Avago Technologies Ltd (AVGO) was Reiterated by RBC Capital Mkts to “Top Pick” according to the research note released today. The brokerage firm has raised the Price Target to $ 230 from a previous price target of $225 . RBC Capital Mkts advised their Clients and Investors in a research report released on Feb 21, 2017.
Based on several research reports , Company shares were Reiterated by RBC Capital Mkts on Feb 8, 2017 to “Top Pick”, Firm has raised the Price Target to $ 225 from a previous price target of $200 .Company shares were Reiterated by Mizuho on Dec 9, 2016 to “Buy”, Firm has raised the Price Target to $ 210 from a previous price target of $200 .Company shares were Reiterated by Cowen on Dec 9, 2016 to “Outperform”, Firm has raised the Price Target to $ 210 from a previous price target of $205 .Company shares were Reiterated by MKM Partners on Dec 9, 2016 to “Buy”, Firm has raised the Price Target to $ 207 from a previous price target of $193 .Avago Technologies Ltd was Initiated by Loop Capital to “Buy” on Dec 6, 2016.
On the company’s financial health, Avago Technologies Ltd reported $3.47 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Dec 8, 2016. Analyst had a consensus of $3.38. The company had revenue of $4146.00 million for the quarter, compared to analysts expectations of $4123.49 million. The company’s revenue was up 123.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.51 EPS.
Several company insiders have filed Insider transactions , on Feb 8, 2017, Henry Samueli (Chief Technical Officer) sold 10,162 shares at $205.82 per share price. According to the SEC, on Jan 6, 2017, Lewis C Eggebrecht (director) sold 5,120 shares at $176.98 per share price. On Dec 27, 2016, Bryan Ingram (SVP & GM, Wireless Semicon Div) sold 12,000 shares at $181.43 per share price, according to the Form-4 filing with the securities and exchange commission.
Avago Technologies Ltd opened for trading at $209 and hit $210.41 on the upside on Friday, eventually ending the session at $210.41, with a gain of 1.07% or 2.23 points. The heightened volatility saw the trading volume jump to 30,94,524 shares. Company has a market cap of $83,949 M.
Avago Technologies Limited (Avago) is a designer developer and global supplier of a range of analog semiconductor devices. The Company focuses on III-V based products and complex digital and mixed signal complementary metal oxide semiconductor (CMOS) based devices. The Company operates through four segments: wireless communications enterprise storage wired infrastructure and industrial & other. The wireless communications segment supports the wireless industry with a range of radio frequency (RF) semiconductor devices. The enterprise storage segment consists of LSI Corporation’s (LSI’s) storage products and PLX Technology Inc.’s (PLX’s) peripheral component interconnect express (PCIe) switches and bridges. The wired infrastructure segment supplies transceivers that receive and transmit information along optical fibers in the storage and Ethernet networking markets. The industrial & other segment provides a range of products for the general industrial and automotive markets.