Avago Tech (AVGO) is Upgraded by RBC Capital Mkts to Top Pick, Raises Price Target to $170

Avago Tech (AVGO) is Upgraded by RBC Capital Mkts to Top Pick according to the research report released to the investors. The brokerage firm has raised the Price Target to $170 from a previous price target of $155 . Earlier the firm had a rating of Outperform on the company shares. The shares recommendation by the Brokerage Firm was released on Dec-22-2015.

Shares of Avago Technologies Limited (NASDAQ:AVGO) ended Thursday session in red amid volatile trading. The shares closed down 3.4 points or 2.36% at $140.48 with 2,437,428 shares getting traded. Post opening the session at $144.93, the shares hit an intraday low of $140.41 and an intraday high of $145.5 and the price vacillated in this range throughout the day. The company has a market cap of $38,683 million and the number of outstanding shares has been calculated to be 275,361,250 shares. The 52-week high of Avago Technologies Limited (NASDAQ:AVGO) is $150.5 and the 52-week low is $95.18.

During the last several months other analysts have commented on the company rating. Equity Analysts at the Brokerage Firm, Brean Capital, maintains their rating on the shares of Avago Technologies Limited (NASDAQ:AVGO). Brean Capital has a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $180 per share from a prior target of $170. The rating by the firm was issued on December 3, 2015.

As many as 22 brokerage firms have rated Avago Technologies Limited (NASDAQ:AVGO) at 1.39. Research Analysts at Zacks have ranked the company at 2, suggesting the traders with a rating of buy for the short term. 1 rated the company as strong sell. The stock garnered a place in the hold list of 1 stock Analysts. 3 analysts suggested buying the company. 17 analysts rated the company as a strong buy.

Avago Technologies Limited (NASDAQ:AVGO) shares are expected to touch $166.95 in the short term. This short term price target has been shared by 20 analysts. However, the standard deviation of short term price estimate has been valued at 20.03. The target price could hit $185 on the higher end and $95 on the lower end.

Avago Technologies Limited has dropped 4.36% in the last five trading days, however, the shares have posted positive gains of 15.45% in the last 4 weeks. Avago Technologies Limited is up 10.44% in the last 3-month period. Year-to-Date the stock performance stands at 41.34%.”

Avago Technologies Limited is a designer, developer and global supplier of a range of analog semiconductor devices with a focus on III-V based products. III-V refers to elements from the 3rd and 5th groups in the periodic table of chemical elements, and examples of these materials are gallium arsenide (GaAs), gallium nitride (GaN), and indium phosphide (InP). The Company serves three primary target markets: wireless communications, which supports the wireless industry with a range of radio frequency (RF) semiconductor devices; wired infrastructure, which supplies transceivers that receive and transmit information along optical fibers, and industrial and other, which provides a range of products for the general industrial and automotive markets.