Avago Technologies Receives “Buy” Rating from UBS AG (AVGO)
Avago Technologies (NASDAQ:AVGO)‘s stock had its “buy” rating reiterated by equities research analysts at UBS AG in a research note issued to investors on Monday, Analyst Ratings Network reports. They currently have a $44.00 price objective on the stock. UBS AG’s target price suggests a potential upside of 5.09% from the company’s current price.
A number of other analysts have also recently weighed in on AVGO. Analysts at Canaccord Genuity raised their price target on shares of Avago Technologies (NASDAQ:AVGO) from $45.00 to $53.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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.
Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $45.61.
Shares of Avago Technologies (NASDAQ:AVGO) traded up 0.60% on Monday, hitting $41.87. The stock had a trading volume of 2,971,146 shares. Avago Technologies has a 52-week low of $30.50 and a 52-week high of $42.58. The stock’s 50-day moving average is $38.10 and its 200-day moving average is $36.24. The company has a market cap of $10.363 billion and a price-to-earnings ratio of 19.36. Avago Technologies also was the recipient of some unusual options trading activity on Friday. Investors purchased 2,820 call options on the stock. This is an increase of approximately 234% compared to the typical daily volume of 845 call options.
Avago Technologies (NASDAQ:AVGO) last issued its quarterly earnings data on Tuesday, August 27th. The company reported $0.74 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.72 earnings per share. Avago Technologies’s revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that Avago Technologies will post $2.82 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 30th. Shareholders 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 2.20%. 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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