Barclays analyst Blayne Curtis reiterated an Overweight rating and boosted his price target on Avago Technologies (NASDAQ: AVGO) to $90.00 (from $85.00) following better results and guidedance significantly ahead, driven in large part by a large step-up in iPhone content but also fairly broad strength across its other end markets.

"The Wireless segment is expected up over 60% Q/Q, suggesting IP6 content of $5.50-6.00 (up 70-80%) but also continued strength in China LTE," Curtis noted. "The FBAR secular growth story continues to play out and is a main reason why the name is a top pick for us, but AVGO is also showing it can be a consolidator in semis with merger synergies on track and recent asset sales helping to pay down debt and enable further acquisitions, buybacks, and dividends."

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Shares of Avago Technologies closed at $76.36 yesterday.