Mattern Capital Management LLC Raises Holdings in Broadcom Inc. $AVGO

Key Points

• Mattern Capital Management LLC increased its stake in Broadcom Inc. by 4.4%, acquiring an additional 1,867 shares, bringing its total holdings to 44,109 shares valued at approximately $12.16 million.
• Multiple investment firms have recently modified their positions in Broadcom, with institutional investors now owning 76.43% of the company's stock.
• Broadcom's stock received positive ratings from analysts, with price targets raised to an average of $357.22, indicating strong expectations for future performance.

Mattern Capital Management LLC grew its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 4.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,109 shares of the semiconductor manufacturer's stock after purchasing an additional 1,867 shares during the period. Broadcom makes up about 1.5% of Mattern Capital Management LLC's portfolio, making the stock its 8th biggest position. Mattern Capital Management LLC's holdings in Broadcom were worth $12,159,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barnes Dennig Private Wealth Management LLC bought a new position in Broadcom during the first quarter valued at $25,000. Cheviot Value Management LLC bought a new position in Broadcom during the first quarter valued at $25,000. Inlight Wealth Management LLC bought a new position in Broadcom during the first quarter valued at $26,000. Sawyer & Company Inc increased its position in 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 acquiring an additional 36 shares during the last quarter. Finally, Legend Financial Advisors Inc. bought a new position in Broadcom during the second quarter valued at $28,000. Hedge funds and other institutional investors own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AVGO shares. Evercore ISI reiterated an "outperform" rating and set a $342.00 price objective (up previously from $304.00) on shares of Broadcom in a research report on Thursday, September 4th. Hsbc Global Res upgraded shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 24th. Barclays upped their price target on shares of Broadcom from $265.00 to $400.00 and gave the stock an "overweight" rating in a report on Friday, September 5th. Oppenheimer restated an "outperform" rating and issued a $360.00 price target (up from $325.00) on shares of Broadcom in a report on Friday, September 5th. Finally, Argus upped their price target on shares of Broadcom from $285.00 to $375.00 and gave the stock a "buy" rating in a report on Monday, September 8th. Three analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Broadcom presently has a consensus rating of "Buy" and an average target price of $357.22.

Insider Buying and Selling at Broadcom

In other Broadcom news, CFO Kirsten M. Spears sold 7,498 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $347.66, for a total transaction of $2,606,754.68. Following the completion of the sale, the chief financial officer directly owned 313,330 shares of the company's stock, valued at approximately $108,932,307.80. This represents a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark David Brazeal sold 16,558 shares of the stock in a transaction dated 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 sale, the insider directly owned 329,302 shares of the company's stock, valued at approximately $114,468,668.22. The trade was a 4.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 666,071 shares valued at $225,623,008. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Up 0.3%

Shares of Broadcom stock opened at $336.41 on Wednesday. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a 1 year low of $138.10 and a 1 year high of $374.23. The firm's 50-day moving average is $320.03 and its two-hundred day moving average is $259.78. The stock has a market cap of $1.59 trillion, a price-to-earnings ratio of 85.82, a PEG ratio of 1.86 and a beta of 1.20.

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

Broadcom Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Monday, September 22nd. Broadcom's dividend payout ratio is presently 60.20%.

Broadcom 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.

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