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 $ 190 from a previous price target of $185 . RBC Capital Mkts advised their investors in a research report released on Aug 29, 2016.
Many Wall Street Analysts have commented on Avago Technologies Ltd. Robert W. Baird Initiated Avago Technologies Ltd on Aug 12, 2016 to “Outperform”, Price Target of the shares are set at $205.Avago Technologies Ltd was Initiated by Morgan Stanley to “Overweight” on Jun 27, 2016. 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 .
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 opened for trading at $176.72 and hit $177.47 on the upside on Tuesday, eventually ending the session at $177.34, with a gain of 0.80% or 1.41 points. The heightened volatility saw the trading volume jump to 19,74,091 shares. Company has a market cap of $70,141 M.
In a different news, on Aug 10, 2016, Henry Samueli (Chief Technical Officer) sold 21,859 shares at $154.84 per share price. According to the SEC, on Jul 28, 2016, Charlie B Kawwas (SVP & Chief Sales Officer) sold 4,776 shares at $165.94 per share price. On Jul 11, 2016, Patricia H Mccall (VP & General Counsel) sold 8,000 shares at $154.37 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.