Wall Street Associates continued to hold its stake in shares of Avago Technologies Ltd. (NASDAQ:AVGO) during the fourth quarter, according to its most recent filing with the SEC. The firm owned 6,391 shares of the semiconductor manufacturer’s stock at the end of the fourth quarter. Wall Street Associates’ holdings in Avago Technologies were worth $1,130,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of AVGO. Perigon Wealth Management LLC acquired a new stake in shares of Avago Technologies during the second quarter valued at about $1,528,000. Tealwood Asset Management Inc. increased its stake in shares of Avago Technologies by 0.4% in the second quarter. Tealwood Asset Management Inc. now owns 16,500 shares of the semiconductor manufacturer’s stock valued at $2,564,000 after buying an additional 60 shares in the last quarter. Finally, Swedbank acquired a new stake in shares of Avago Technologies during the third quarter valued at about $100,658,000. 90.10% of the stock is currently owned by institutional investors.
Shares of Avago Technologies Ltd. (NASDAQ:AVGO) traded up 0.29% on Thursday, hitting $185.56. 4,571,341 shares of the company’s stock were exchanged. Avago Technologies Ltd. has a 12 month low of $114.25 and a 12 month high of $186.88. The firm’s market cap is $74.03 billion. The stock’s 50 day moving average is $176.77 and its 200 day moving average is $171.02.
Avago Technologies (NASDAQ:AVGO) last issued its quarterly earnings data on Thursday, December 8th. The semiconductor manufacturer reported $3.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.38 by $0.09. The firm earned $4.15 billion during the quarter. Avago Technologies had a negative net margin of 13.13% and a positive return on equity of 22.77%. During the same quarter in the prior year, the business earned $2.51 earnings per share. On average, equities analysts predict that Avago Technologies Ltd. will post $14.10 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 16th were issued a dividend of $1.02 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This is a boost from Avago Technologies’s previous quarterly dividend of $0.40. This represents a $4.08 annualized dividend and a yield of 2.20%. Avago Technologies’s payout ratio is -100.49%.
A number of research firms recently weighed in on AVGO. Brean Capital lifted their target price on Avago Technologies to $210.00 in a research report on Friday, December 9th. KeyCorp reissued a “buy” rating and set a $215.00 target price (up from $200.00) on shares of Avago Technologies in a research report on Thursday, November 3rd. Canaccord Genuity reissued a “buy” rating and set a $215.00 target price on shares of Avago Technologies in a research report on Friday, September 23rd. B. Riley reissued a “buy” rating and set a $225.00 target price on shares of Avago Technologies in a research report on Wednesday, November 2nd. Finally, MKM Partners reissued a “buy” rating and set a $193.00 target price (up from $188.00) on shares of Avago Technologies in a research report on Monday, November 7th. Three investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $201.00.
In related news, Director Lake (Offshore) Aiv Gp Silver sold 6,614,203 shares of the business’s stock in a transaction dated Wednesday, December 14th. The shares were sold at an average price of $177.06, for a total transaction of $1,171,110,783.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lewis C. Eggebrecht sold 5,120 shares of the business’s stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $176.98, for a total transaction of $906,137.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,052,066 shares of company stock worth $1,250,003,182. 6.20% of the stock is owned by corporate insiders.
Avago Technologies Company Profile
Broadcom Limited is a designer, developer and supplier of a range of analog and digital semiconductor connectivity solutions with a focus on analog III-V-based products, and digital and mixed signal complementary metal oxide semiconductor-based devices. The Company operates through four segments: wired infrastructure, wireless communications, enterprise storage, and industrial & other.
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