Avago Technologies Price Target Increased to $90.00 by Analysts at Pacific Crest (AVGO)
Analysts at Pacific Crest lifted their price objective on shares of Avago Technologies (NASDAQ:AVGO) to $90.00 in a research report issued to clients and investors on Friday. Pacific Crest’s price target points to a potential upside of 17.86% from the company’s current price.
A number of other analysts have also recently weighed in on AVGO. Analysts at Credit Suisse reiterated a “buy” rating on shares of Avago Technologies in a research note on Friday. They now have a $75.00 price target on the stock, down previously from $105.00. Separately, analysts at Oppenheimer raised their price target on shares of Avago Technologies from $85.00 to $100.00 in a research note on Friday. They now have an “outperform” rating on the stock. Finally, analysts at Deutsche Bank raised their price target on shares of Avago Technologies from $80.00 to $90.00 in a research note on Friday. They now have a “buy” rating on the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Avago Technologies has a consensus rating of “Buy” and an average target price of $82.17.
Shares of Avago Technologies (NASDAQ:AVGO) opened at 76.36 on Friday. Avago Technologies has a 52 week low of $38.04 and a 52 week high of $77.21. The stock’s 50-day moving average is $73.06 and its 200-day moving average is $67.58. The company has a market cap of $19.221 billion and a price-to-earnings ratio of 32.11.
Avago Technologies (NASDAQ:AVGO) last announced its earnings results on Thursday, August 28th. The company reported $1.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.05 by $0.21. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company posted $0.74 earnings per share. Avago Technologies’s revenue was up 99.8% compared to the same quarter last year. On average, analysts predict that Avago Technologies will post $4.01 earnings per share 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.