Davidson Increases Avago Technologies Price Target to $84.00 (AVGO)
Research analysts at Davidson hoisted their target price on shares of Avago Technologies (NASDAQ:AVGO) from $75.00 to $84.00 in a report released on Tuesday. Davidson’s price objective would indicate a potential upside of 2.33% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Avago Technologies from $87.00 to $99.00 in a research note on Friday. Separately, 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. Finally, analysts at Barclays raised their price target on shares of Avago Technologies from $85.00 to $90.00 in a research note on Friday. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $86.89.
Avago Technologies (NASDAQ:AVGO) traded up 2.30% during mid-day trading on Tuesday, hitting $83.98. 2,738,415 shares of the company’s stock traded hands. Avago Technologies has a one year low of $38.04 and a one year high of $84.80. The stock has a 50-day moving average of $73.31 and a 200-day moving average of $67.77. The company has a market cap of $21.163 billion and a P/E ratio of 71.57.
Avago Technologies (NASDAQ:AVGO) last issued its quarterly earnings data 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. On average, analysts predict that Avago Technologies will post $4.63 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.
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