Avago Technologies stock hits all-time high at 265.57 USD

Avago Technologies (NASDAQ:AVGO) stock has reached a significant milestone by hitting an all-time high of 265.57 USD. According to InvestingPro data, the company maintains impressive gross profit margins of 77% and has achieved robust revenue growth of 34% over the last twelve months. This achievement underscores the company’s robust performance and market confidence over the past year. Notably, Avago Technologies has experienced a remarkable 67.25% increase in its stock price over the last 12 months, reflecting strong investor interest and positive sentiment surrounding the company’s growth prospects. This upward trajectory highlights Avago’s successful strategies and market positioning, making it a notable player in the technology sector. While current analysis from InvestingPro suggests the stock is trading above its Fair Value, the company maintains a "GREAT" overall financial health score. Investors seeking detailed insights can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

In other recent news, Broadcom reported quarterly earnings of $15.0 billion, meeting analysts’ expectations, with semiconductor sales at $8.4 billion and software revenue at $6.6 billion. The company’s artificial intelligence segment is projected to continue its growth, with anticipated AI sales for next year around $30 billion, exceeding current consensus estimates. Analysts from Bernstein SocGen raised Broadcom’s stock price target to $295, maintaining an Outperform rating, while TD Cowen increased their target to $290, citing AI growth as a key driver. Rosenblatt also raised their price target to $340, highlighting a 46% quarter-over-quarter increase in AI revenue and maintaining a Buy rating. Citi analysts adjusted their target to $285, acknowledging mixed results but emphasizing the expected 60% year-over-year growth in AI for fiscal 2025 and 2026. Broadcom’s management expressed confidence in sustaining growth, particularly in the AI segment, which accounted for 29% of its fiscal second-quarter sales. The company continues to integrate VMware’s products, recently announcing VMware Cloud Foundation 9.0 for modern private cloud environments. This new platform introduces several enhancements, including a unified interface and advanced memory tiering, aimed at improving operational efficiency.

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