Avago Technologies Limited (NASDAQ:AVGO) reported a rise of 2% or 91,401 shares in its short interest. The short figure came in at 1.2% of the total floats. The average daily volume of 3,513,997 shares suggests that the days to cover 4,578,948 short positions, as on June 15,2016, will be 1. On May 31,2016, the short interest was 4,487,547 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Avago Technologies Limited (NASDAQ:AVGO): The stock opened at $152.00 on Friday but the bulls could not build on the opening and the stock topped out at $154.87 for the day. The stock traded down to $148.40 during the day, due to lack of any buying support eventually closed down at $148.72 with a loss of -6.24% for the day. The stock had closed at $158.62 on the previous day. The total traded volume was 6,417,723 shares.
The company shares have rallied 12.66% 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 $152.59 and the 200 Day Moving Average price is recorded at $143.89.
Avago Technologies Limited (NASDAQ:AVGO) has tumbled 4.67% during the past week and has dropped 2.99% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 3.08%. Avago Technologies Limited (NASDAQ:AVGO) has underperformed the index by 0.05% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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.