Avago Technologies Limited (AVGO) was a big mover last session, as the company saw its shares rise roughly 8% on the day. Shares moved up on reports that Avago is in advanced talks with Broadcom Corp. (BRCM) to acquire the latter. This led to solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 20.5% over the past one-month time frame.
This semiconductor industry stock witnessed one positive estimate revision over the last 30 days. The Zacks Consensus Estimate also moved up over the same time frame, suggesting that more solid trading could be ahead for Avago Technologies. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.
Avago Technologies has a Zacks Rank #2 (Buy), while its Earnings ESP is positive.
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