Shares of Avago Technologies Ltd. (NASDAQ:AVGO) have been assigned a consensus rating of “Buy” from the forty analysts that are covering the stock. Two equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $197.80.
A number of equities analysts recently weighed in on AVGO shares. RBC Capital Markets reissued an “outperform” rating and set a $190.00 target price on shares of Avago Technologies in a research note on Tuesday. Canaccord Genuity reissued a “buy” rating and set a $215.00 target price on shares of Avago Technologies in a research note on Friday, September 23rd. Brean Capital reissued a “buy” rating on shares of Avago Technologies in a research note on Wednesday, September 21st. Susquehanna started coverage on shares of Avago Technologies in a research note on Tuesday, September 20th. They set a “positive” rating and a $200.00 target price for the company. Finally, Nomura lowered their target price on shares of Avago Technologies to $200.00 and set a “buy” rating for the company in a research note on Thursday, September 15th.
In other news, VP Patricia H. Mccall sold 2,500 shares of the company’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $164.50, for a total value of $411,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Henry Samueli sold 21,859 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $154.84, for a total transaction of $3,384,647.56. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. BlueMountain Capital Management LLC raised its stake in Avago Technologies by 9.0% in the first quarter. BlueMountain Capital Management LLC now owns 1,250,451 shares of the semiconductor manufacturer’s stock worth $193,195,000 after buying an additional 103,585 shares in the last quarter. Junto Capital Management LP purchased a new stake in Avago Technologies during the first quarter worth approximately $31,070,000. Adage Capital Partners GP L.L.C. raised its stake in Avago Technologies by 768.4% in the first quarter. Adage Capital Partners GP L.L.C. now owns 796,726 shares of the semiconductor manufacturer’s stock worth $123,094,000 after buying an additional 704,983 shares in the last quarter. Soroban Capital Partners LP raised its stake in Avago Technologies by 155.2% in the first quarter. Soroban Capital Partners LP now owns 2,574,257 shares of the semiconductor manufacturer’s stock worth $397,723,000 after buying an additional 1,565,357 shares in the last quarter. Finally, Origin Asset Management LLP raised its stake in Avago Technologies by 58.0% in the first quarter. Origin Asset Management LLP now owns 206,009 shares of the semiconductor manufacturer’s stock worth $31,828,000 after buying an additional 75,611 shares in the last quarter. 91.45% of the stock is owned by institutional investors.
Shares of Avago Technologies (NASDAQ:AVGO) traded up 0.07% during midday trading on Thursday, reaching $170.82. 1,461,731 shares of the company’s stock traded hands. The stock’s market cap is $67.87 billion. The stock has a 50 day moving average of $171.83 and a 200-day moving average of $158.91. Avago Technologies has a 12 month low of $111.53 and a 12 month high of $179.42.
Avago Technologies (NASDAQ:AVGO) last released its quarterly earnings results 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 firm earned $3.80 billion during the quarter. Avago Technologies had a negative net margin of 6.20% and a positive return on equity of 25.06%. Avago Technologies’s revenue was up 117.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.24 EPS. On average, equities research analysts forecast that Avago Technologies will post $11.23 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 19th will be paid a $0.51 dividend. This is a boost from Avago Technologies’s previous quarterly dividend of $0.50. The ex-dividend date is Thursday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.20%. Avago Technologies’s dividend payout ratio is -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.
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