Avago Technologies Ltd. (NASDAQ:AVGO)‘s stock had its “buy” rating reissued by equities research analysts at Brean Capital in a research note issued on Wednesday.
A number of other brokerages have also recently issued reports on AVGO. B. Riley boosted their target price on Avago Technologies from $190.00 to $200.00 and gave the stock a “buy” rating in a report on Friday, June 3rd. Mizuho reiterated a “buy” rating and set a $175.00 target price on shares of Avago Technologies in a report on Wednesday, May 25th. Vetr cut Avago Technologies from a “buy” rating to a “hold” rating and set a $156.91 target price for the company. in a report on Tuesday, May 24th. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $180.00 target price (up previously from $170.00) on shares of Avago Technologies in a report on Thursday, June 2nd. Finally, Bank of America Corp. reiterated a “buy” rating and set a $215.00 target price (up previously from $210.00) on shares of Avago Technologies in a report on Tuesday, September 6th. Two investment analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $195.62.
Shares of Avago Technologies (NASDAQ:AVGO) opened at 168.84 on Wednesday. The firm’s market cap is $67.09 billion. The firm’s 50-day moving average is $171.88 and its 200-day moving average is $158.08. Avago Technologies has a 12-month low of $111.53 and a 12-month high of $179.42.
Avago Technologies (NASDAQ:AVGO) last posted its quarterly earnings results on Thursday, September 1st. The semiconductor manufacturer reported $2.89 EPS for the quarter, beating the consensus estimate of $2.77 by $0.12. The company earned $3.80 billion during the quarter. Avago Technologies had a positive return on equity of 25.06% and a negative net margin of 6.20%. The firm’s quarterly revenue was up 117.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.24 EPS. Equities analysts expect that Avago Technologies will post $11.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 19th will be issued a dividend of $0.51 per share. This is a positive change from Avago Technologies’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 1.21%. Avago Technologies’s dividend payout ratio is currently -208.16%.
In other Avago Technologies news, SVP Bryan Ingram sold 31,488 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $169.27, for a total value of $5,329,973.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Nisa Investment Advisors L.L.C. raised its stake in Avago Technologies by 83.2% in the first quarter. Nisa Investment Advisors L.L.C. now owns 92,228 shares of the semiconductor manufacturer’s stock worth $14,249,000 after buying an additional 41,873 shares during the period. Verde Servicos Internacionais S.A. raised its stake in Avago Technologies by 35.2% in the first quarter. Verde Servicos Internacionais S.A. now owns 86,273 shares of the semiconductor manufacturer’s stock worth $13,329,000 after buying an additional 22,473 shares during the period. Mn Services Vermogensbeheer B.V. acquired a new stake in Avago Technologies during the first quarter worth about $1,316,000. Aperio Group LLC raised its stake in Avago Technologies by 55.4% in the first quarter. Aperio Group LLC now owns 71,937 shares of the semiconductor manufacturer’s stock worth $11,114,000 after buying an additional 25,643 shares during the period. Finally, Commonwealth Equity Services Inc raised its stake in Avago Technologies by 117.3% in the first quarter. Commonwealth Equity Services Inc now owns 13,113 shares of the semiconductor manufacturer’s stock worth $2,026,000 after buying an additional 7,078 shares during the period. 91.45% 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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