Mattson Financial Services LLC Raises Stock Position in Broadcom Inc. (NASDAQ:AVGO)

Mattson Financial Services LLC lifted its stake in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1,110.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,460 shares of the semiconductor manufacturer's stock after purchasing an additional 16,018 shares during the period. Broadcom comprises about 1.3% of Mattson Financial Services LLC's holdings, making the stock its 18th largest holding. Mattson Financial Services LLC's holdings in Broadcom were worth $4,048,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Broadcom in the fourth quarter valued at approximately $16,893,010,000. Price T Rowe Associates Inc. MD increased its position in shares of Broadcom by 46.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,524,533 shares of the semiconductor manufacturer's stock valued at $11,018,089,000 after purchasing an additional 15,171,849 shares during the last quarter. GQG Partners LLC raised its holdings in shares of Broadcom by 200.0% in the 4th quarter. GQG Partners LLC now owns 10,213,160 shares of the semiconductor manufacturer's stock valued at $2,367,819,000 after purchasing an additional 6,809,245 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Broadcom by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 475,134,603 shares of the semiconductor manufacturer's stock worth $110,155,206,000 after purchasing an additional 6,573,204 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Broadcom by 27.4% during the fourth quarter. Franklin Resources Inc. now owns 26,897,909 shares of the semiconductor manufacturer's stock worth $6,236,011,000 after purchasing an additional 5,783,988 shares in the last quarter. 76.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AVGO has been the topic of a number of analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $300.00 price target on shares of Broadcom in a research note on Friday, March 7th. Benchmark reaffirmed a "buy" rating and set a $255.00 price objective on shares of Broadcom in a research report on Friday, March 7th. Rosenblatt Securities reissued a "buy" rating and set a $250.00 target price on shares of Broadcom in a research report on Friday, March 7th. Citigroup lowered their price target on Broadcom from $220.00 to $210.00 and set a "buy" rating for the company in a report on Friday, April 11th. Finally, Seaport Res Ptn upgraded shares of Broadcom to a "strong-buy" rating in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $238.77.

Insider Activity

In other news, Director Justine Page sold 800 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $185.00, for a total value of $148,000.00. Following the completion of the sale, the director now directly owns 25,380 shares of the company's stock, valued at $4,695,300. This trade represents a 3.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark David Brazeal sold 30,000 shares of Broadcom stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $194.65, for a total value of $5,839,500.00. Following the completion of the sale, the insider now owns 490,956 shares in the company, valued at approximately $95,564,585.40. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 720,576 shares of company stock valued at $131,249,694 over the last quarter. Corporate insiders own 2.00% of the company's stock.

Broadcom Stock Performance

NASDAQ:AVGO traded down $2.47 during midday trading on Friday, reaching $239.50. The stock had a trading volume of 27,045,094 shares, compared to its average volume of 31,042,485. The company has a quick ratio of 1.07, a current ratio of 1.17 and a debt-to-equity ratio of 0.98. The stock has a market cap of $1.13 trillion, a P/E ratio of 195.35, a P/E/G ratio of 2.29 and a beta of 1.04. The firm has a fifty day simple moving average of $195.38 and a two-hundred day simple moving average of $203.23. Broadcom Inc. has a 12-month low of $128.50 and a 12-month high of $251.88.

Broadcom Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, March 20th were issued a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Thursday, March 20th. Broadcom's payout ratio is 113.46%.

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

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.