Shares of Avago Technologies Limited (AVGO) Sees Large Outflow of Money

Avago Technologies Limited (AVGO) : Money flow in the Avago Technologies Limited (AVGO) stock was negative (6.83 million) on Thursday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $73.24 million, compared to $80.07 million on downticks. The total uptick to downtick ratio was 0.91, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($10.69 million), indicating selling on the strength. The transaction value during uptick in block trades was $2.66 million. Downtick transaction value in block trades amounted to $13.35 million, indicating persistent selling. The uptick to downtick ratio was 0.2. Avago Technologies Limited (AVGO) traded $3.38 higher at $160.79 gaining 2.15% over the previous days close.


The stock has recorded a 20-day Moving Average of 4.17% and the 50-Day Moving Average is 5.88%. Shares have rallied 18.94% from its 1 Year high price. On Jun 3, 2016, the shares registered one year high at $166.00 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $155.66 and the 200 Day Moving Average price is recorded at $144.45.

Avago Technologies Limited (NASDAQ:AVGO): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $159.55 and $158.86 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $161.06. The buying momentum continued till the end and the stock did not give up its gains. It closed at $160.79, notching a gain of 2.15% for the day. The total traded volume was 2,355,047 . The stock had closed at $157.41 on the previous day.

In an insider trading activity, The officer (SVP & Chief Sales Officer), of Broadcom Ltd, Kawwas Charlie B had unloaded 5,224 shares at $163.56 per share in a transaction on June 9, 2016. The total value of transaction was $854,437. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Avago Technologies Limited (Avago) is a designer, developer and global supplier of a range of analog semiconductor devices. The Company focuses on III-V based products and complex digital and mixed signal complementary metal oxide semiconductor (CMOS) based devices. The Company operates through four segments: wireless communications, enterprise storage, wired infrastructure and industrial & other. The wireless communications segment supports the wireless industry with a range of radio frequency (RF) semiconductor devices. The enterprise storage segment consists of LSI Corporations (LSIs) storage products and PLX Technology, Inc.s (PLXs) peripheral component interconnect express (PCIe) switches and bridges. The wired infrastructure segment supplies transceivers that receive and transmit information along optical fibers in the storage and Ethernet networking markets. The industrial & other segment provides a range of products for the general industrial and automotive markets.

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