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Avago Technologies Makes a Move: Down 1.3%

Published on Wed, 03/27/2013 - 12:27
By Mallory Stone

Avago Technologies (NASDAQ:AVGO), a company whose shares are moving quickly, is trading 1.3% lower to $35.34. The S&P is trading lower by 0.3% to 1,559 and the Dow is trading 0.3% lower to 14,513.

Avago Technologies (NASDAQ:AVGO) has potential upside of 16.6% based on a current price of $35.34 and analysts' consensus price target of $41.20. The stock should find initial support at its 50-day moving average (MA) of $34.91 and further support at its 200-day MA of $34.48.

Avago Technologies Ltd. manufactures semiconductor products such as optoelectronics, radio-frequency and microwave components, and application-specific integrated circuits. The Company's products are used in mobile phones, consumer electronics, enterprise and telecom networking gear, optical mice, automotive electronics, and military and aerospace systems.

Over the past year, Avago Technologies has traded in a range of $29.70 to $39.22 and is now at $35.34, 19% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.2%.

By Mallory Stone
mstone@fnno.com

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