Citi Comments on Avago Technologies Meeting

Yesterday Citi met with Avago Technologies' (NASDAQ: AVGO) CFO Doug Bettinger and VP of Business Development Jacob Sayer at San Jose headquarters.

“The meeting reaffirmed our confidence in Avago as our #1 Specialty Semiconductor pick based on: 1) accelerating 2H revenue growth in wireless (36% sales), 2) intact wireline (28% sales) and industrial (30% sales) trends, and 3) a high likelihood that private equity divestitures will hand-off to corporate stock buybacks by fiscal year end,” Citi writes.

Avago Technologies closed Wednesday at $33.41.