Mizuho reaffirmed their outperform rating on shares of Avago Technologies Ltd. (NASDAQ:AVGO) in a research report sent to investors on Wednesday. They currently have a $200.00 price target on the semiconductor manufacturer’s stock.
AVGO has been the subject of a number of other research reports. B. Riley increased their price target on shares of Avago Technologies from $190.00 to $200.00 and gave the company a buy rating in a report on Friday, June 3rd. Vetr downgraded shares of Avago Technologies from a buy rating to a hold rating and set a $156.91 price target for the company. in a report on Tuesday, May 24th. Oppenheimer Holdings Inc. reiterated a buy rating and issued a $180.00 price target (up previously from $170.00) on shares of Avago Technologies in a report on Thursday, June 2nd. Bank of America Corp. reiterated a buy rating and issued a $215.00 price target (up previously from $210.00) on shares of Avago Technologies in a report on Tuesday, September 6th. Finally, Royal Bank Of Canada increased their price target on shares of Avago Technologies from $180.00 to $185.00 and gave the company a top pick rating in a report on Friday, June 3rd. Two analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and three have issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $194.64.
Avago Technologies (NASDAQ:AVGO) opened at 171.24 on Wednesday. The stock’s market capitalization is $68.04 billion. Avago Technologies has a 52 week low of $111.53 and a 52 week high of $179.42. The firm’s 50-day moving average is $170.58 and its 200-day moving average is $156.76.
Avago Technologies (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 1st. The semiconductor manufacturer reported $2.89 EPS for the quarter, topping the Zacks’ consensus estimate of $2.77 by $0.12. The company earned $3.80 billion during the quarter. Avago Technologies had a negative net margin of 6.20% and a positive return on equity of 31.77%. The firm’s quarterly revenue was up 117.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.24 EPS. On average, equities research analysts predict that Avago Technologies will post $11.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 19th will be paid a dividend of $0.51 per share. This is a boost from Avago Technologies’s previous quarterly dividend of $0.50. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Thursday, September 15th. Avago Technologies’s payout ratio is currently -208.16%.
In related news, insider Henry Samueli sold 21,859 shares of Avago Technologies stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $154.84, for a total transaction of $3,384,647.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Patricia H. Mccall sold 2,500 shares of Avago Technologies stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $164.50, for a total transaction of $411,250.00. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.
Large investors have recently modified their holdings of the stock. Quantitative Systematic Strategies LLC bought a new stake in shares of Avago Technologies during the first quarter worth $1,770,000. Legacy Private Trust Co. acquired a new stake in shares of Avago Technologies during the first quarter valued at approximately $343,000. Cohen Klingenstein LLC acquired a new stake in shares of Avago Technologies during the first quarter valued at approximately $1,248,000. BLB&B Advisors LLC acquired a new stake in shares of Avago Technologies during the first quarter valued at approximately $496,000. Finally, Berkshire Asset Management LLC PA acquired a new stake in shares of Avago Technologies during the first quarter valued at approximately $478,000. Institutional investors and hedge funds own 91.46% of the company’s stock.
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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