Avago Technologies Ltd. (AVGO) Sets New 12-Month High at $173.15
Avago Technologies Ltd. (NASDAQ:AVGO)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $173.15 and last traded at $172.41, with a volume of 845,136 shares changing hands. The stock had previously closed at $171.85.
Several equities analysts have commented on the company. B. Riley reissued a “buy” rating and set a $190.00 price objective on shares of Avago Technologies in a research report on Monday, May 23rd. Vetr lowered Avago Technologies from a “buy” rating to a “hold” rating and set a $156.91 price objective for the company. in a research report on Tuesday, May 24th. Mizuho raised their price objective on Avago Technologies from $175.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, June 3rd. Pacific Crest reissued a “buy” rating and set a $185.00 price objective on shares of Avago Technologies in a research report on Saturday, June 4th. Finally, Barclays PLC reissued a “buy” rating on shares of Avago Technologies in a research report on Saturday, June 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, thirty-three have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $183.21.
The company’s market cap is $68.21 billion. The firm’s 50 day moving average is $160.04 and its 200-day moving average is $149.42.
Avago Technologies (NASDAQ:AVGO) last posted its earnings results on Thursday, June 2nd. The semiconductor manufacturer reported $2.53 EPS for the quarter, topping the consensus estimate of $2.38 by $0.15. The company had revenue of $3.56 billion for the quarter. During the same quarter last year, the business posted $2.13 earnings per share. The firm’s revenue for the quarter was up 116.5% compared to the same quarter last year. Equities research analysts forecast that Avago Technologies Ltd. will post $10.95 earnings per share for the current fiscal year.
In related news, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Patricia H. Mccall sold 8,000 shares of the firm’s 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 disclosure for this sale can be found here.
A number of hedge funds recently bought and sold shares of AVGO. Alta Park Capital LP bought a new stake in Avago Technologies during the fourth quarter valued at approximately $1,161,000. Calvert Investment Management Inc. acquired a new stake in shares of Avago Technologies during the fourth quarter valued at approximately $1,375,000. Andra AP fonden raised its stake in shares of Avago Technologies by 10.5% in the fourth quarter. Andra AP fonden now owns 14,700 shares of the semiconductor manufacturer’s stock valued at $2,134,000 after buying an additional 1,400 shares during the last quarter. Utah Retirement Systems raised 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. Finally, American International Group Inc. raised its stake in shares of Avago Technologies by 3.6% in the fourth quarter. American International Group Inc. now owns 122,300 shares of the semiconductor manufacturer’s stock valued at $17,751,000 after buying an additional 4,211 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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