Avago Technologies

(

AVGO

) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day down 2.1%. By the end of trading, Avago Technologies rose 18 cents (0.5%) to $33.77 on average volume. Throughout the day, 3.6 million shares of Avago Technologies exchanged hands as compared to its average daily volume of 2.9 million shares. The stock ranged in a price between $32.98-$34.19 after having opened the day at $33.02 as compared to the previous trading day's close of $33.59. Other companies within the Technology sector that increased today were:

Sify Technologies

(

SIFY

), up 62.8%,

Rediff.com India

(

REDF

), up 44%,

Kingtone Wirelessinfo Solution

(

KONE

), up 15.6%, and

DragonWave Inc

(

DRWI

), up 12.4%.

Avago Technologies Limited designs, develops, and supplies analog semiconductor devices with a focus on III-V based products. Avago Technologies has a market cap of $8.5 billion and is part of the

electronics

industry. The company has a P/E ratio of 15.1, below the average electronics industry P/E ratio of 15.2 and below the S&P 500 P/E ratio of 17.7. Shares are up 18.8% year to date as of the close of trading on Friday.

TheStreet Ratings rates Avago as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, expanding profit margins and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook.

On the negative front,

IDT Corporation B

(

IDT

), down 44.9%,

Yingli Green Energy Holding Company

(

YGE

), down 15.1%,

Microvision Inc

(

MVIS

), down 13.4%, and

Trina Solar

(

TSL

), down 13%, were all losers within the technology sector with

Mobile TeleSystems

(

MBT

) being today's technology sector loser.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the technology sector could consider

Technology Select Sector SPDR

(

XLK

) while those bearish on the technology sector could consider

ProShares Ultra Short Technology

(

REW

).

null