Broadcom Inc. (NASDAQ:AVGO) is Romano Brothers AND Company’s 8th Largest Position

Romano Brothers AND Company grew its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 926.9% during the third quarter, according to its most recent filing with the SEC. The firm owned 103,615 shares of the semiconductor manufacturer’s stock after acquiring an additional 93,525 shares during the period. Broadcom comprises about 2.2% of Romano Brothers AND Company’s holdings, making the stock its 8th largest holding. Romano Brothers AND Company’s holdings in Broadcom were worth $17,874,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Swedbank AB boosted its stake in Broadcom by 858.7% during the third quarter. Swedbank AB now owns 18,369,841 shares of the semiconductor manufacturer’s stock worth $3,168,798,000 after acquiring an additional 16,453,718 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Broadcom by 855.4% during the third quarter. Raymond James & Associates now owns 12,674,158 shares of the semiconductor manufacturer’s stock valued at $2,186,292,000 after purchasing an additional 11,347,563 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Broadcom by 226,130.5% in the 3rd quarter. International Assets Investment Management LLC now owns 8,246,100 shares of the semiconductor manufacturer’s stock worth $14,224,520,000 after purchasing an additional 8,242,455 shares in the last quarter. Handelsbanken Fonder AB grew its stake in shares of Broadcom by 826.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 2,963,813 shares of the semiconductor manufacturer’s stock worth $511,258,000 after buying an additional 2,643,845 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Broadcom by 1,005.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,577,226 shares of the semiconductor manufacturer’s stock valued at $272,072,000 after buying an additional 1,434,564 shares in the last quarter. Institutional investors own 76.43% of the company’s stock.

Insider Activity

In related news, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Hock E. Tan sold 50,000 shares of Broadcom stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $163.37, for a total transaction of $8,168,500.00. Following the sale, the chief executive officer now owns 1,331,910 shares of the company’s stock, valued at approximately $217,594,136.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gayla J. Delly sold 750 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the transaction, the director now owns 34,750 shares of the company’s stock, valued at $6,064,917.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 311,080 shares of company stock worth $53,540,590 in the last three months. Company insiders own 2.00% of the company’s stock.

Broadcom Price Performance

NASDAQ AVGO opened at $173.00 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.94 and a current ratio of 1.04. The business’s fifty day moving average is $168.18 and its 200 day moving average is $154.68. The company has a market capitalization of $805.29 billion, a PE ratio of 7.44, a price-to-earnings-growth ratio of 2.99 and a beta of 1.17. Broadcom Inc. has a fifty-two week low of $81.83 and a fifty-two week high of $186.42.

Broadcom (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, September 5th. The semiconductor manufacturer reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. Sell-side analysts predict that Broadcom Inc. will post 3.78 earnings per share for the current year.

Broadcom Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Thursday, September 19th were paid a $0.53 dividend. The ex-dividend date was Thursday, September 19th. This is a boost from Broadcom’s previous quarterly dividend of $0.53. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.23%. Broadcom’s dividend payout ratio is 9.12%.

Wall Street Analysts Forecast Growth

Several research firms have commented on AVGO. Mizuho boosted their target price on Broadcom from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Rosenblatt Securities dropped their price target on shares of Broadcom from $2,400.00 to $240.00 and set a “buy” rating on the stock in a research note on Friday, September 6th. Cantor Fitzgerald raised their price objective on shares of Broadcom from $200.00 to $225.00 and gave the company an “overweight” rating in a research note on Tuesday, October 8th. Benchmark reiterated a “buy” rating and issued a $210.00 target price on shares of Broadcom in a research note on Friday, September 6th. Finally, The Goldman Sachs Group raised their price target on shares of Broadcom from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $191.54.

About Broadcom

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.