Today analysts at Drexel Hamilton reiterated Avago Technologies Limited’s (NASDAQ:AVGO) shares as “Buy” in a report released to investors. Deutsche Bank AG now owns 2,217,168 shares of the semiconductor manufacturer’s stock worth $321,815,000 after buying an additional 1,054,979 shares in the last quarter. Citigroup Inc. assumed coverage on shares of Avago Technologies in a research note on Tuesday. The brokerage presently has a “buy” rating on the semiconductor manufacturer’s stock. During the same quarter in the previous year, the company posted $2.24 EPS.
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The number of Avago Technologies Limited shares in issue is 395,518,000 which have a current share price of 172.96 bringing Avago Technologies Limited’s market capitalisation to 68.41B United States dollars. Vetr downgraded Avago Technologies from a “hold” rating to a “sell” rating and set a $171.91 target price on the stock.in a research report on Monday. The stock’s market cap is $70.04 billion. The latest period includes results of the combined company, while the year-earlier period relates exclusively to Avago.
Broadcom Limited is the successor to Avago Technologies Limited (“Avago”). Sales for the fourth-quarter ended August 28 rose to $35.7 billion from $35.0 billion a year earlier, the company said, but fell short of the $37.2 billion analysts had anticipated.
Broadcom’s (AVGO) price target was raised at Jefferies on Friday to $209 from $190 with a “buy” rating. On average, equities analysts expect that Avago Technologies will post $10.95 earnings per share for the current year.
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In other Avago Technologies news, SVP Charlie B. Kawwas sold 4,776 shares of the business’s stock in a transaction dated Wednesday, July 27th. The shares were sold at an average price of $163.56, for a total value of $854,437.44. On Jul 11, 2016, Patricia H Mccall (VP & General Counsel) sold 8,000 shares at $154.37 per share price, according to the Form-4 filing with the securities and exchange commission. The shares were sold at an average price of $154.37, for a total transaction of $1,234,960.00. Following Avago’s acquisition of Broadcom Corporation (“BRCM”) on February 1, 2016 (the “Acquisition”), Broadcom Limited became the ultimate parent company of Avago and BRCM. Three analysts have rated the stock with a hold rating, thirty-five have given a buy rating and two have issued a strong buy rating to the company. (NASDAQ:MOMO) announced that the special committee of the Company’s board of directors received a letter from Mr. Yan Tang (“Mr. Tang”), co-founder, chairman and chief executive officer of the Company, Matrix Partners China II Hong Kong Limited (“Matrix”), Sequoia Capital China Investment Management L.P. (“Sequoia”), Alibaba Investment Limited (“Alibaba”), Rich Moon Limited (“Yunfeng”) and Huatai Ruilian Fund Management Co., Ltd. (“Huatai Ruilian”, and together with Mr. Tang, Matrix, Sequoia, Alibaba and Yunfeng, the “Buyer Group”), stating that the Buyer Group would like to withdraw the non-binding going private proposal dated June 23, 2015, with immediate effect. The Company offers a range of products in end-markets, including wired infrastructure, wireless communications, enterprise storage, and industrial and others.
