Short Interest Spikes 38% For Broadcom (BRCM)

Recent short interest data for the 3/13/2015 settlement date shows an increase in short interest for shares of Broadcom Corp. (BRCM). As of March 13, the short interest for the semiconductor solutions provider totaled 6,938,948 shares, as compared to 5,039,212 shares since February 27, a jump of 38%. Average daily volume [AVM] for the same period fell by 1,210,784 to 4,530,886 shares from 5,741,670 shares. It is worth mentioning that ticker’s short interest has declined by more than 8 million shares, or 60%, from the 9/15/2014 settlement date.

Based on the latest AVM, the days-to-cover ratio — a metric that includes both the total shares short and the average daily volume of shares traded — is currently 1.53 days. Days-to-cover for BRCM increased to 1.53 for the March 13 settlement date, as compared to 1.00 days at the February 27 report.

Broadcom Corp. has a beta of 0.77 and a short float of 1.26%. In the past 52 weeks, shares of the New York-based company have traded between a low of $28.86 and a high of $46.31 and are now at $42.56. Shares are up 42.93% year-over-year and 3.22% year-to-date.

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