Broadcom Inc. $AVGO Shares Sold by Mattern Capital Management LLC

Key Points

• Mattern Capital trimmed its Broadcom holding by 3.9% in Q4, selling 1,538 shares and leaving it with 37,776 shares worth about $13.07 million, roughly 1.5% of the fund's holdings and its 5th largest position.
• Multiple large institutions (Invesco, Legal & General, Franklin, Amundi, Fisher) have been adding to AVGO, leaving institutional ownership near 76.4%, which signals broad investor confidence.
• Broadcom’s rally is driven by AI demand, reported multi‑year AI deals (eg. Meta), new product launches and a bullish outlook that helped push the stock near a ~$2 trillion market cap and deliver a beat on the latest quarter (revenue $19.31B, EPS $2.05), though the shares trade at a rich valuation (P/E ~82) and carry a consensus "Moderate Buy."

Mattern Capital Management LLC reduced its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,776 shares of the semiconductor manufacturer's stock after selling 1,538 shares during the period. Broadcom accounts for about 1.5% of Mattern Capital Management LLC's holdings, making the stock its 5th biggest position. Mattern Capital Management LLC's holdings in Broadcom were worth $13,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. Invesco Ltd. raised its position in shares of Broadcom by 1.8% during the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock worth $12,915,861,000 after purchasing an additional 700,021 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Broadcom by 2.3% during the third quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer's stock valued at $11,035,749,000 after acquiring an additional 748,709 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Broadcom by 4.0% during the third quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer's stock valued at $9,736,038,000 after acquiring an additional 1,124,590 shares during the last quarter. Amundi boosted its stake in shares of Broadcom by 3.3% during the third quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer's stock valued at $7,453,320,000 after acquiring an additional 716,523 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Broadcom by 1.9% during the third quarter. Fisher Asset Management LLC now owns 12,611,740 shares of the semiconductor manufacturer's stock valued at $4,160,740,000 after acquiring an additional 237,295 shares during the last quarter. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: AI demand and bullish fiscal outlook — Analysts point to surging AI revenues, new XPU and networking products and a bullish fiscal‑2026 outlook as the core growth thesis supporting AVGO’s rally. Broadcom Shares Trade Near 52-Week High: Can the Rally Continue?
• Positive Sentiment: Large customer deals — Reports say Broadcom reached a multi‑year AI chip agreement with Meta, boosting near‑term revenue visibility from a top hyperscaler. Broadcom just reached a 3-year AI chip deal with Meta. Does that make AVGO stock a buy?
• Positive Sentiment: Hyperscaler capex tailwinds — Strong Google and Meta earnings and guidance point to continued AI capex (TPUs, custom networking), directly supporting Broadcom’s product demand outlook. Big-Tech Earnings: Google and Meta's Results Support Broadcom's Outlook
• Positive Sentiment: Product and market‑cap milestones — Broadcom unveiled Wi‑Fi 8 and optimized 10G PON chips for broadband and recently crossed roughly a $2 trillion valuation, reinforcing market confidence in both product roadmap and scale. Broadcom Accelerates Multi‑Gig Broadband with Optimized 10G PON and Wi‑Fi 8 Solutions for Mass Market
• Neutral Sentiment: Institutional buying — Notable investors and funds have increased stakes in AVGO, signaling confidence but not guaranteeing further upside. Alecta Pensionsforsakring Boosts Broadcom Stake by 398,900 Shares
• Neutral Sentiment: Sector rotation and comparisons — Commentary comparing AVGO to peers (AMD, NVDA) highlights relative strength but also shows investors weighing which chip names will best capture the AI build‑out. Why AMD, AVGO are outperforming Nvidia after Big Tech earnings
• Negative Sentiment: Overbought / supply risk — A Schwab analyst warns chip stocks have experienced a sharp rally and face “overhead supply” risk, suggesting potential pullbacks or increased volatility if buyers pause. Schwab Analyst: Chip Stocks Face ‘Overhead Supply' Risk After 50% Rally Off March Lows

Broadcom Price Performance

Shares of NASDAQ:AVGO opened at $421.28 on Monday. The stock's 50-day moving average price is $347.36 and its two-hundred day moving average price is $349.79. The company has a current ratio of 1.90, a quick ratio of 1.73 and a debt-to-equity ratio of 0.80. Broadcom Inc. has a 12-month low of $195.94 and a 12-month high of $429.31. The firm has a market cap of $1.99 trillion, a price-to-earnings ratio of 82.28, a PEG ratio of 0.87 and a beta of 1.43.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.03 by $0.02. Broadcom had a return on equity of 38.61% and a net margin of 36.57%.The firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same period last year, the company earned $1.60 EPS. The firm's quarterly revenue was up 29.5% on a year-over-year basis. On average, research analysts forecast that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Monday, March 23rd. Broadcom's dividend payout ratio (DPR) is presently 50.78%.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of the firm's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $321.60, for a total value of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares of the company's stock, valued at approximately $89,450,145.60. This trade represents a 15.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Justine Page sold 2,018 shares of the firm's stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $353.00, for a total value of $712,354.00. Following the completion of the sale, the director directly owned 18,164 shares in the company, valued at approximately $6,411,892. The trade was a 10.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 324,282 shares of company stock worth $106,425,249 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on AVGO shares. Bank of America decreased their price objective on Broadcom from $500.00 to $450.00 and set a "buy" rating on the stock in a research note on Thursday, March 5th. Zacks Research raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a research note on Thursday, April 2nd. Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 price target on shares of Broadcom in a research note on Tuesday, April 7th. Erste Group Bank cut shares of Broadcom from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Finally, Royal Bank Of Canada decreased their price target on shares of Broadcom from $370.00 to $340.00 and set a "sector perform" rating on the stock in a research note on Monday, March 2nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $435.30.

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.

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