Avago Technologies Ltd (AVGO) was Initiated by Morgan Stanley to “Overweight”. Morgan Stanley advised their investors in a research report released on Jun 27, 2016.
Many Wall Street Analysts have commented on Avago Technologies Ltd. Company shares were Reiterated by Craig Hallum on Jun 3, 2016 to “Buy”, Firm has raised the Price Target to $ 200 from a previous price target of $190 .Company shares were Reiterated by Sterne Agee CRT on Jun 3, 2016 to “Buy”, Firm has raised the Price Target to $ 199 from a previous price target of $185 .Company shares were Reiterated by Canaccord Genuity on Jun 3, 2016 to “Buy”, Firm has raised the Price Target to $ 200 from a previous price target of $185 .
On the company’s financial health, Avago Technologies Ltd reported $2.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.15 according to the earnings call on Jun 2, 2016. Analyst had a consensus of $2.38. The company had revenue of $3562.00 million for the quarter, compared to analysts expectations of $3549.17 million. The company’s revenue was up 116.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.13 EPS.
Avago Technologies Ltd closed down -9.9 points or -6.24% at $148.72 with 64,17,723 shares getting traded on Friday. Post opening the session at $152, the shares hit an intraday low of $148.4 and an intraday high of $154.87 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Jun 10, 2016, Charlie B Kawwas (SVP & Chief Sales Officer) sold 5,224 shares at $163.56 per share price. According to the SEC, on Jun 10, 2016, Kirsten M. Spears (Principal Accounting Officer) sold 1,178 shares at $163.56 per share price. On Apr 19, 2016, Patricia H Mccall (VP & General Counsel) sold 916 shares at $155.19 per share price, according to the Form-4 filing with the securities and exchange commission.
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.