Barclays Lowers Estimates on Avago Technologies (AVGO); Earnings Preview: Weakness Anticipated
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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
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Barclays maintains an 'Overweight' on Avago Technologies (NASDAQ: AVGO) price target of $43.00.
Analyst, Blayne Curtis, said, "We see October guidance slightly below, yet see this reset as well anticipated and more modest than its semi peers, as the iPhone 5 ramp provides a strong tailwind. We continue to see AVGO as a content gainer in the IP5 (~$3.00 including multiple 3G FBARs) and will look to the October guidance as the first potential confirmation of this higher content and, more interestingly, the extension of FBARs beyond Band 2 at Apple (Nasdaq: AAPL)."
Curtis sees Q2 revenues at $602 million, lowers Q3 revenue estimate from $660M to $632M and cuts Q3 EPS estimate from $0.74 to $0.69. FY12 EPS estimate lowered from $2.77 to $2.66 and FY13 from $3.03 to $2.87. FY12 revenues lowered from $2.52B to $2.47B and FY13 from $2.76B to $2.69B.
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 $37.15 yesterday.
Analyst, Blayne Curtis, said, "We see October guidance slightly below, yet see this reset as well anticipated and more modest than its semi peers, as the iPhone 5 ramp provides a strong tailwind. We continue to see AVGO as a content gainer in the IP5 (~$3.00 including multiple 3G FBARs) and will look to the October guidance as the first potential confirmation of this higher content and, more interestingly, the extension of FBARs beyond Band 2 at Apple (Nasdaq: AAPL)."
Curtis sees Q2 revenues at $602 million, lowers Q3 revenue estimate from $660M to $632M and cuts Q3 EPS estimate from $0.74 to $0.69. FY12 EPS estimate lowered from $2.77 to $2.66 and FY13 from $3.03 to $2.87. FY12 revenues lowered from $2.52B to $2.47B and FY13 from $2.76B to $2.69B.
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 $37.15 yesterday.
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