Jefferies Maintains a 'Buy' on Avago Technologies (AVGO); Buying Opportunity
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Price: $35.09 +1.89%
Rating Summary:
15 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
15 Buy, 3 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade AVGO Now!
Jefferies maintains a 'Buy' on Avago Technologies (NASDAQ: AVGO) price target of $43.00.
Analyst, Mark Lipacis, said, "AVGO beat our JulQ revenue est by 1% but guided OctQ revs below consensus by 350bps due to Industrial inventory digestion and lumpy carrier orders. We are cautious about risk of a large acquisition, but still think the company’s wireless product cycle is among the best in semis (expected 20-30% QQ growth in OctQ) and view it as one of the best plays on the growth of Smart- and LTE- phones. We would use weakness as opportunity to buy."
Raises FY EPS estimate from $2.67 to $2.73.
For an analyst ratings summary and ratings history on Avago Technologies click here. For more ratings news on Avago Technologies click here.
Shares of Avago Technologies closed at $36.91 yesterday, with a 52 week range of $27.26-$39.22.
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Analyst, Mark Lipacis, said, "AVGO beat our JulQ revenue est by 1% but guided OctQ revs below consensus by 350bps due to Industrial inventory digestion and lumpy carrier orders. We are cautious about risk of a large acquisition, but still think the company’s wireless product cycle is among the best in semis (expected 20-30% QQ growth in OctQ) and view it as one of the best plays on the growth of Smart- and LTE- phones. We would use weakness as opportunity to buy."
Raises FY EPS estimate from $2.67 to $2.73.
For an analyst ratings summary and ratings history on Avago Technologies click here. For more ratings news on Avago Technologies click here.
Shares of Avago Technologies closed at $36.91 yesterday, with a 52 week range of $27.26-$39.22.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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