Is Selling Broadcom Ltd Here a Winning Strategy? Option Traders Hate The Stock

 Is Selling Broadcom Ltd Here a Winning Strategy? Option Traders Hate The Stock

In today’s session Broadcom Ltd (AVGO) recorded an unusually high (377) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious AVGO decrease. With 377 contracts traded and 114 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: AVGO161216P00135000 closed last at: $1.4 or 7.7% up. About 934,435 shares traded hands. Broadcom Ltd (NASDAQ:AVGO) has risen 26.32% since March 3, 2016 and is uptrending. It has outperformed by 17.98% the S&P500.

Broadcom Ltd (NASDAQ:AVGO) Ratings Coverage

Out of 32 analysts covering Avago Technologies Limited (NASDAQ:AVGO), 30 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 94% are positive. Avago Technologies Limited has been the topic of 79 analyst reports since August 4, 2015 according to StockzIntelligence Inc. FBR Capital initiated Broadcom Ltd (NASDAQ:AVGO) on Thursday, December 10 with “Outperform” rating. RBC Capital Markets initiated Broadcom Ltd (NASDAQ:AVGO) rating on Monday, August 17. RBC Capital Markets has “Outperform” rating and $150 price target. As per Friday, June 3, the company rating was maintained by RBC Capital Markets. The firm has “Buy” rating given on Friday, June 3 by Craig Hallum. The firm earned “Buy” rating on Friday, August 7 by Drexel Hamilton. The stock of Broadcom Ltd (NASDAQ:AVGO) earned “Top Pick” rating by RBC Capital Markets on Monday, December 21. The rating was upgraded by JMP Securities to “Market Outperform” on Thursday, September 10. The firm has “Buy” rating given on Wednesday, February 24 by M Partners. The firm has “Buy” rating given on Friday, June 3 by Drexel Hamilton. The firm has “Outperform” rating given on Friday, June 3 by Cowen & Co.

According to Zacks Investment Research, “Broadcom Limited is a designer, developer and supplier of analog and digital semiconductor connectivity solutions. The company provides data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, data center servers and storage, factory automation, power generation and alternative energy systems and displays. It serves wired infrastructure, wireless communications, enterprise storage and industrial & other market. Broadcom Limited, formerly known as Avago Technologies Limited, is headquartered in Singapore.”

Insitutional Activity: The institutional sentiment increased to 0.47 in Q2 2016. Its up 0.45, from 0.02 in 2016Q1. The ratio is positive, as 11 funds sold all Broadcom Ltd shares owned while 4 reduced positions. 5 funds bought stakes while 2 increased positions. They now own 2.04 million shares or 19.41% less from 2.54 million shares in 2016Q1.
Scott Selber last reported 16,831 shares in the company. The Ohio-based Huntington Fincl Bank has invested 0.01% in Broadcom Ltd (NASDAQ:AVGO). Vantage Investment Advsr Limited Liability Co, a Pennsylvania-based fund reported 12 shares. Mitchell Mcleod Pugh & Williams Incorporated holds 2,045 shares or 0.29% of its portfolio. Gemmer Asset Mngmt Ltd Liability Corp accumulated 87 shares or 0.01% of the stock. Eqis Inc reported 9,008 shares or 0.1% of all its holdings. Quantitative Investment Limited Liability Company has 10,300 shares for 0.07% of their US portfolio. Tru Department Mb National Bank N A reported 243 shares or 0% of all its holdings. Lyrical Asset Limited Partnership has 6.3% invested in the company for 1.94M shares. Janney Montgomery Scott Limited Liability Corp accumulated 0.03% or 13,838 shares. Lmr Prtnrs Limited Liability Partnership last reported 0.51% of its portfolio in the stock. Cibc World Markets Corporation accumulated 0.11% or 26,277 shares.

Broadcom Limited is a semiconductor company. The company has a market cap of $70.58 billion. The Firm offers a range of products in end-markets, including wired infrastructure, wireless communications, enterprise storage, and industrial and others. It currently has negative earnings. The Company’s products are used in various applications, including data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, data center servers and storage, factory automation, power generation and alternative energy systems, and displays.

AVGO Company Profile

Broadcom Limited is a semiconductor company. The Firm offers a range of products in end-markets, including wired infrastructure, wireless communications, enterprise storage, and industrial and others. The Company’s products are used in various applications, including data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, data center servers and storage, factory automation, power generation and alternative energy systems, and displays. The Company’s product categories include broadband access and modems, enterprise and network processors, Ethernet communication and switching, set-top box and media processors, wireless infrastructure and wireless connectivity. The Company’s broadband access and modems category consists of products, such as Universal 1024 quadrature amplitude modulation (QAM) Modulator, Universal DOCSIS 2.0-Based Downstream Modulator, Dual Universal DOCSIS/EuroDOCSIS 2.0 Burst Receiver, DOCSIS/EuroDOCSIS 2.0-Based Cable Modem Termination System and QAMLink DOCSIS/EuroDOCSIS 2.0 Single-Chip Cable Modem.

More notable recent Broadcom Ltd (NASDAQ:AVGO) news were published by: Fool.com which released: “Broadcom Ltd Already a Big Winner From the Upcoming iPhone 7” on September 06, 2016, also Profitconfidential.com with their article: “Broadcom Ltd: This Catalyst Could Boost AVGO Stock to $200” published on September 30, 2016, Fool.com published: “Why Did Broadcom Ltd. Quit The Internet of Things?” on May 09, 2016. More interesting news about Broadcom Ltd (NASDAQ:AVGO) were released by: Fool.com and their article: “Broadcom Ltd Jumps and Gogo Inc Dives As Stocks Fall” published on June 03, 2016 as well as Fool.com‘s news article titled: “Key Takeaways From Broadcom Ltd.’s Earnings Call” with publication date: June 08, 2016.

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