Avago Rises On Unusually High Volume (AVGO)

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

NEW YORK ( TheStreet) -- Avago Technologies (Nasdaq: AVGO) is trading at unusually high volume Monday with 4.6 million shares changing hands. It is currently at two times its average daily volume and trading up 69 cents (+2.2%) at $31.83 as of 12:31 p.m. ET.

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Avago has a market cap of $8.25 billion and is part of the technology sector and electronics industry. Shares are up 7.9% year to date as of the close of trading on Friday.

Avago Technologies Limited engages in the design, development, and supply of analog semiconductor devices with a focus on III-V based products. The company has a P/E ratio of 12.2, below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Avago as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, largely solid financial position with reasonable debt levels by most measures, 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. You can view the full Avago Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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