安华高被资本市场点赞，这才是业绩表现的“三好生”

BMO资本市场本周一给出一份报告，坚持其对安华高科技185美元目标价的正面评价和过优评级，安华高科技在8月25号收盘后给出其2015财年第三季度财报。

BMO分析师对该硬件公司每股收益预期为2.12美元，营收实现6%的季度增长达到17.4亿美元。

BMO Capital Markets issued a report on Monday, maintaining its positive sentiments and an "Outperform" rating with price target of $185 on Avago Technologies Ltd (NASDAQ:AVGO) ahead of the chipmaker’s third quarter of fiscal year 2015 (3QFY15) results, which are scheduled for in the after-market trading on August 25.

BMO analyst, Ambrish Srivastava, expects the hardware company’s earnings-per-share (EPS) to stand at $2.12 and its revenue to grow 6% quarter-over-quarter (Q/Q) to $1.74 billion. Mr. Srivastava believes that Avago will guide $2.35 EPS and revenue of $1.86 billion, representing a 7% Q/Q growth. The analyst said that his estimates are in-line with the Street.

The consensus revenue projections are in-line with the investment firm’s estimates, but its EPS forecasts are $2.14 and $2.31 for 3QFY15 and 4QFY15, respectively. Avago guided revenue between $1.72-1.77 billion for the latest quarter, reflecting 4-7% Q/Q growth.

Mr. Srivastava expects Avago’s Wireless Communications segment (35% revenue contributor) to post high-single digit growth in 3QFY15, as he believes the chipmaker will ramp for Apple Inc.’s (NASDAQ:AAPL) next generation iPhone. Low Double digit growth Q/Q is forecast for 4QFY15 on iPhone ramp.

Wired Infrastructure segment (23% revenue contributor) growth is expected to decelerate by low-single digit, due to "the elimination of revenues that were previously directed at Emulex."

Industrial & Other arm is projected to decline 20% on lower IP revenue, and Enterprise Storage unit is anticipated to grow 25% on contribution from the Emulex acquisition.

BMO has modeled 3QFY15 and 4QFY15 gross margin of 60.0% and 60.5%, respectively.

Although, the investment firm is confident on its Wireless Communication estimates, it believes there is potential downside risk to Wired Infrastructure estimates, as other diversified chip companies have overall produced weaker results in that segment.

The analyst believes that Avago stock is trading at attractive price levels, with price-to-earnings (P/E) multiple of 12 times (based on BMO’s CY16 EPS estimates). Post-Broadcom Corporation (NASDAQ:BRCM) acquisition, P/E ratio is expected to be under 10 times (on CY16 EPS estimates) and under nine times (on CY17 EPS estimates).

According to data collected by Bloomberg, 19 out of 23 analysts advocate a Buy on Avago stock; three of them recommend a Hold, and only one is in favor of stock sell. The consensus price target for the stock is $164.25, reflecting 44.43% upside on current stock price. As of 8:25 AM EDT, Avago stock is trading up 4.60% at $115.00 in the pre-market trading.