Avago Technologies Ltd. (NASDAQ:AVGO)‘s stock had its “outperform” rating restated by RBC Capital Markets in a note issued to investors on Monday. They presently have a $190.00 price target on the semiconductor manufacturer’s stock. RBC Capital Markets’ price objective indicates a potential upside of 11.71% from the stock’s previous close.
AVGO has been the topic of a number of other research reports. Vetr raised shares of Avago Technologies from a “sell” rating to a “hold” rating and set a $180.18 price objective on the stock in a research report on Tuesday, August 30th. Sanford C. Bernstein assumed coverage on shares of Avago Technologies in a research report on Tuesday, October 4th. They set an “outperform” rating and a $215.00 target price on the stock. Citigroup Inc. assumed coverage on shares of Avago Technologies in a research report on Tuesday, August 30th. They set a “buy” rating and a $205.00 target price on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and set a $220.00 target price on shares of Avago Technologies in a research report on Friday, September 30th. Finally, Brean Capital reissued a “buy” rating and set a $200.00 target price (up previously from $190.00) on shares of Avago Technologies in a research report on Tuesday, August 30th. Three equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have 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 $196.50.
Shares of Avago Technologies (NASDAQ:AVGO) traded down 0.57% during mid-day trading on Monday, hitting $169.12. 560,909 shares of the stock traded hands. The firm has a 50 day moving average of $170.99 and a 200 day moving average of $160.52. Avago Technologies has a 12 month low of $114.25 and a 12 month high of $179.42. The stock’s market cap is $67.20 billion.
Avago Technologies (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $2.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.12. Avago Technologies had a negative net margin of 6.20% and a positive return on equity of 25.06%. The firm had revenue of $3.80 billion for the quarter. During the same period in the previous year, the firm earned $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 will post $11.23 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were issued a $0.51 dividend. This is a boost from Avago Technologies’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $2.04 annualized dividend and a yield of 1.20%. Avago Technologies’s dividend payout ratio (DPR) is -208.16%.
In related news, insider Henry Samueli sold 21,859 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $154.84, for a total value of $3,384,647.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Charlie B. Kawwas sold 4,776 shares of the firm’s stock in a transaction that occurred on Wednesday, July 27th. The shares were sold at an average price of $165.94, for a total transaction of $792,529.44. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Hollencrest Securities LLC boosted its stake in shares of 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 during the period. Guardian Life Insurance Co of America boosted its stake in shares of 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 during the period. Mitchell Mcleod Pugh & Williams Inc. purchased a new stake in shares of Avago Technologies during the second quarter valued at $318,000. Reynolds Capital Management LLC purchased a new stake in shares of Avago Technologies during the first quarter valued at $355,000. Finally, Park Avenue Institutional Advisers LLC boosted its stake in shares of Avago Technologies by 44.5% in the first quarter. Park Avenue Institutional Advisers LLC now owns 2,450 shares of the semiconductor manufacturer’s stock valued at $379,000 after buying an additional 754 shares during the period. 91.48% of the stock is currently owned by hedge funds and other institutional investors.
Avago Technologies Company Profile
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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