Avago Reaches New 52-Week High (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) hit a new 52-week high Thursday as it is currently trading at $37.90, above its previous 52-week high of $37.88 with 4.1 million shares traded as of 11:01 a.m. ET. Average volume has been 2.5 million shares over the past 30 days.

Avago has a market cap of $8.48 billion and is part of the technology sector and electronics industry. Shares are up 8.8% year to date as of the close of trading on Wednesday.

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 15.3, below the S&P 500 P/E ratio of 17.7.

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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, expanding profit margins, good cash flow from operations and notable return on equity. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Avago Ratings Report.

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