There has been some selling insider activity on Broadcom Limited (NASDAQ:AVGO) recently. Bryan Ingram, Sr VP sold $7,613,400 worth of shares at an average price of $253.78 on June 8th. That brings Ingram’s holdings to $19,711,346 as recorded in a recent Form 4 SEC filing. Sr VP Charlie B. Kawwas sold 5,222 shares at an average price of $254.15 on Thu the 8th. Kawwas now owns $16,138,779 of stock as reported to the SEC.
Principal Accounting Officer Kirsten M. Spears let go of 1,306 shares at an average price of $254.15 on Thu the 8th. That brings the Principal Accounting Officer’s holdings to $6,169,237 per an SEC filing yesterday.
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 a few other firms who have also updated their positions. Piedmont Investment Advisors LLC reduced its holdings by selling 55,588 shares a decrease of 25.6%. Piedmont Investment Advisors LLC now holds 161,260 shares worth $35,309,000. The total value of its holdings decreased 7.9%. S. R. Schill & Associates cut its ownership by shedding 70 shares a decrease of 4.6% in the quarter. S. R. Schill & Associates controls 1,444 shares valued at $316,000. The value of the position overall is up by 17.9%.
Mackenzie Financial Corp trimmed its investment by shedding 16,285 shares a decrease of 6.2% from 12/31/2016 to 03/31/2017. Mackenzie Financial Corp owns 248,160 shares with a value of $54,337,000. The value of the position overall is up by 16.2%. Proficio Capital Partners LLC augmented its position by buying 323 shares an increase of 50.8% as of 03/31/2017. Proficio Capital Partners LLC claims 959 shares valued at $230,000. The value of the position overall is up by 105.4%.
Loop Capital issued its first research report on the stock by announcing an initial rating of “Buy”. On November 3 Pacific Crest left the stock rating at “Overweight” and raised the price target from $180.00 to $215.00.
On October 6 analysts at initiated coverage on the stock with a rating of “Market Perform”. Equity analyst Wells Fargo released its first research report on the stock setting a rating of “Market Perform”.
On October 4, 2016 Bernstein began coverage giving it an initial rating of “Outperform” and establishing a price target of $215.00. Equity analyst Susquehanna began coverage of the stock with an initial rating of “Positive”.
In the market the company is trading down since yesterday’s close of $254.95. The company announced a dividend for shareholders that will be paid on Fri Jun 30, 2017. The dividend payment will be $1.020 per share for the quarter or $4.08 annualized. This dividend amount will represent a yeild of $1.61. The ex-dividend date will be Thursday March 16th, 2017.
It is currently trading at $243.34 which is marginally over the 50 day moving average of $233.78 and marginally over the 200 day moving average of $207.71. The 50 day moving average moved up $9.56 whereas the 200 day moving average was up $35.62 or +17.15%.
In the latest earnings report the EPS was $-4.73 and is expected to be $15.70 for the current year with 401,362,000 shares presently outstanding. Analysts expect next quarter’s EPS will be $4.40 and the next full year EPS is anticipated to be $17.07.
Short traders are feeling a little more bearish on the company recently as inferred by the motion in short interest. The firm had a rise in short interest of 5.86% as of the latest report on April 28, 2017. Short interest grew from 3,385,012 to 3,583,206 over that period. Days to cover decreased -0.7 to 1.7 and the percentage of shorted shares is 0.01% as of April 28.