Aggressive’ Bearish Options Activity Seen in Broadcom Ltd

 Aggressive' Bearish Options Activity Seen in Broadcom Ltd

In today’s session Broadcom Ltd (AVGO) recorded an unusually high (341) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious AVGO decrease. With 341 contracts traded and 20704 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: AVGO161021P00165000 closed last at: $1.1 or 22.2% up. About 686,402 shares traded hands. Broadcom Ltd (NASDAQ:AVGO) has risen 14.82% since March 14, 2016 and is uptrending. It has outperformed by 9.21% 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. The firm earned “Buy” rating on Thursday, December 3 by Brean Capital. The firm has “Buy” rating by Zacks given on Monday, September 21. The rating was maintained by Cantor Fitzgerald on Friday, June 3 with “Buy”. The firm has “Positive” rating by Susquehanna given on Tuesday, September 20. The firm has “Buy” rating given on Thursday, February 4 by Craig Hallum. On Friday, August 28 the stock rating was maintained by BMO Capital Markets with “Outperform”. The stock of Broadcom Ltd (NASDAQ:AVGO) has “Outperform” rating given on Tuesday, February 16 by Credit Suisse. The stock of Broadcom Ltd (NASDAQ:AVGO) has “Outperform” rating given on Tuesday, August 30 by Credit Suisse. Drexel Hamilton initiated the shares of AVGO in a report on Tuesday, November 10 with “Buy” rating. The rating was upgraded by CLSA on Tuesday, August 25 to “Outperform”.

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, a Texas-based fund reported 16,831 shares. The New York-based Lyrical Asset Mngmt L P has invested 6.3% in Broadcom Ltd (NASDAQ:AVGO). Moreover, Lmr Llp has 0.51% invested in Broadcom Ltd (NASDAQ:AVGO) for 21,306 shares. Quantitative Mgmt Llc owns 10,300 shares or 0.07% of their US portfolio. Janney Montgomery Scott Limited Liability Corporation has 13,838 shares for 0.03% of their US portfolio. Eqis Cap Inc has 0.1% invested in the company for 9,008 shares. Mitchell Mcleod Pugh & Williams accumulated 0.29% or 2,045 shares. Cibc Ww has 0.11% invested in the company for 26,277 shares. Gemmer Asset Mngmt Limited Liability Com accumulated 87 shares or 0.01% of the stock. Department Mb Retail Bank N A reported 243 shares or 0% of all its holdings. The Ohio-based Huntington State Bank has invested 0.01% in Broadcom Ltd (NASDAQ:AVGO). Vantage Advsrs Lc holds 0% of its portfolio in Broadcom Ltd (NASDAQ:AVGO) for 12 shares.

Broadcom Limited is a semiconductor company. The company has a market cap of $67.84 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: Streetinsider.com which released: “Broadcom Ltd. (AVGO) Appoints New CFO” on October 17, 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: “Broadcom Ltd Already a Big Winner From the Upcoming iPhone 7” on September 06, 2016. More interesting news about Broadcom Ltd (NASDAQ:AVGO) were released by: Fool.com and their article: “Why Did Broadcom Ltd. Quit The Internet of Things?” published on May 09, 2016 as well as Fool.com‘s news article titled: “Broadcom Ltd Jumps and Gogo Inc Dives As Stocks Fall” with publication date: June 03, 2016.

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