Broadcom Limited (NASDAQ:AVGO) was the recipient of a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,800,288 shares, a growth of 31.3% from the August 15th total of 2,893,938 shares. Based on an average daily volume of 3,119,332 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.9% of the company’s stock are short sold.

Shares of Broadcom Limited (NASDAQ:AVGO) opened at 250.55 on Friday. Broadcom Limited has a 1-year low of $160.62 and a 1-year high of $259.36. The firm’s 50-day moving average price is $249.04 and its 200 day moving average price is $236.06. The company has a market capitalization of $102.22 billion, a PE ratio of 190.82 and a beta of 1.07.

Broadcom Limited (NASDAQ:AVGO) last announced its quarterly earnings results on Thursday, August 24th. The semiconductor manufacturer reported $4.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.03 by $0.07. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The firm had revenue of $4.47 billion during the quarter, compared to the consensus estimate of $4.46 billion. During the same period last year, the firm earned $2.89 EPS. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. Equities analysts predict that Broadcom Limited will post $15.92 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be issued a $1.02 dividend. This represents a $4.08 annualized dividend and a yield of 1.63%. The ex-dividend date is Monday, September 18th. Broadcom Limited’s payout ratio is 348.72%.

Several research firms have issued reports on AVGO. KeyCorp reissued an “overweight” rating and issued a $280.00 price target on shares of Broadcom Limited in a research note on Wednesday, August 23rd. Rosenblatt Securities reissued a “buy” rating and issued a $270.00 price target on shares of Broadcom Limited in a research note on Wednesday, August 23rd. UBS AG reissued an “overweight” rating on shares of Broadcom Limited in a research note on Thursday, August 24th. Loop Capital reissued a “buy” rating and issued a $302.00 price target on shares of Broadcom Limited in a research note on Friday, August 25th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $290.00 price target (up previously from $260.00) on shares of Broadcom Limited in a research note on Friday, August 25th. Two investment analysts have rated the stock with a hold rating, thirty-two have issued a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $274.48.

In other Broadcom Limited news, SVP Bryan Ingram sold 30,000 shares of Broadcom Limited stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $244.01, for a total value of $7,320,300.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Charlie B. Kawwas sold 1,788 shares of Broadcom Limited stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $247.28, for a total value of $442,136.64. The disclosure for this sale can be found here. Insiders sold a total of 41,788 shares of company stock worth $10,208,337 in the last three months. Company insiders own 3.60% of the company’s stock.

Large investors have recently made changes to their positions in the business. Comerica Bank boosted its holdings in Broadcom Limited by 1.3% in the 1st quarter. Comerica Bank now owns 106,595 shares of the semiconductor manufacturer’s stock valued at $23,780,000 after purchasing an additional 1,375 shares during the period. Alps Advisors Inc. bought a new position in Broadcom Limited in the 2nd quarter valued at $221,000. Icon Advisers Inc. Co. boosted its holdings in Broadcom Limited by 4.0% in the 1st quarter. Icon Advisers Inc. Co. now owns 76,030 shares of the semiconductor manufacturer’s stock valued at $16,648,000 after purchasing an additional 2,900 shares during the period. Principal Financial Group Inc. boosted its holdings in Broadcom Limited by 14.4% in the 2nd quarter. Principal Financial Group Inc. now owns 667,057 shares of the semiconductor manufacturer’s stock valued at $155,459,000 after purchasing an additional 83,929 shares during the period. Finally, DSAM Partners London Ltd boosted its holdings in Broadcom Limited by 103.4% in the 2nd quarter. DSAM Partners London Ltd now owns 184,714 shares of the semiconductor manufacturer’s stock valued at $43,048,000 after purchasing an additional 93,890 shares during the period. 90.04% of the stock is owned by hedge funds and other institutional investors.

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About Broadcom Limited

Broadcom Limited 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.

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