MKM Partners Boosts Avago Technologies Price Target to $84.00 (AVGO)
Research analysts at MKM Partners raised their price objective on shares of Avago Technologies (NASDAQ:AVGO) from $75.00 to $84.00 in a report released on Tuesday. The firm currently has a “buy” rating on the stock. MKM Partners’ target price indicates a potential upside of 10.86% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks downgraded shares of Avago Technologies from an “outperform” rating to a “neutral” rating in a research note on Thursday, August 21st. They now have a $79.00 price target on the stock. Separately, analysts at Morgan Stanley raised their price target on shares of Avago Technologies to $82.00 in a research note on Tuesday, August 19th. Finally, analysts at Citigroup Inc. reiterated a “buy” rating on shares of Avago Technologies in a research note on Monday, July 14th. They now have a $90.00 price target on the stock, up previously from $46.00. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $76.11.
Avago Technologies (NASDAQ:AVGO) traded down 0.50% on Tuesday, hitting $75.39. 436,875 shares of the company’s stock traded hands. Avago Technologies has a 1-year low of $36.35 and a 1-year high of $77.21. The stock has a 50-day moving average of $72.89 and a 200-day moving average of $67.32. The company has a market cap of $18.977 billion and a P/E ratio of 31.86.
Avago Technologies (NASDAQ:AVGO) last released its 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. Analysts expect that Avago Technologies will post $3.99 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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