Avago Technologies Ltd Plans Quarterly Dividend of $0.29 (AVGO)
Avago Technologies (NASDAQ:AVGO) announced a quarterly dividend on Friday, June 6th, StockRatingsNetwork reports. Stockholders of record on Thursday, June 19th will be paid a dividend of 0.29 per share on Monday, June 30th. This represents a $1.16 annualized dividend and a dividend yield of 1.62%. The ex-dividend date is Tuesday, June 17th.
AVGO has been the subject of a number of recent research reports. Analysts at Zacks reiterated an “outperform” rating on shares of Avago Technologies in a research note on Friday, May 30th. They now have a $85.00 price target on the stock. On the ratings front, analysts at Raymond James reiterated an “outperform” rating on shares of Avago Technologies in a research note on Friday, May 30th. They now have a $83.00 price target on the stock, up previously from $65.00. Finally, analysts at Goldman Sachs raised their price target on shares of Avago Technologies to $78.00 in a research note on Friday, May 30th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Avago Technologies presently has a consensus rating of “Buy” and an average target price of $73.21.
Shares of Avago Technologies (NASDAQ:AVGO) traded down 0.33% during mid-day trading on Friday, hitting $71.63. 1,586,605 shares of the company’s stock traded hands. Avago Technologies has a 52 week low of $35.62 and a 52 week high of $72.08. The stock has a 50-day moving average of $67.07 and a 200-day moving average of $58.53. The company has a market cap of $17.979 billion and a P/E ratio of 30.22.
Avago Technologies (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.76 by $0.09. The company had revenue of $901.00 million for the quarter, compared to the consensus estimate of $679.59 million. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 24.7% on a year-over-year basis. On average, analysts predict that Avago Technologies will post $3.99 earnings per share for the current fiscal year.
In other Avago Technologies news, SVP Charlie B. Kawwas sold 2,047 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $71.33, for a total value of $146,012.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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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