Avago Technologies Limited (AVGO) has been under a strong bear grip, hence the stock is down -1.02% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.35% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.88% in the last 1 week, and is up 3.31% 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 4.33% and the 50-Day Moving Average is 5.87%.
Avago Technologies Limited (NASDAQ:AVGO): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $161.11 and $159.66 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $161.57. The buying momentum continued till the end and the stock did not give up its gains. It closed at $161.16, notching a gain of 0.23% for the day. The total traded volume was 1,925,944 . The stock had closed at $160.79 on the previous day.
The company Insiders own 6.2% of Avago Technologies Limited shares according to the proxy statements. Institutional Investors own 91.41% of Avago Technologies Limited shares. In a related news, Mccall Patricia H, officer (VP & General Counsel) of Broadcom Ltd, unloaded 8,000 shares at an average price of $154.37 on July 8, 2016. The total amount of the transaction was worth $1,234,960, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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.