A swarm of Wall Street analysts raised their price targets for Avago Technologies’ stock, which surged to record highs following yet another better-than-expected profit report.

Shares of the maker of chips used in mobile phones AVGO, -1.69% , which lists Apple Inc. AAPL, -3.17% as a key customer, jumped nearly 8% in morning trade Friday, and were up as much as 11% at an all-time intraday high of $84.80 earlier in the session.

The stock has soared 56% so far this year, which puts it in the top 10 for year-to-date performers among S&P 500 components. In comparison, the S&P 500 has gained 8.1% in 2014.

No less than 10 sell-side analysts pushed up their price targets on Friday, according to data provided by FactSet.

Analyst Vijay Rakesh at Sterne Agee now has among the highest targets on the Street at $100, up from $93. “We believe strong [free cash flow], continued operating leverage into 2015, and strong product cycles position AVGO as one of the names to own,” Rakesh wrote in a note to clients.

J.P Morgan’s Harlan Sur said he raised his price target to $87 from $61. He said the company’s wireless communications business its expected to show significant sales growth in the current quarter “from a pickup in the Apple supply chain and upcoming iPhone 6 launch.”

RBC Capital Markets analyst Doug Freedman, who raised his price target to $99 from $87, saying that Avago’s “best-in-class” FBAR -- film bulk acoustic resonator -- filters, which help smartphones operate on different frequency bands, allow it to be “a supplier of choice” for Apple.

Avago , which has a market capitalization of $19.2 billion, said in its fiscal 2013 annual report that Apple accounted for more than 10% of total sales.

Late Thursday, the company reported fiscal third-quarter adjusted earnings that rose 70% from a year ago to $1.26 a share, well above the average analyst estimate compiled by FactSet of $1.05 a share. The company’s last 10 quarterly reports have beaten profit forecasts.

Meanwhile, sales rose 81% to $1.27 billion, but fell short of analyst forecasts of $1.33 billion.