Avago Technologies Ltd (AVGO) reported quarterly earnings results on Thursday, Sep-1-2016. The company said it had a profit of $2.89 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.13. Analysts had a consensus of $2.76. The company posted revenue of $3802.00 million in the period, compared to analysts expectations of $3759.30 million. The company’s revenue was up 117.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.24 EPS.
Many Wall Street Analysts have commented on Avago Technologies Ltd. Citigroup Resumed Avago Technologies Ltd on Aug 30, 2016 to “Buy”, Price Target of the shares are set at $205.Company shares were Reiterated by RBC Capital Mkts on Aug 29, 2016 to “Top Pick”, Firm has raised the Price Target to $ 190 from a previous price target of $185 .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 opened for trading at $177.3 and hit $178.68 on the upside on Monday, eventually ending the session at $177.4, with a gain of 0.14% or 0.24 points. The heightened volatility saw the trading volume jump to 16,72,604 shares. Company has a market cap of $70,165 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.