Romano Brothers AND Company Sells 2,782 Shares of Broadcom Inc. $AVGO

Romano Brothers AND Company trimmed its position in Broadcom Inc. (NASDAQ:AVGO) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 69,933 shares of the semiconductor manufacturer’s stock after selling 2,782 shares during the quarter. Broadcom comprises 2.7% of Romano Brothers AND Company’s holdings, making the stock its 6th largest position. Romano Brothers AND Company’s holdings in Broadcom were worth $26,417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. Balance Wealth Partners LLC boosted its position in Broadcom by 26.1% in the second quarter. Balance Wealth Partners LLC now owns 1,236 shares of the semiconductor manufacturer’s stock valued at $467,000 after buying an additional 256 shares during the last quarter. SBI Okasan Asset Management Co.Ltd. raised its position in Broadcom by 3.5% during the 2nd quarter. SBI Okasan Asset Management Co.Ltd. now owns 19,452 shares of the semiconductor manufacturer’s stock worth $7,245,000 after buying an additional 666 shares during the last quarter. Benchmark Financial LLC purchased a new position in Broadcom during the 2nd quarter worth approximately $271,000. Fearless Solutions LLC dba Best Invest acquired a new stake in Broadcom during the 2nd quarter valued at approximately $221,000. Finally, JM2 Capital Inc. lifted its stake in Broadcom by 0.6% during the 2nd quarter. JM2 Capital Inc. now owns 9,328 shares of the semiconductor manufacturer’s stock valued at $3,524,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 76.43% of the company’s stock.

Insider Transactions at Broadcom

In other news, insider Mark David Brazeal sold 25,000 shares of Broadcom stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $401.33, for a total value of $10,033,250.00. Following the sale, the insider directly owned 194,989 shares of the company’s stock, valued at $78,254,935.37. The trade was a 11.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Justine Page sold 1,602 shares of the business’s stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $373.86, for a total value of $598,923.72. Following the sale, the director owned 17,426 shares of the company’s stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,644 shares of company stock worth $24,016,214 over the last three months. 1.90% of the stock is owned by insiders.

Broadcom Stock Up 0.0%

Shares of NASDAQ AVGO opened at $393.05 on Monday. The company’s 50-day simple moving average is $389.79 and its 200-day simple moving average is $373.64. Broadcom Inc. has a 52-week low of $281.87 and a 52-week high of $495.00. The firm has a market cap of $1.87 trillion, a price-to-earnings ratio of 65.51, a price-to-earnings-growth ratio of 0.75 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The firm had revenue of $22.19 billion during the quarter, compared to the consensus estimate of $22.13 billion. During the same quarter in the prior year, the firm earned $1.58 EPS. The company’s revenue for the quarter was up 47.9% on a year-over-year basis. Equities analysts predict that Broadcom Inc. will post 10.24 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 22nd. Broadcom’s payout ratio is 43.33%.

Key Stories Impacting Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom’s custom-silicon and XPU opportunity remains a key long-term catalyst. Analysts and commentators point to accelerating AI infrastructure spending, major customer agreements, and potential growth in custom chips and networking. Broadcom: XPU Growth Trajectory Underestimated, Stock A Bargain
• Positive Sentiment: Wall Street’s average price target implies substantial upside from recent trading levels, supporting the bullish view that the market may be underestimating Broadcom’s AI growth trajectory. Broadcom is Down Over 3 Months: One Wall Street Pro Sees 60%+ Gains Ahead
• Positive Sentiment: Continued institutional interest, including purchases by GAMCO Investors and Cathie Wood’s reported investment, provides some additional support for the stock’s long-term AI investment case. Cathie Wood buys $16.2 million of Broadcom

Analyst Upgrades and Downgrades

AVGO has been the topic of a number of research reports. Jefferies Financial Group set a $550.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a research note on Thursday, June 4th. Truist Financial boosted their target price on shares of Broadcom from $545.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. KeyCorp reaffirmed an “overweight” rating and set a $575.00 price target (up from $500.00) on shares of Broadcom in a research report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $515.00 price objective (up from $430.00) on shares of Broadcom in a research note on Thursday, June 4th. Finally, Oppenheimer restated an “outperform” rating and issued a $535.00 target price (up from $450.00) on shares of Broadcom in a research note on Thursday, June 4th. Twenty-eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $493.24.

Broadcom Profile

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.