Why Has FBR Capital Given Avago Tech (NASDAQ:AVGO) a $185 Price Target
In an interesting research report announced on 10 December, FBR Capital analyst has today commenced coverage coverage for Avago Tech (NASDAQ:AVGO) shares with a Outperform rating. The target has been set to $185.
From a total of 23 analysts covering Avago Technologies Limited (NASDAQ:AVGO) stock, 22 rate it a ”Buy”, 0 a “Sell”, and 1 a ”Hold”. This means that 96% 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 $171.48 with a 10.68% above today’s ($145.65) stock price. Avago Technologies Limited was the topic of 31 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Brean Capital maintained shares on December 3 with “Buy” rating. Topeka Capital Markets maintained shares with “Hold” rating and $153 target share price in a report from a December 3. Oppenheimer maintained AVGO stock in a recent report from December 3 with “Outperform” rating. Mizuho maintained the rating on December 3. Mizuho has a “Buy” rating and a $175 price target on shares. Finally, RBC Capital Markets maintained the stock with “Outperform” rating in a report issued on a December 3.
The stock decreased 1.44% or $2.13 during the last trading session, striking $145.65. Approximately shares of stock traded hands. Avago Technologies Ltd (NASDAQ:AVGO) has risen 18.92% since May 7, 2015 and is uptrending. It has outperformed by 20.85% 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 dropped, 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 insider purchases, and a total of 14 sales equating to a net activity of approximately $56.12 million . Maslowski Anthony E. sold 5,000 shares worth approximately $608,650. Tan Hock E sold 105,729 shares worth approximately $12.75 million. 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 $40.69 billion. The Firm focuses on III-V based products and complex digital and mixed signal complementary metal oxide semiconductor (CMOS) based devices. It has 38.72 P/E ratio. The Firm operates through four divisions: wireless communications, enterprise storage, wired infrastructure and industrial & other.