Avago Technologies Ltd. (AVGO) Trading Down 2.6%
Shares of Avago Technologies Ltd. (NASDAQ:AVGO) were down 2.6% during mid-day trading on Friday . The stock traded as low as $168.80 and last traded at $172.55, with a volume of 5,873,382 shares trading hands. The stock had previously closed at $177.09.
A number of analysts recently weighed in on AVGO shares. Vetr raised shares of Avago Technologies from a “sell” rating to a “hold” rating and set a $180.18 target price on the stock in a report on Tuesday, August 30th. Citigroup Inc. started coverage on shares of Avago Technologies in a report on Tuesday, August 30th. They set a “buy” rating and a $205.00 target price on the stock. Brean Capital reaffirmed a “buy” rating and set a $200.00 target price (up previously from $190.00) on shares of Avago Technologies in a report on Tuesday, August 30th. Mizuho upped their target price on shares of Avago Technologies from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, August 29th. Finally, Cowen and Company upped their target price on shares of Avago Technologies from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 3rd. Three investment analysts have rated the stock with a hold rating, thirty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. Avago Technologies has a consensus rating of “Buy” and an average price target of $191.76.
The company’s market cap is $68.47 billion. The stock’s 50 day moving average is $169.39 and its 200-day moving average is $154.62.
Avago Technologies (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $2.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.77 by $0.12. The company had revenue of $3.80 billion for the quarter. During the same quarter in the prior year, the business posted $2.24 EPS. The firm’s quarterly revenue was up 117.3% on a year-over-year basis. On average, equities analysts expect that Avago Technologies Ltd. will post $11.21 EPS for the current year.
In related news, SVP Bryan Ingram sold 31,487 shares of the stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $157.04, for a total value of $4,944,718.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Patricia H. Mccall sold 8,000 shares of the stock in a transaction that occurred on Friday, July 8th. The stock was 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.
An institutional investor recently raised its position in Avago Technologies stock. American International Group Inc. raised its stake in Avago Technologies Ltd. (NASDAQ:AVGO) by 3.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,300 shares of the semiconductor manufacturer’s stock after buying an additional 4,211 shares during the period. American International Group Inc.’s holdings in Avago Technologies were worth $17,751,000 as of its most recent filing with the SEC.
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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