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Avago Technologies (NASDAQ:AVGO)‘s stock had its “neutral” rating reaffirmed by Zacks in a research note issued on Thursday. They currently have a $90.00 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 5.40% from the company’s current price.

Zacks’ analyst wrote, “Avago reported strong third-quarter fiscal 2014 results with adjusted earnings well exceeding the Zacks Consensus Estimate. Avago is one of the leading players in the analog semiconductor market with a wide array of products and a well-diversified customer base. Avago further expects to strengthen its position through organic growth across the industry verticals and increased market penetration buoyed by the LSI acquisition. In addition to cost synergies from a combined resource pool, the acquisition has improved operating margin and has created greater scale to further drive innovation. However, operating risks regarding high R&D costs for technology-driven products could weigh on the margins moving forward. We maintain our Neutral recommendation on Avago as we anticipate the stock to perform in line with the broader market. “

Shares of Avago Technologies (NASDAQ:AVGO) traded up 1.50% during mid-day trading on Thursday, hitting $86.67. 1,272,241 shares of the company’s stock traded hands. Avago Technologies has a 52 week low of $38.23 and a 52 week high of $86.19. The stock has a 50-day moving average of $73.97 and a 200-day moving average of $68.29. The company has a market cap of $21.841 billion and a P/E ratio of 74.45.

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. Analysts expect that Avago Technologies will post $4.65 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at Davidson raised their price target on shares of Avago Technologies from $75.00 to $84.00 in a research note on Tuesday. Separately, 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, August 29th. Finally, 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, August 29th. Three research 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 company. The company presently has an average rating of “Buy” and a consensus price target of $87.50.

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.

To get a free copy of the research report on Avago Technologies (AVGO), click here. For more information about research offerings from Zacks Investment Research, visit

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