Will Today’s RBC Capital Mkts Upgrade Ultimately Help The Stock Price of Avago Tech (NASDAQ:AVGO)?

Share

Avago Tech (NASDAQ:AVGO) Stock Upgrade

RBC Capital Mkts raised shares of Avago Tech (NASDAQ:AVGO) stock to a “Top Pick” rating from their previous “Outperform”. The announcement of this change was revealed in analysts report earlier today. The firm presently has a respectable $170 price target on shares. –

From a total of 24 analysts covering Avago Technologies Limited (NASDAQ:AVGO) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $185 while the lowest target price is $153. The mean of all analyst targets is $172.46 with a 15.83% above today’s ($140.2) stock price. Avago Technologies Limited was the topic of 32 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. FBR Capital initiated shares on December 10 with “Outperform” rating. Topeka Capital Markets maintained shares with “Hold” rating and $153 target share price in a report from a December 3. Sterne Agee CRT maintained AVGO stock in a recent report from December 3 with “Buy” rating. RBC Capital Markets maintained the rating on December 3. RBC Capital Markets has a “Outperform” rating and a $155 price target on shares. Finally, Canaccord Genuity maintained the stock with “Buy” rating in a report issued on a December 3.

The stock decreased 0.20% or $0.28 on December 18, striking $140.2. Approximately shares of stock traded hands. Avago Technologies Ltd (NASDAQ:AVGO) has risen 7.70% since May 18, 2015 and is uptrending. It has outperformed by 13.50% the S&P500.

The overall sentiment of institutions has decreased to 1.18 in Q2 2015. Its down 0.02, from 1.2 in 2015Q2. The ratio turned negative, as 102 institutions have sold all the shares of Avago Technologies Ltd that they owned while 183 funds have taken shares off the table. 84 funds have purchased shares for the first time while 251 added to their positions. These institutions now hold 235.35 million shares or 8.95% more than the 216.02 million shares they owned in 2015Q2.

The Fund Silver Lake Group L.L.C. currently is holding shares equating to 26.73% of its total portfolio in Avago Technologies Ltd representing a total of 13.76 million shares. Another fund,Brenner West Capital Advisors Llc, is holding a total of 945,468 shares equating to 15.94% of their holdings. Additionally, Permian Investment Partners Lp has a 476,000 share stake in Avago Technologies Ltd which represents 14.13% of their total portfolio. The Fund, Adi Capital Management Llc, based out of New York, has also built up a stake in the stock, which represents a total of 13.51% of their total portfolio. Finally Crescent Park Management L.P., a fund which is based in the state of California reported a total holdings of 415,241 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 12, 2015, shareholders of Avago Technologies Ltd have witnessed 0 buys, and a total of 12 insider sales equating to a net activity of approximately $46.88 million . Maslowski Anthony E. sold 5,000 shares worth approximately $608,650. Tan Hock E sold 105,729 shares worth approximately $12.75M. Lien Justine sold 3,285 shares worth approximately $413,779. Mccall Patricia H sold 5,000 shares worth approximately $650,300. The company insider Kawwas Charlie B sold 10,000 shares worth $1.31 million.

Avago Technologies Limited is a designer, developer and global supplier of a range of analog semiconductor devices. The company has a market cap of $38.76 billion. The Firm focuses on III-V based products and complex digital and mixed signal complementary metal oxide semiconductor (CMOS) based devices. It has 37.27 P/E ratio. The Firm operates through four divisions: wireless communications, enterprise storage, wired infrastructure and industrial & other.

COMMENTS: