Avago Technologies Limited (AVGO) has risen sharply, recording gains of 7.36% in the past 4 weeks. However, the stock has corrected -0.92% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 0.57% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
Avago Technologies Limited (NASDAQ:AVGO): The stock opened at $159.59 on Friday but the bulls could not build on the opening and the stock topped out at $160.30 for the day. The stock traded down to $156.69 during the day, due to lack of any buying support eventually closed down at $159.67 with a loss of -0.46% for the day. The stock had closed at $160.41 on the previous day. The total traded volume was 1,966,387 shares.
The stock has recorded a 20-day Moving Average of 2.55% and the 50-Day Moving Average is 3.59%. Broadcom Limited is up 6.55% in the last 3-month period. Year-to-Date the stock performance stands at 10.72%.
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.