Avago Technologies Limited (NASDAQ:AVGO) has tumbled 3% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 6.32% in the last four weeks. The stocks have underperformed the S&P 500 by 1.83% during the past week but Avago Technologies Limited (NASDAQ:AVGO) it has outperformed the index in 4 weeks by 5.35%.
Avago Technologies Limited (NASDAQ:AVGO): The stock opened at $158.97 on Friday but the bulls could not build on the opening and the stock topped out at $159.75 for the day. The stock traded down to $154.93 during the day, due to lack of any buying support eventually closed down at $156.00 with a loss of -1.66% for the day. The stock had closed at $158.63 on the previous day. The total traded volume was 4,333,260 shares.
The company shares have rallied 8.88% 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 $151.00 and the 200 Day Moving Average price is recorded at $143.39.
On the companys insider trading activities, The Securities and Exchange Commission has divulged that Kawwas Charlie B, officer (SVP & Chief Sales Officer) of Broadcom Ltd, had unloaded 5,224 shares at an average price of $163.56 in a transaction dated on June 9, 2016. The total value of the transaction was worth $854,437.
Many analysts have stated their opinion on the company shares. Equity Analysts at the Brokerage Firm, Barclays, maintains their rating on the shares of Avago Technologies Limited (NASDAQ:AVGO). Barclays has a Overweight rating on the shares. As per the latest research report, the brokerage house raises the price target to $185 per share from a prior target of $170. The rating by the firm was issued on June 3, 2016. Currently the company Insiders own 6.2% of Avago Technologies Limited shares according to the proxy statements. Institutional Investors own 92.7% of Avago Technologies Limited shares.
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.