Avago Technologies Ltd (AVGO): Today's Featured Technology Winner

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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 0.1%. By the end of trading, Avago Technologies rose $0.74 (2.0%) to $37.48 on light volume. Throughout the day, 1,376,300 shares of Avago Technologies exchanged hands as compared to its average daily volume of 2,303,100 shares. The stock ranged in a price between $36.85-$37.72 after having opened the day at $36.95 as compared to the previous trading day's close of $36.74. Other companies within the Technology sector that increased today were: Cimatron ( CIMT), up 19.0%, Zhone Technologies ( ZHNE), up 18.8%, LRAD ( LRAD), up 12.9% and Remark Media ( MARK), up 10.6%.

Avago Technologies Limited engages in the design, development, and supply of analog semiconductor devices with a focus on III-V based products. Avago Technologies has a market cap of $9.0 billion and is part of the electronics industry. Shares are up 15.7% year to date as of the close of trading on Friday. Currently there are 10 analysts that rate Avago Technologies a buy, no analysts rate it a sell, and 2 rate it a hold.

TheStreet Ratings rates Avago Technologies as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins, reasonable valuation levels, increase in stock price during the past year and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front, PT Indosat TBK ( IIT), down 26.5%, Alvarion ( ALVR), down 20.8%, Glowpoint ( GLOW), down 11.7% and Ambarella ( AMBA), down 10.8% , were all laggards within the technology sector with America Movil S.A.B. de C.V ( AMX) being today's technology sector laggard.

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).

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