Avago Technologies Downgraded to Buy at Charter Equity (AVGO)
Avago Technologies (NASDAQ:AVGO) was downgraded by investment analysts at Charter Equity from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Avago Technologies (NASDAQ:AVGO) traded down 0.14% during mid-day trading on Thursday, hitting $43.35. The stock had a trading volume of 286,701 shares. Avago Technologies has a 1-year low of $30.50 and a 1-year high of $43.63. The stock has a 50-day moving average of $39.32 and a 200-day moving average of $36.66. The company has a market cap of $10.729 billion and a P/E ratio of 20.19.
Avago Technologies (NASDAQ:AVGO) last released its earnings data 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. On average, analysts predict that Avago Technologies will post $2.82 earnings per share for the current fiscal year.
A number of other firms have also recently commented on AVGO. Analysts at UBS AG reiterated a “buy” rating on shares of Avago Technologies (NASDAQ:AVGO) in a research note to investors on Monday, September 23rd. They now have a $44.00 price target on the stock. Separately, 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, September 23rd. They now have a “buy” rating on the stock. Finally, 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. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $45.61.
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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