Avago Technologies (NASDAQ: AVGO)‘s stock had its “buy” rating restated by equities researchers at Deutsche Bank in a report issued on Wednesday. They currently have a $40.00 target price on the stock.
Shares of Avago Technologies traded up 2.69% during mid-day trading on Wednesday, hitting $34.02. Avago Technologies has a one year low of $29.70 and a one year high of $39.22. The stock’s 50-day moving average is currently $34.56. The company has a market cap of $8.360 billion and a P/E ratio of 14.72.
Avago Technologies last posted its quarterly earnings results on Tuesday, February 26th. The company reported $0.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.60 by $0.05. The company had revenue of $576.00 million for the quarter, compared to the consensus estimate of $576.09 million. During the same quarter last year, the company posted $0.62 earnings per share. Avago Technologies’s revenue was up 2.3% compared to the same quarter last year. Analysts expect that Avago Technologies will post $2.55 EPS for the current fiscal year.
A number of other firms have also recently commented on AVGO. Analysts at RBC Capital raised their price target on shares of Avago Technologies from $41.00 to $42.00 in a research note to investors on Wednesday. They now have an “outperform” rating on the stock. Separately, analysts at Zacks upgraded shares of Avago Technologies from an “underperform” rating to a “neutral” rating in a research note to investors on Wednesday, February 6th. They now have a $36.30 price target on the stock.
Sixteen investment analysts have rated the stock with a buy rating, one has assigned an overweight rating, and three have assigned a hold rating to the stock. The company has a consensus rating of “buy” and an average target price of $40.89.
Avago Technologies Limited (Avago) 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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