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Avago Technologies Is Technically Strong

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Jun. 16 2015, Updated 10:06 a.m. ET

Avago’s moving averages and closing price

Avago Technologies (AVGO) closed at $142.86 on June 10, 2015. That’s higher than its 20-day, 50-day, and 100-day moving averages. The firm’s 20-day moving average price is $135.64. Its 50-day moving average price is $128.21, while its 100-day moving average price is $122.35.

So, the company is trading 5.32% above its 20-day average, 11.41% above its 50-day average, and 16.76% above its 100-day moving average.

Avago Technologies accounts for 0.86% of the Technology Select Sector SPDR ETF (XLK).

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Portfolio returns

In 2014, Avago Technologies generated portfolio returns of 93.19%. YTD (year-to-date), the firm’s returns are 42.02%. In contrast, its trailing 12 month and trailing one month returns are 98.90% and 15.84%, respectively.

Bollinger Bands

The figures for the upper Bollinger Band, mid Bollinger Band, and lower Bollinger Band for Avago Technologies stand at $151.37, $135.64, and $119.90, respectively. Currently, the stock price for Avago Technologies is $142.86. It’s closer to the upper Bollinger Band. It’s moving away from the lower Bollinger Band. This indicates that the stock has been overbought.

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Analysts’ recommendations

Out of 19 analysts covering the stock, 17 have a “buy” recommendation, one has a “sell” recommendation, and one has a “hold” recommendation on Avago Technologies. Analysts’ stock price target for Avago Technologies is $170.75 with a median target estimate of $172.50. Avago Technologies is trading at a discount of 20.74% with respect to its median target. It’s an attractive buy at the current levels.

Stocks are trading below the moving averages in the subsector

The stocks in the semiconductor industry that are trading below their moving averages include Micron Technology (MU), Microchip Technology (MCHP), and Texas Instruments (TXN).

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