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 up 0.1%. By the end of trading, Avago Technologies rose $3.09 (6.9%) to $47.59 on heavy volume. Throughout the day, 4,586,690 shares of Avago Technologies exchanged hands as compared to its average daily volume of 2,411,800 shares. The stock ranged in a price between $45.06-$47.68 after having opened the day at $45.53 as compared to the previous trading day's close of $44.50. Other companies within the Technology sector that increased today were: Methode Electronics ( MEI), up 43.1%, Plug Power ( PLUG), up 42.5%, Authentidate Holding Corporation ( ADAT), up 18.9% and WPCS International ( WPCS), up 15.3%.

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 $11.1 billion and is part of the electronics industry. The company has a P/E ratio of 20.8, above the S&P 500 P/E ratio of 17.7. Shares are up 41.5% year to date as of the close of trading on Wednesday. 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

On the negative front, OCZ Technology Group ( OCZ), down 22.2%, ReneSola ( SOL), down 21.0%, Pendrell ( PCO), down 7.3% and Trina Solar ( TSL), down 7.2% , were all laggards within the technology sector with Electronic Arts ( EA) 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).

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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