lsi – Scalper1

Avago Hits New High On Enthusiasm For LSI Acquisition

Avago Technologies (AVGO) stock hit a new high Tuesday for the second day in a row, as analysts applauded its $6.6 billion of chipmaker LSI (LSI). Avago stock was up 6.5%, near 53.50, in midafternoon trading in the stock market today. Analyst Doug Freedman at RBC Capital markets raised his price target on Avago to 64 from 53. Analyst Michael Walkley at Canaccord Genuity raised his price target to 65 from 54. “We believe the acquisition will

Avago Gets Revenue Diversification With LSI Purchase

Analog chip designer Avago Technologies (AVGO) announced Monday that it will acquire storage and networking chipmaker LSI (LSI) for $6.6 billion in cash, sending Avago stock to an all-time high. Avago will pay $11.15 a share for LSI, a 41% premium over LSI’s closing price on Friday. LSI stock was up 39%, near 11, in afternoon trading in the stock market today. Avago stock was up 9%, near 50, in afternoon trading Monday. The deal will add