Romano Brothers AND Company Sells 13,043 Shares of Broadcom Inc. $AVGO

Romano Brothers AND Company trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 15.0% in the 4th quarter, HoldingsChannel reports. The firm owned 73,921 shares of the semiconductor manufacturer’s stock after selling 13,043 shares during the quarter. Broadcom makes up about 2.9% of Romano Brothers AND Company’s portfolio, making the stock its 4th largest position. Romano Brothers AND Company’s holdings in Broadcom were worth $25,584,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Baring Financial LLC increased its holdings in Broadcom by 2.2% in the 4th quarter. Baring Financial LLC now owns 1,359 shares of the semiconductor manufacturer’s stock worth $470,000 after buying an additional 29 shares during the period. Arthur M. Cohen & Associates LLC boosted its holdings in shares of Broadcom by 0.6% in the 3rd quarter. Arthur M. Cohen & Associates LLC now owns 4,781 shares of the semiconductor manufacturer’s stock valued at $1,577,000 after acquiring an additional 30 shares during the last quarter. Jackson Hole Capital Partners LLC boosted its holdings in shares of Broadcom by 1.4% in the 3rd quarter. Jackson Hole Capital Partners LLC now owns 2,170 shares of the semiconductor manufacturer’s stock valued at $716,000 after acquiring an additional 30 shares during the last quarter. Private Wealth Partners LLC increased its stake in shares of Broadcom by 0.7% in the third quarter. Private Wealth Partners LLC now owns 4,273 shares of the semiconductor manufacturer’s stock worth $1,410,000 after acquiring an additional 30 shares during the period. Finally, Planning Alternatives Ltd. ADV increased its stake in shares of Broadcom by 1.4% in the third quarter. Planning Alternatives Ltd. ADV now owns 2,168 shares of the semiconductor manufacturer’s stock worth $715,000 after acquiring an additional 30 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on AVGO. TD Cowen restated a “buy” rating on shares of Broadcom in a research report on Friday, December 12th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $475.00 price target (up from $400.00) on shares of Broadcom in a research report on Friday, December 12th. The Goldman Sachs Group reiterated a “buy” rating and set a $450.00 price objective on shares of Broadcom in a research note on Monday, January 5th. Weiss Ratings reissued a “buy (b)” rating on shares of Broadcom in a report on Monday, December 29th. Finally, Zacks Research downgraded Broadcom from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $435.30.

Broadcom Stock Performance

AVGO opened at $293.41 on Tuesday. The firm’s fifty day simple moving average is $325.83 and its two-hundred day simple moving average is $344.28. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $414.61. The company has a market cap of $1.39 trillion, a price-to-earnings ratio of 57.31, a PEG ratio of 0.64 and a beta of 1.22. The company has a quick ratio of 1.73, a current ratio of 1.90 and a debt-to-equity ratio of 0.80.

Broadcom (NASDAQ:AVGO) last released its earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The business had revenue of $19.31 billion during the quarter, compared to analysts’ expectations of $19.10 billion. During the same quarter in the previous year, the company earned $1.60 earnings per share. The company’s quarterly revenue was up 29.5% on a year-over-year basis. Equities analysts anticipate that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.9%. The ex-dividend date is Monday, March 23rd. Broadcom’s payout ratio is 50.78%.

Insider Buying and Selling at Broadcom

In related news, CEO Hock E. Tan sold 70,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $347.30, for a total transaction of $24,311,000.00. Following the completion of the sale, the chief executive officer directly owned 132,836 shares in the company, valued at approximately $46,133,942.80. The trade was a 34.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charlie B. Kawwas sold 39,116 shares of the stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.61, for a total value of $12,580,096.76. Following the completion of the transaction, the insider directly owned 74,626 shares of the company’s stock, valued at approximately $24,000,467.86. This represents a 34.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 403,049 shares of company stock valued at $133,459,315. 1.90% of the stock is owned by insiders.

About Broadcom

Broadcom Inc (NASDAQ: AVGO) is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company’s semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom’s portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.