Avago Technologies (NASDAQ:AVGO) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Wednesday, Analyst Ratings.Net reports. The firm currently has a $48.10 price target on the stock. Zacks‘ price target would indicate a potential upside of 6.82% from the stock’s previous close.
Shares of Avago Technologies (NASDAQ:AVGO) traded up 0.59% during mid-day trading on Wednesday, hitting $45.295. 827,986 shares of the company’s stock traded hands. Avago Technologies has a 1-year low of $30.50 and a 1-year high of $47.21. The stock’s 50-day moving average is $43.78 and its 200-day moving average is $38.38. The company has a market cap of $11.210 billion and a P/E ratio of 20.94.
Avago Technologies (NASDAQ:AVGO) last posted its quarterly earnings results on Tuesday, August 27th. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.13. The company had revenue of $644.00 million for the quarter, compared to the consensus estimate of $622.78 million. During the same quarter in the prior year, the company posted $0.72 earnings per share. The company’s quarterly revenue was up 6.3% on a year-over-year basis. On average, analysts predict that Avago Technologies will post $2.82 earnings per share for the current fiscal year.
A number of other analysts have also recently weighed in on AVGO. Analysts at Goldman Sachs Group Inc. upgraded shares of Avago Technologies from a “buy” rating to a “conviction-buy” rating in a research note to investors on Friday, October 18th. They now have a $54.00 price target on the stock, up previously from $48.00. Separately, analysts at Charter Equity downgraded shares of Avago Technologies from a “strong-buy” rating to a “buy” rating in a research note to investors on Thursday, October 3rd. Finally, analysts at UBS AG reiterated a “buy” rating on shares of Avago Technologies in a research note to investors on Monday, September 23rd. They now have a $44.00 price target on the stock. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $46.38.
Avago Technologies Limited (NASDAQ:AVGO) 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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