There has been some selling insider activity on Broadcom Limited (NASDAQ:AVGO) recently. Sr VP Bryan Ingram sold 30,000 shares at an average price of $253.78 on Thu the 8th. The Sr VP now owns $19,711,346 of the stock as recorded in a recent 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.
Charlie B. Kawwas, Sr VP let go of $963,690 worth of shares at a price of $219.12 on Wed the 5th. That brings Kawwas’s holdings to $15,058,584 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 additional firms who have increased or decreased their stake in (AVGO). As of the end of the quarter Piedmont Investment Advisors LLC had disposed of a total of 55,588 shares trimming its holdings by 25.6%. The value of the total investment in Broadcom Limited went from $38,332,000 to $35,309,000 a change of 7.9% quarter to quarter. S. R. Schill & Associates trimmed its stake by shedding 70 shares a decrease of 4.6% as of 03/31/2017. S. R. Schill & Associates owns 1,444 shares valued at $316,000. The value of the position overall is up by 17.9%.
Mackenzie Financial Corp downsized its investment by selling 16,285 shares a decrease of 6.2% from 12/31/2016 to 03/31/2017. Mackenzie Financial Corp controls 248,160 shares worth $54,337,000. The total value of its holdings increased 16.2%. As of quarter end Proficio Capital Partners LLC had bought 323 shares growing its position 50.8%. The value of the investment in Broadcom Limited increased from $112,000 to $230,000 a change of $118,000 quarter over quarter.
Equity analyst Loop Capital initiated coverage setting a rating of “Buy”. On November 3 Pacific Crest held the company rating at “Overweight” and raised the price target from $180.00 to $215.00.
On October 6, 2016 added the stock to its research portfolio with a rating of “Market Perform”. Wells Fargo started covering AVGO giving it an initial rating of “Market Perform”.
On October 4 analysts at Bernstein started coverage by announcing an initial rating of “Outperform” and a price target of $215.00. On September 20, 2016 Susquehanna issued its first research report on the stock with an initial rating of “Positive”.
The company is so far trading down by -4.55% since yesterday’s close of $254.95. The company also announced 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 on an annualized basis. The dividend yield will be $1.61. The ex-dividend date will be Thursday March 16th, 2017.
The stock last traded at $243.34 which is slightly above $233.78, the 50 day moving average and which is just a bit higher than the 200 day moving average of $207.71. The 50 day moving average was up by +4.09% and the 200 day average went up by +17.15%.
As of 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 outstanding. Analysts expect next quarter’s EPS to be $4.40 and the next full year EPS is anticipated to be $17.07.
Investors are feeling more bearish on shares of Broadcom Limited recently considering the change in short interest. The company recorded a rise in short interest between May 15, 2017 and April 28, 2017 of 5.86%. Short interest increased from 3,385,012 to 3,583,206 over that timeframe. With short interest at 3,583,206 and short average daily volume at 2,099,854, days to cover is 1.7 and the percentage of shorted shares was 0.01% on April 28.