The Traderszone Network

Published in TZ Latest News 3 December, 2015 by The TZ Newswire Staff

Chip Designers Ride High On Avago’s Coattails

A better-than-expected earnings report from Avago Technologies (AVGO) gave a shot in the arm to chipmakers, which have been recovering from a summer sell-off. Avago said after the close Wednesday that earnings per share rose 26% from a year ago and sales rose 16%. Thursday morning, Mizuho Securities raised its price target from 165 to 175, and Topeka Capital Markets raised its price target to 153 from 130.

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