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Avago Technologies (NASDAQ: AVGO) received a number of ratings updates from brokerages and research firms in the last week:

  • Avago Technologies had its price target raised by analysts at MKM Partners from $75.00 to $84.00. They now have a “buy” rating on the stock.
  • Avago Technologies had its price target raised by analysts at Barclays from $85.00 to $90.00.
  • Avago Technologies had its price target raised by analysts at Canaccord Genuity from $83.00 to $95.00. They now have a “buy” rating on the stock.
  • Avago Technologies had its price target raised by analysts at Oppenheimer from $85.00 to $100.00. They now have an “outperform” rating on the stock.
  • Avago Technologies had its price target raised by analysts at Morgan Stanley to $97.00. They now have a “positive” rating on the stock. They wrote, “We remain Overweight AVGO as the company’s above-average growth, strong FCF, diversified revenue stream (after LSI), and consistently high profitability is not reflected in the current multiple (P/E of 13x pro-forma 2015 EPS for the combined company). We have high conviction in management’s ability to execute on driving LSI’s OMs from 17% to 30% over the next few years. Notably, Avago doubled its OMs from 15% to 30% post the company’s LBO and is very effective at maximizing pricing for its IP, which we think will benefit the LSI business.”
  • Avago Technologies had its price target raised by analysts at RBC Capital from $87.00 to $99.00.
  • Avago Technologies had its price target raised by analysts at Deutsche Bank from $80.00 to $90.00. They now have a “buy” rating on the stock.
  • Avago Technologies had its price target raised by analysts at Jefferies Group from $76.00 to $84.00.
  • Avago Technologies had its price target raised by analysts at Pacific Crest from $85.00 to $90.00. They now have an “outperform” rating on the stock.
  • Avago Technologies had its price target raised by analysts at DA Davidson from $75.00 to $84.00. They now have a “neutral” rating on the stock. They wrote, “F3Q (Jul) results exceed expectations. Non-GAAP revenue and EPS of $1,394 million and $1.26 per share exceeded the Street mean of $1,335 million and $1.05 per share. Performance across Wireless, Wired Infrastructure and Enterprise Storage were in line with expectations while the Industrial segment grew above expectations. Margin and earnings upside were aided by the discontinuation of a couple of loss making groups from LSI.”
  • Avago Technologies had its price target raised by analysts at Davidson from $75.00 to $84.00.

Avago Technologies Ltd (NASDAQ:AVGO) opened at 85.39 on Thursday. Avago Technologies Ltd has a 52 week low of $38.23 and a 52 week high of $86.19. The stock’s 50-day moving average is $73.97 and its 200-day moving average is $68.29. The company has a market cap of $21.518 billion and a P/E ratio of 74.12.

Avago Technologies (NASDAQ:AVGO) last issued its quarterly earnings data 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 Ltd will post $4.65 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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