Romano Brothers AND Company Sells 187 Shares of Broadcom Inc. (NASDAQ:AVGO)

Romano Brothers AND Company cut its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 1.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,911 shares of the semiconductor manufacturer’s stock after selling 187 shares during the quarter. Broadcom comprises 1.4% of Romano Brothers AND Company’s investment portfolio, making the stock its 11th biggest holding. Romano Brothers AND Company’s holdings in Broadcom were worth $9,464,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. MRP Capital Investments LLC boosted its holdings in Broadcom by 60.0% in the first quarter. MRP Capital Investments LLC now owns 56 shares of the semiconductor manufacturer’s stock worth $36,000 after acquiring an additional 21 shares in the last quarter. Grey Fox Wealth Advisors LLC bought a new stake in Broadcom in the fourth quarter worth $39,000. Sageworth Trust Co bought a new stake in Broadcom in the first quarter worth $39,000. VitalStone Financial LLC boosted its holdings in Broadcom by 71.4% in the first quarter. VitalStone Financial LLC now owns 60 shares of the semiconductor manufacturer’s stock worth $40,000 after acquiring an additional 25 shares in the last quarter. Finally, Osterweis Capital Management Inc. boosted its holdings in Broadcom by 400.0% in the fourth quarter. Osterweis Capital Management Inc. now owns 75 shares of the semiconductor manufacturer’s stock worth $42,000 after acquiring an additional 60 shares in the last quarter. 78.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AVGO shares. Piper Sandler upped their price target on Broadcom from $830.00 to $925.00 and gave the company an “overweight” rating in a report on Tuesday, August 29th. StockNews.com raised Broadcom from a “hold” rating to a “buy” rating in a report on Wednesday, August 16th. BMO Capital Markets upped their price target on Broadcom from $890.00 to $1,000.00 and gave the company an “outperform” rating in a report on Friday, September 1st. Needham & Company LLC upped their price target on Broadcom from $33.00 to $44.00 in a report on Friday, September 1st. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $1,000.00 price target on shares of Broadcom in a report on Friday, September 1st. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and an average price target of $846.14.

Insider Activity

In other Broadcom news, Director Check Kian Low purchased 11,000 shares of Broadcom stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the acquisition, the director now owns 15,951 shares in the company, valued at approximately $13,909,750.53. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Broadcom news, Director Check Kian Low purchased 11,000 shares of Broadcom stock in a transaction dated Wednesday, September 6th. The shares were purchased at an average cost of $872.03 per share, for a total transaction of $9,592,330.00. Following the completion of the acquisition, the director now owns 15,951 shares in the company, valued at approximately $13,909,750.53. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Eddy W. Hartenstein sold 1,500 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $855.68, for a total value of $1,283,520.00. Following the completion of the sale, the director now owns 9,123 shares in the company, valued at $7,806,368.64. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.

Broadcom Price Performance

Broadcom stock traded down $6.31 during midday trading on Tuesday, reaching $843.69. 504,916 shares of the stock traded hands, compared to its average volume of 2,495,074. The stock has a market cap of $348.22 billion, a P/E ratio of 26.14, a PEG ratio of 1.78 and a beta of 1.10. Broadcom Inc. has a 12 month low of $415.07 and a 12 month high of $923.67. The stock’s fifty day moving average is $875.05 and its 200-day moving average is $763.54. The company has a quick ratio of 2.25, a current ratio of 2.50 and a debt-to-equity ratio of 1.73.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, August 31st. The semiconductor manufacturer reported $10.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.43 by $0.11. The business had revenue of $8.85 billion during the quarter, compared to analyst estimates of $8.85 billion. Broadcom had a return on equity of 74.31% and a net margin of 39.25%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the company earned $9.07 EPS. As a group, equities research analysts anticipate that Broadcom Inc. will post 37.88 EPS for the current year.

Broadcom Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Thursday, September 21st will be paid a $4.60 dividend. This represents a $18.40 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend is Wednesday, September 20th. Broadcom’s payout ratio is 56.58%.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.