Avago Technologies Limited (AVGO) : Traders are bullish on Avago Technologies Limited (AVGO) as it has outperformed the S&P 500 by a wide margin of 5.92% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.33%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.38% in the last 1 week, and is up 7.02% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 4.75% and the 50-Day Moving Average is 7.94%. Avago Technologies Limited (NASDAQ:AVGO): stock turned positive on Friday. Though the stock opened at $172.13, the bulls momentum made the stock top out at $172.62 level for the day. The stock recorded a low of $171.375 and closed the trading day at $172.47, in the green by 0.22%. The total traded volume for the day was 1,652,995. The stock had closed at $172.09 in the previous days trading.
The company Insiders own 6.2% of Avago Technologies Limited shares according to the proxy statements. Institutional Investors own 90.96% of Avago Technologies Limited shares. Also, Baird initiates coverage on Avago Technologies Limited (NASDAQ:AVGO).The analysts at the brokerage house have a current rating of Outperform on the shares. The rating by the firm was issued on August 12, 2016.
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.