Avago Technologies Downgraded by JMP Securities to Market Perform (AVGO)
Avago Technologies (NASDAQ:AVGO) was downgraded by stock analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
Shares of Avago Technologies (NASDAQ:AVGO) traded up 0.24% on Thursday, hitting $59.08. The stock had a trading volume of 2,261,428 shares. Avago Technologies has a 52 week low of $30.57 and a 52 week high of $59.80. The stock’s 50-day moving average is $54.60 and its 200-day moving average is $45.4. The company has a market cap of $14.706 billion and a P/E ratio of 26.91.
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 $3.37 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on AVGO. Analysts at Nomura raised their price target on shares of Avago Technologies to $70.00 in a research note on Wednesday. Separately, 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. Finally, 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. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $55.87.
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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