Morgan Stanley began coverage on shares of Avago Technologies General IP (Singapore) Pte. (NASDAQ:AVGO) in a research note published on Monday morning, MarketBeat reports. The firm issued an overweight rating and a $305.00 target price on the semiconductor manufacturer’s stock.

Several other research firms also recently commented on AVGO. Zacks Investment Research upgraded Avago Technologies General IP (Singapore) Pte. from a sell rating to a hold rating and set a $316.00 price objective for the company in a report on Monday, November 27th. Vetr downgraded Avago Technologies General IP (Singapore) Pte. from a buy rating to a hold rating and set a $290.34 price objective for the company. in a report on Monday, November 27th. B. Riley reiterated a buy rating and set a $315.00 price target on shares of Avago Technologies General IP (Singapore) Pte. in a report on Monday, November 20th. BMO Capital Markets began coverage on Avago Technologies General IP (Singapore) Pte. in a report on Monday, November 20th. They set an outperform rating and a $330.00 price target for the company. Finally, Royal Bank of Canada upped their price target on Avago Technologies General IP (Singapore) Pte. from $300.00 to $315.00 and gave the stock a top pick rating in a report on Monday, November 20th. Five research analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $310.36.

How to Become a New Pot Stock Millionaire

Shares of Avago Technologies General IP (Singapore) Pte. stock opened at $246.00 on Monday. The company has a market capitalization of $100,613.70, a P/E ratio of 13.44, a PEG ratio of 1.07 and a beta of 0.88. Avago Technologies General IP has a 1-year low of $208.44 and a 1-year high of $285.68. The company has a current ratio of 5.70, a quick ratio of 5.04 and a debt-to-equity ratio of 0.60.

Avago Technologies General IP (Singapore) Pte. (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 15th. The semiconductor manufacturer reported $5.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.41 by $0.71. The firm had revenue of $5.33 billion during the quarter, compared to the consensus estimate of $5.32 billion. Avago Technologies General IP (Singapore) Pte. had a return on equity of 29.50% and a net margin of 41.37%. The company’s quarterly revenue was up 28.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.63 earnings per share. sell-side analysts expect that Avago Technologies General IP will post 17.32 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 22nd will be given a dividend of $1.75 per share. This represents a $7.00 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Wednesday, March 21st. This is a boost from Avago Technologies General IP (Singapore) Pte.’s previous quarterly dividend of $0.40. Avago Technologies General IP (Singapore) Pte.’s dividend payout ratio is currently 38.23%.

In other news, insider Hock E. Tan sold 20,000 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $265.21, for a total transaction of $5,304,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Charlie B. Kawwas sold 2,949 shares of the company’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $256.86, for a total value of $757,480.14. The disclosure for this sale can be found here. Insiders have sold a total of 93,675 shares of company stock worth $24,127,129 in the last ninety days. Insiders own 3.30% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of AVGO. SeaCrest Wealth Management LLC bought a new stake in shares of Avago Technologies General IP (Singapore) Pte. during the 4th quarter valued at $124,000. We Are One Seven LLC bought a new stake in shares of Avago Technologies General IP (Singapore) Pte. during the 4th quarter valued at $142,000. FNY Partners Fund LP bought a new stake in shares of Avago Technologies General IP (Singapore) Pte. during the 4th quarter valued at $154,000. Independence Bank of Kentucky bought a new stake in shares of Avago Technologies General IP (Singapore) Pte. during the 4th quarter valued at $188,000. Finally, Premia Global Advisors LLC bought a new stake in shares of Avago Technologies General IP (Singapore) Pte. during the 4th quarter valued at $198,000. 89.45% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Avago Technologies General IP (Singapore) Pte. (AVGO) Research Coverage Started at Morgan Stanley” was first published by Watch List News and is the sole property of of Watch List News. If you are reading this piece on another website, it was illegally stolen and reposted in violation of US & international copyright & trademark laws. The correct version of this piece can be read at https://www.watchlistnews.com/avago-technologies-general-ip-singapore-pte-avgo-research-coverage-started-at-morgan-stanley/1954977.html.

About Avago Technologies General IP (Singapore) Pte.

Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

Analyst Recommendations for Avago Technologies General IP (Singapore) Pte. (NASDAQ:AVGO)

Receive News & Ratings for Avago Technologies General IP (Singapore) Pte. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Avago Technologies General IP (Singapore) Pte. and related companies with MarketBeat.com's FREE daily email newsletter.