Avago Technologies Ltd. (NASDAQ:AVGO) SVP Bryan Ingram sold 31,488 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $169.27, for a total transaction of $5,329,973.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Avago Technologies Ltd. (NASDAQ:AVGO) opened at 170.73 on Tuesday. Avago Technologies Ltd. has a 12 month low of $111.53 and a 12 month high of $179.42. The stock’s market cap is $67.84 billion. The firm has a 50-day moving average price of $171.41 and a 200-day moving average price of $157.76.

Avago Technologies (NASDAQ:AVGO) last released its earnings results on Thursday, September 1st. The semiconductor manufacturer reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.12. Avago Technologies had a positive return on equity of 31.77% and a negative net margin of 6.20%. The business had revenue of $3.80 billion for the quarter. During the same quarter in the previous year, the business earned $2.24 EPS. The business’s revenue for the quarter was up 117.3% on a year-over-year basis. Equities research analysts expect that Avago Technologies Ltd. will post $11.23 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be paid a $0.51 dividend. This is a positive change from Avago Technologies’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $2.04 dividend on an annualized basis and a yield of 1.19%. Avago Technologies’s dividend payout ratio (DPR) is presently -208.16%.

A number of hedge funds have recently added to or reduced their stakes in AVGO. Telemus Capital LLC acquired a new stake in Avago Technologies during the first quarter worth $1,471,000. Apex Capital Management increased its position in Avago Technologies by 35.4% in the first quarter. Apex Capital Management now owns 12,366 shares of the semiconductor manufacturer’s stock worth $1,911,000 after buying an additional 3,232 shares during the last quarter. Factory Mutual Insurance Co. increased its position in Avago Technologies by 265.6% in the first quarter. Factory Mutual Insurance Co. now owns 365,606 shares of the semiconductor manufacturer’s stock worth $56,486,000 after buying an additional 265,606 shares during the last quarter. Investment Centers of America Inc. increased its position in Avago Technologies by 7.2% in the first quarter. Investment Centers of America Inc. now owns 3,264 shares of the semiconductor manufacturer’s stock worth $500,000 after buying an additional 218 shares during the last quarter. Finally, New Century Investment Management Inc. increased its position in Avago Technologies by 96.3% in the first quarter. New Century Investment Management Inc. now owns 13,924 shares of the semiconductor manufacturer’s stock worth $2,151,000 after buying an additional 6,831 shares during the last quarter. Institutional investors and hedge funds own 91.46% of the company’s stock.

Several equities analysts recently weighed in on AVGO shares. Mizuho increased their price target on shares of Avago Technologies from $190.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, August 29th. Vetr lowered shares of Avago Technologies from a “hold” rating to a “sell” rating and set a $171.91 price target for the company. in a research report on Monday, August 29th. Citigroup Inc. started coverage on shares of Avago Technologies in a research report on Tuesday, August 30th. They set a “buy” rating and a $205.00 price target for the company. Barclays PLC restated an “overweight” rating and set a $185.00 price target (down previously from $200.00) on shares of Avago Technologies in a research report on Tuesday, August 30th. Finally, DA Davidson restated a “buy” rating and set a $190.00 price target on shares of Avago Technologies in a research report on Tuesday, August 30th. Two analysts have rated the stock with a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $194.64.

About Avago Technologies

Broadcom Limited is a semiconductor company. The Company offers a range of products in end-markets, including wired infrastructure, wireless communications, enterprise storage, and industrial and others. The Company’s products are used in various applications, including data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, data center servers and storage, factory automation, power generation and alternative energy systems, and displays.

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