Avago Technologies Ltd. Sets New 1-Year High at $55.67 (AVGO)
Avago Technologies (NASDAQ:AVGO) set a new 52-week high on Tuesday, American Banking & Market News reports. The company traded as high as $55.67 and last traded at $55.48, with a volume of 2,533,296 shares. The stock had previously closed at $52.64.
A number of research firms have recently commented on AVGO. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Avago Technologies in a research note to investors on Tuesday. They now have a $68.00 price target on the stock, up previously from $51.00. Separately, analysts at Jefferies Group reiterated a “hold” rating on shares of Avago Technologies in a research note to investors on Tuesday, December 17th. Finally, analysts at UBS AG raised their price target on shares of Avago Technologies from $44.00 to $60.00 in a research note to investors on Tuesday, December 17th. They now have a “buy” rating on the stock. Three equities research analysts have rated the stock with a hold rating, fifteen have given 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 $54.44.
Avago Technologies has a 52-week low of $30.57 and a 52-week high of $54.54. The stock’s 50-day moving average is $49.62 and its 200-day moving average is $42.7. The company has a market cap of $13.800 billion and a P/E ratio of 24.04.
Avago Technologies (NASDAQ:AVGO) last released its earnings data on Wednesday, December 4th. The company reported $0.89 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.82 by $0.07. The company had revenue of $733.90 million for the quarter, compared to the consensus estimate of $731.24 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. Analysts expect that Avago Technologies will post $3.38 EPS for the current fiscal year.
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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