Broadcom Limited – Ordinary Sha (NASDAQ:AVGO).
Swedbank says it increased its investment in Broadcom Limited – Ordinary Sha shares by 46,339 shares in a 13F filing with the SEC. Its investment stood at $182,393,000 an increase of 13.1% as of quarter end.
Swedbank isn’t the only one who has changed their investment in AVGO. As of the end of the quarter Gateway Investment Advisers LLC had disposed of a total of 200 shares trimming its position 0.3%. The value of the company’s investment in Broadcom Limited – Ordinary Sha increased from $13,627,000 to $14,457,000 a change of 6.1% quarter to quarter. As of quarter end Pennsylvania Trust Co had bought 18,294 shares growing its stake by 48.8%. The value of the total investment in Broadcom Limited – Ordinary Sha went from $8,211,000 to $13,003,000 increasing 58.4% for the reporting period.
As of the end of the quarter Churchill Management Corp had acquired a total of 1,691 shares growing its holdings by 8.5%. The value of the investment in (AVGO) went from $4,370,000 to $5,046,000 a change of $676,000 quarter over quarter.
Equity analyst Loop Capital initiated coverage on AVGO by announcing an initial rating of “Buy”. On November 3 Pacific Crest maintained a company rating of “Overweight” and raised the price expectation from $180.00 to $215.00.
On October 6 analysts at Wells Fargo starting coverage on the stock giving it an initial rating of “Market Perform”. initiated coverage with an initial rating of “Market Perform”.
On October 4, 2016 Bernstein started coverage setting a rating of “Outperform” and establishing a price target of $215.00. On September 20 analysts at Susquehanna began coverage with a rating of “Positive”.
The company is now up by 1.67 percent from yesterday’s close. Broadcom Limited – Ordinary Sha also declared a dividend for shareholders paid on Friday June 30th, 2017. The dividend payment was $1.020 per share for the quarter or $4.08 on an annualized basis. The dividend yield was $1.70. The ex-dividend date was Thursday the 16th of March 2017.
It is currently trading at $244.91 just a bit higher than $241.21, the stock’s 50 day moving average and which is just over the 200 day moving average of $214.99. The 50 day moving average was up $4.32 or +1.79% and the 200 day average went up $30.54 or +14.20%.
As of the last earnings report the EPS was $-0.63 and is expected to be $15.77 for the current year with 406,592,000 shares outstanding. Next quarter’s EPS is forecasted at $4.40 and the next full year EPS is anticipated to be $17.10.
Short traders are more bullish on Broadcom Limited – Ordinary Sha recently as implied by the fall in short interest. The stock recorded a fall in short interest of -5.91% as of the latest report on May 31, 2017. Short shares decreased from 3,355,342 to 3,156,875 over that timeframe. Days to cover decreased -0.4 to 1.0 and the percentage of shorted shares is 0.01% as of May 31.