There has been some selling insider activity on Broadcom Limited (NASDAQ:AVGO) recently. Bryan Ingram, Sr VP reported the sale of 30,000 shares of AVGO stock. The shares were purchased at an average price of $253.78. Ingram now owns $19,711,346 of the stock per the Form 4 SEC filing. Charlie B. Kawwas, Sr VP disclosed the sale of 5,222 shares of (AVGO). The shares were sold on June 8th for an average price of $254.15. The Sr VP now owns $16,138,779 of the stock according to the SEC filing.
Principal Accounting Officer Kirsten M. Spears disclosed the sale of 1,306 shares. The shares were purchased at an average price of $254.15. The Principal Accounting Officer now owns $6,169,237 of the stock per the Form 4 SEC filing.
Broadcom Limited, launched on March 3, 2015, is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage and Industrial & Other. It offers a range of products that are used in end-products, such as enterprise and data center networking, home connectivity, set-top boxes (STBs), broadband access, telecommunication equipment, smartphones, data center servers and storage systems, factory automation, power generation and alternative energy systems, and electronic displays. Its product portfolio ranges from discrete devices to complex sub-systems that include multiple device types, and also includes firmware for interfacing between analog and digital systems. Its products include mechanical hardware that interfaces with optoelectronic or capacitive sensors..
Here are some other firms who have updated their holdings. Piedmont Investment Advisors LLC reduced its ownership by selling 55,588 shares a decrease of 25.6% from 12/31/2016 to 03/31/2017. Piedmont Investment Advisors LLC owns 161,260 shares valued at $35,309,000. The total value of its holdings decreased 7.9%. S. R. Schill & Associates divested its holdings by shedding 70 shares a decrease of 4.6% as of 03/31/2017. S. R. Schill & Associates now holds 1,444 shares with a value of $316,000. The value of the position overall is up by 17.9%.
Mackenzie Financial Corp downsized its investment by shedding 16,285 shares a decrease of 6.2%. Mackenzie Financial Corp controls 248,160 shares worth $54,337,000. The value of the position overall is up by 16.2%. Proficio Capital Partners LLC grew its position by buying 323 shares an increase of 50.8% in the quarter. Proficio Capital Partners LLC now controls 959 shares valued at $230,000. The total value of its holdings increased 105.4%.
On December 6, 2016 Loop Capital started covering the stock giving it an initial rating of “Buy”. On November 3 Pacific Crest kept the company rating at “Overweight” and moved up the price target from $180.00 to $215.00.
On October 6 analysts at issued its first research report on the stock with an initial rating of “Market Perform”. Equity analyst Wells Fargo began coverage of the stock with a rating of “Market Perform”.
Bernstein started covering AVGO by announcing an initial rating of “Outperform” and setting a price target of $215.00. Susquehanna initiated coverage on the stock setting a rating of “Positive”.
The company is down since yesterday’s close of $254.95. The company recently declared a dividend that will be paid on Friday the 30th of June 2017. The dividend will be $1.020 per share for the quarter or $4.08 annualized. The dividend yield will be $1.61. The ex-dividend date is set for Thursday the 16th of March 2017.
The stock last traded at $243.34 which is marginally higher than $233.78, the 50 day moving average and just above the 200 day moving average of $207.71. The 50 day moving average went up $9.56 or +4.09% whereas the 200 day moving average was up $35.62 or +17.15%.
In the last earnings report the EPS was $-4.73 and is estimated to be $15.70 for the current year with 401,362,000 shares currently outstanding. Next quarter’s EPS is forecasted at $4.40 with next year’s EPS anticipated to be $17.07.
Traders are feeling more bearish on the company if you take a look at the change in short interest. The firm recorded a rise in short interest from May 15, 2017 to April 28, 2017 of 5.86%. Short interest increased 198,194 over that period. Days to cover decreased -0.7 to 1.7 and the short interest percentage is 0.01% as of April 28.