Avago Technologies Sets New 1-Year High at $59.99 (AVGO)
Avago Technologies (NASDAQ:AVGO) reached a new 52-week high on Monday , AnalystRatings.NET reports. The stock traded as high as $59.99 and last traded at $59.63, with a volume of 1,417,917 shares trading hands. The stock had previously closed at $58.55.
A number of research firms have recently commented on AVGO. Analysts at Oppenheimer raised their price target on shares of Avago Technologies from $60.00 to $70.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Separately, analysts at DA Davidson downgraded shares of Avago Technologies from a “buy” rating to a “neutral” rating in a research note on Friday, February 14th. They now have a $64.00 price target on the stock, up previously from $60.00. Finally, analysts at JMP Securities downgraded shares of Avago Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $57.01.
The stock’s 50-day moving average is $55.5 and its 200-day moving average is $46.3. The company has a market cap of $14.828 billion and a P/E ratio of 26.74.
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. Analysts expect that Avago Technologies will post $3.33 EPS for the current fiscal year.
Avago Technologies Limited 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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