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 1.62% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.51%, 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 1.45% in the last 1 week, and is up 5.03% 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 2.16% and the 50-Day Moving Average is 3.66%. Broadcom Limited is up 11.49% in the last 3-month period. Year-to-Date the stock performance stands at 12.32%.
Avago Technologies Limited (NASDAQ:AVGO): On Fridays trading session , Opening price of the stock was $163.93 with an intraday high of $164.65. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $161.1. However, the stock managed to close at $161.98, a loss of 1.37% for the day. On the previous day, the stock had closed at $164.23. The total traded volume of the day was 2,602,995 shares.
Also, In a research note released to the investors, Barclays maintains its rating on Avago Technologies Limited (NASDAQ:AVGO).The analysts at the brokerage house have a current rating of Overweight on the shares. In a recent information released to the investors, Barclays raises the new price target from $170 per share to $185 per share. The rating by the firm was issued on June 3, 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.