Avago Technologies Price Target Raised to $99.00 at RBC Capital (AVGO)
RBC Capital raised their target price on shares of Avago Technologies (NASDAQ:AVGO) from $87.00 to $99.00 in a research note issued on Friday. RBC Capital’s price objective indicates a potential upside of 20.60% from the stock’s previous close.
Shares of Avago Technologies (NASDAQ:AVGO) traded up 7.50% on Friday, hitting $82.09. 6,276,170 shares of the company’s stock traded hands. Avago Technologies has a 52 week low of $38.04 and a 52 week high of $77.21. The stock has a 50-day moving average of $73.06 and a 200-day moving average of $67.58. The company has a market cap of $20.663 billion and a price-to-earnings ratio of 32.11.
Avago Technologies (NASDAQ:AVGO) last posted its quarterly 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 EPS for the current fiscal year.
AVGO has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of Avago Technologies from $76.00 to $84.00 in a research note on Friday. Separately, analysts at Barclays raised their price target on shares of Avago Technologies from $85.00 to $90.00 in a research note on Friday. Finally, analysts at DA Davidson raised their price target on shares of Avago Technologies from $75.00 to $84.00 in a research note on Friday. They now have a “neutral” rating on the stock. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $87.06.
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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