manufacturer’s stock valued at $120,458,000 after buying an additional 48,185 shares during the last quarter. Finally, Affinity Investment Advisors LLC boosted its stake in shares of Avago Technologies by 3.7% in the fourth quarter. Affinity Investment Advisors LLC now owns 77,526 shares of the semiconductor manufacturer’s stock valued at $11,253,000 after buying an additional 2,750 shares during the last quarter.
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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