Broadcom Inc. $AVGO Stock Position Raised by Mattson Financial Services LLC

Key Points

• Mattson Financial Services LLC increased its position in Broadcom Inc. by 16.4% during Q2 2023, resulting in ownership of over 20,000 shares worth approximately $5.6 million.
• Broadcom reported earnings per share of $1.69 for the latest quarter, surpassing expectations and reflecting a 22% revenue increase year-over-year.
• Multiple analysts have recently upgraded Broadcom's stock rating, with a price target set as high as $460, indicating potential for significant upside.

Mattson Financial Services LLC increased its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 16.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 20,434 shares of the semiconductor manufacturer's stock after purchasing an additional 2,879 shares during the period. Broadcom comprises about 1.5% of Mattson Financial Services LLC's investment portfolio, making the stock its 11th biggest holding. Mattson Financial Services LLC's holdings in Broadcom were worth $5,633,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Sawyer & Company Inc grew its holdings in shares of Broadcom by 62.1% during the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer's stock valued at $26,000 after buying an additional 36 shares in the last quarter. Legend Financial Advisors Inc. acquired a new stake in Broadcom during the 2nd quarter worth about $28,000. Maseco LLP purchased a new position in Broadcom during the 2nd quarter valued at about $34,000. PFS Partners LLC grew its stake in Broadcom by 38.4% during the 2nd quarter. PFS Partners LLC now owns 137 shares of the semiconductor manufacturer's stock valued at $38,000 after acquiring an additional 38 shares in the last quarter. Finally, Barnes Dennig Private Wealth Management LLC acquired a new position in shares of Broadcom in the 1st quarter valued at about $25,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 0.7%

Shares of NASDAQ:AVGO opened at $340.30 on Thursday. The stock has a market capitalization of $1.61 trillion, a PE ratio of 86.81, a P/E/G ratio of 1.93 and a beta of 1.20. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The firm has a fifty day moving average price of $329.86 and a 200 day moving average price of $272.43. The company has a current ratio of 1.50, a quick ratio of 1.37 and a debt-to-equity ratio of 0.86.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the company earned $1.24 earnings per share. The business's revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. Analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, September 22nd. Broadcom's payout ratio is 60.20%.

Insider Activity

In related news, insider Mark David Brazeal sold 16,558 shares of the company's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.61, for a total transaction of $5,755,726.38. Following the completion of the sale, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. This represents a 4.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charlie B. Kawwas sold 3,893 shares of the firm's stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the completion of the transaction, the insider owned 25,295 shares in the company, valued at $8,798,106.90. The trade was a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 3,550 shares of company stock valued at $1,227,869 and have sold 665,271 shares valued at $225,464,248. Company insiders own 2.00% of the company's stock.

Wall Street Analysts Forecast Growth

AVGO has been the subject of several research reports. Wall Street Zen upgraded shares of Broadcom from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. KeyCorp set a $460.00 price target on shares of Broadcom in a report on Monday, October 13th. Truist Financial increased their price objective on Broadcom from $295.00 to $365.00 and gave the stock a "buy" rating in a report on Friday, September 5th. Piper Sandler lifted their price objective on Broadcom from $315.00 to $375.00 and gave the company an "overweight" rating in a research report on Friday, September 5th. Finally, Evercore ISI boosted their target price on Broadcom from $342.00 to $403.00 and gave the company an "outperform" rating in a research note on Wednesday, October 15th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $372.52.

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.

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