Avago Technologies Hits New 12-Month High at $58.07 (AVGO)
Avago Technologies (NASDAQ:AVGO) hit a new 52-week high during mid-day trading on Tuesday , Stock Ratings Network.com reports. The stock traded as high as $58.07 and last traded at $57.80, with a volume of 1,001,281 shares trading hands. The stock had previously closed at $56.31.
A number of analysts have recently weighed in on AVGO shares. Analysts at MKM Partners raised their price target on shares of Avago Technologies from $53.00 to $65.00 in a research note on Thursday, January 16th. They now have a “buy” rating on the stock. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Avago Technologies in a research note on Tuesday, January 14th. They now have a $68.00 price target on the stock, up previously from $51.00. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of Avago Technologies in a research note on Tuesday, December 17th. Three analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $55.19.
The stock has a 50-day moving average of $54.22 and a 200-day moving average of $45.1. The company has a market cap of $14.454 billion and a P/E ratio of 25.71.
Avago Technologies (NASDAQ:AVGO) last announced its earnings results on Wednesday, December 4th. The company reported $0.89 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.71 earnings per share. Avago Technologies’s revenue was up 19.4% compared to the same quarter last year. On average, analysts predict that Avago Technologies will post $3.37 earnings per share 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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