Avago Technologies (NASDAQ:AVGO) was downgraded by analysts at Citigroup Inc. to a “neutral” rating in a research report issued to clients and investors on Thursday, AnalystRatingsNetwork reports.
A number of other analysts have also recently weighed in on AVGO. Analysts at Morgan Stanley reiterated a “buy” rating on shares of Avago Technologies in a research note to investors on Tuesday, July 16th. They now have a $45.00 price target on the stock. Separately, analysts at RBC Capital raised their price target on shares of Avago Technologies from $44.00 to $47.00 in a research note to investors on Tuesday, July 16th. They now have an “outperform” rating on the stock. Finally, analysts at Jefferies Group downgraded shares of Avago Technologies from a “buy” rating to a “hold” rating in a research note to investors on Thursday, July 11th. They now have a $42.00 price target on the stock.
Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $43.27.
Shares of Avago Technologies (NASDAQ: AVGO) opened at 36.89 on Thursday. Avago Technologies has a one year low of $30.50 and a one year high of $39.74. The stock’s 50-day moving average is currently $37.6. The company has a market cap of $9.109 billion and a P/E ratio of 17.00.
Avago Technologies (NASDAQ:AVGO) last posted its quarterly earnings results on Wednesday, May 29th. The company reported $0.61 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.52 by $0.09. The company had revenue of $562.00 million for the quarter, compared to the consensus estimate of $558.24 million. During the same quarter last year, the company posted $0.61 earnings per share. Avago Technologies’s revenue was down 2.6% compared to the same quarter last year. Analysts expect that Avago Technologies will post $2.43 EPS for the current fiscal year.
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.