Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company lessened its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 98,717 shares of the semiconductor manufacturer's stock after selling 4,088 shares during the period. Broadcom comprises approximately 2.1% of Romano Brothers AND Company's holdings, making the stock its 7th biggest holding. Romano Brothers AND Company's holdings in Broadcom were worth $16,528,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Canton Hathaway LLC acquired a new position in shares of Broadcom during the fourth quarter worth approximately $26,000. Rialto Wealth Management LLC bought a new position in Broadcom in the 4th quarter worth approximately $26,000. Sunbeam Capital Management LLC acquired a new position in Broadcom during the 4th quarter worth $28,000. Vermillion Wealth Management Inc. bought a new position in Broadcom in the 4th quarter valued at $30,000. Finally, Sellwood Investment Partners LLC acquired a new stake in shares of Broadcom in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 76.43% of the company's stock.

Insider Activity

In other news, insider Mark David Brazeal sold 25,000 shares of the stock in a transaction dated Friday, April 11th. The shares were sold at an average price of $180.00, for a total transaction of $4,500,000.00. Following the completion of the transaction, the insider now directly owns 465,956 shares in the company, valued at $83,872,080. This represents a 5.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Henry Samueli sold 663,976 shares of the company's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $181.60, for a total value of $120,578,041.60. Following the sale, the director now owns 38,798,721 shares in the company, valued at $7,045,847,733.60. The trade was a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,576 shares of company stock worth $131,249,694 over the last ninety days. Insiders own 2.00% of the company's stock.

Broadcom Stock Up 1.6%

Broadcom stock traded up $4.23 during midday trading on Wednesday, reaching $261.08. The stock had a trading volume of 31,461,945 shares, compared to its average volume of 30,845,963. Broadcom Inc. has a 1-year low of $128.50 and a 1-year high of $265.31. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17. The firm's fifty day simple moving average is $198.47 and its 200-day simple moving average is $204.62. The stock has a market capitalization of $1.23 trillion, a P/E ratio of 212.95, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Broadcom announced that its board has approved a stock repurchase plan on Monday, April 7th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the semiconductor manufacturer to reacquire up to 1.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AVGO shares. KeyCorp upped their price target on Broadcom from $260.00 to $275.00 and gave the company an "overweight" rating in a research note on Friday, March 7th. Benchmark restated a "buy" rating and set a $255.00 target price on shares of Broadcom in a research report on Friday, March 7th. Bank of America lowered their price target on shares of Broadcom from $260.00 to $240.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Susquehanna raised their price objective on shares of Broadcom from $250.00 to $280.00 and gave the company a "positive" rating in a research note on Thursday, May 29th. Finally, Truist Financial upped their target price on shares of Broadcom from $260.00 to $267.00 and gave the company a "buy" rating in a research report on Friday, March 7th. Three equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Broadcom presently has a consensus rating of "Moderate Buy" and an average price target of $246.00.

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.