Avago Technologies PT Raised to $53.00 at Canaccord Genuity (AVGO)
Research analysts at Canaccord Genuity upped their target price on shares of Avago Technologies (NASDAQ:AVGO) from $45.00 to $53.00 in a report released on Monday, Analyst Ratings Network reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s price objective suggests a potential upside of 27.34% from the stock’s previous close.
Shares of Avago Technologies (NASDAQ:AVGO) opened at 41.62 on Monday. Avago Technologies has a 52 week low of $30.50 and a 52 week high of $42.58. The stock has a 50-day moving average of $38.10 and a 200-day moving average of $36.24. The company has a market cap of $10.301 billion and a price-to-earnings ratio of 19.36. Avago Technologies also was the target of unusually large options trading on Friday. Stock investors purchased 2,820 call options on the stock. This is an increase of approximately 234% compared to the average daily volume of 845 call options.
Avago Technologies (NASDAQ:AVGO) last posted its quarterly earnings results on Tuesday, August 27th. The company reported $0.74 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.61 by $0.13. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $622.78 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. Analysts expect that Avago Technologies will post $2.82 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at JMP Securities upgraded shares of Avago Technologies (NASDAQ:AVGO) from a “market perform” rating to an “outperform” rating in a research note to investors on Tuesday, September 17th. They now have a $55.00 price target on the stock. Separately, analysts at Zacks upgraded shares of Avago Technologies (NASDAQ:AVGO) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, September 4th. They now have a $41.70 price target on the stock. Finally, analysts at Morgan Stanley reiterated a “buy” rating on shares of Avago Technologies (NASDAQ:AVGO) in a research note to investors on Wednesday, August 28th. They now have a $47.00 price target on the stock.
Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $45.48.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Stockholders of record on Thursday, September 19th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Tuesday, September 17th.
Avago Technologies Limited (NASDAQ:AVGO) is a designer, developer and global supplier of a range of analog semiconductor devices with a focus on III-V based products.
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