Nomura Securities Maintains a 'Buy' on Avago Technologies (AVGO); Three Reasons To Cut Numbers
Tweet
Share
E-mailGet Alerts AVGO Hot Sheet
Price: $392.99 -5.94%
Rating Summary:
50 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
50 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Nomura Securities maintains a 'Buy' on Avago Technologies (NASDAQ: AVGO) price target of $40.00.
Analyst, Romit Shah, said, "We are lowering our estimates, due to changing seasonality in wireless, a shortage of Qualcomm’s (Nasdaq: QCOM) MSM8960 chipsets, and continued sluggishness in industrial. We believe Avago is facing some speed bumps in wireless. Although industrial is a bright spot for Linear, Avago’s industrial business remains mixed. Our estimates decrease from $635mn (+10%) and $0.68 to $600mn (+4%) and $0.62 in the July quarter and from $2.9bn and $3.20 to $2.8bn and $3.00 in CY12. Avago trades at 12x CY13E EPS and 3.4x EV/sales, versus a 3-year trough of 8x and 2.1x, respectively. F12E/F13E EPS from $2.76/$3.20 to $2.61/$3.00, respectively."
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 $35.71 yesterday.
Analyst, Romit Shah, said, "We are lowering our estimates, due to changing seasonality in wireless, a shortage of Qualcomm’s (Nasdaq: QCOM) MSM8960 chipsets, and continued sluggishness in industrial. We believe Avago is facing some speed bumps in wireless. Although industrial is a bright spot for Linear, Avago’s industrial business remains mixed. Our estimates decrease from $635mn (+10%) and $0.68 to $600mn (+4%) and $0.62 in the July quarter and from $2.9bn and $3.20 to $2.8bn and $3.00 in CY12. Avago trades at 12x CY13E EPS and 3.4x EV/sales, versus a 3-year trough of 8x and 2.1x, respectively. F12E/F13E EPS from $2.76/$3.20 to $2.61/$3.00, respectively."
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 $35.71 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Piper Sandler Reiterates Overweight Rating on Estee Lauder (EL), 'F4Q26 Preview'
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- New Street Research Upgrades Micron Technology (MU) to Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
NomuraSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
