Avago Technologies Ltd (AVGO) was Initiated by Cowen to “Outperform” and the brokerage firm has set the Price Target at $190. Cowen advised their investors in a research report released on Apr 18, 2016.
Many Wall Street Analysts have commented on Avago Technologies Ltd. Company shares were Reiterated by RBC Capital Mkts on Mar 4, 2016 to “Top Pick”, Firm has raised the Price Target to $ 180 from a previous price target of $170 .Company shares were Reiterated by FBR Capital on Mar 4, 2016 to “Outperform”, Firm has raised the Price Target to $ 185 from a previous price target of $180 .Company shares were Reiterated by Craig Hallum on Mar 4, 2016 to “Buy”, Firm has raised the Price Target to $ 190 from a previous price target of $175 .
On the company’s financial health, Avago Technologies Ltd reported $2.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Mar 3, 2016. Analyst had a consensus of $2.30. The company had revenue of $1782.00 million for the quarter, compared to analysts expectations of $1758.22 million. The company’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.09 EPS.
Avago Technologies Ltd closed down -3.33 points or -2.10% at $155.49 with 27,68,497 shares getting traded on Friday. Post opening the session at $158.13, the shares hit an intraday low of $154.52 and an intraday high of $158.34 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Apr 13, 2016, Justine Lien (director) sold 578 shares at $157.43 per share price. According to the SEC, on Apr 12, 2016, Patricia H Mccall (VP & General Counsel) sold 3,000 shares at $156.00 per share price. On Apr 7, 2016, Charlie B Kawwas (SVP & Chief Sales Officer) sold 1,191 shares at $157.53 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.