Avago Technologies PT Raised to $90.00 at Barclays (AVGO)
Equities research analysts at Barclays upped their price target on shares of Avago Technologies (NASDAQ:AVGO) to $90.00 in a research note issued to investors on Friday. Barclays’ target price suggests a potential upside of 17.86% from the stock’s previous close.
Shares of Avago Technologies (NASDAQ:AVGO) traded up 8.76% during mid-day trading on Friday, hitting $83.05. 4,325,144 shares of the company’s stock traded hands. Avago Technologies has a 1-year low of $38.04 and a 1-year 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 $20.905 billion and a P/E 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 (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.74 earnings per share. The company’s revenue for the quarter was up 99.8% on a year-over-year basis. Analysts expect that Avago Technologies will post $4.01 EPS for the current fiscal year.
A number of other firms have also recently commented on AVGO. Analysts at DA Davidson reiterated a “neutral” rating on shares of Avago Technologies in a research note on Friday. They now have a $84.00 price target on the stock, up previously from $75.00. Separately, analysts at Morgan Stanley reiterated a “positive” rating on shares of Avago Technologies in a research note on Friday. Finally, analysts at Pacific Crest raised their price target on shares of Avago Technologies to $90.00 in a research note on Friday. Four equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Avago Technologies presently has a consensus rating of “Buy” and an average price target of $84.19.
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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