Broadcom Inc. (NASDAQ:AVGO) Shares Sold by Mattern Capital Management LLC

Mattern Capital Management LLC cut its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 7.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 46,796 shares of the semiconductor manufacturer’s stock after selling 3,804 shares during the quarter. Broadcom accounts for 1.4% of Mattern Capital Management LLC’s investment portfolio, making the stock its 10th biggest position. Mattern Capital Management LLC’s holdings in Broadcom were worth $10,849,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. boosted its position in Broadcom by 900.0% during the third quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares during the last quarter. Retirement Wealth Solutions LLC bought a new stake in Broadcom in the fourth quarter valued at approximately $37,000. R Squared Ltd bought a new stake in Broadcom in the fourth quarter valued at approximately $39,000. JDM Financial Group LLC raised its stake in Broadcom by 1,323.1% in the third quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after buying an additional 172 shares during the period. Finally, Asset Planning Inc bought a new stake in Broadcom in the fourth quarter valued at approximately $46,000. 76.43% of the stock is owned by institutional investors and hedge funds.

Broadcom Trading Down 3.6 %

Shares of AVGO stock opened at $218.61 on Friday. The stock’s fifty day moving average price is $230.09 and its two-hundred day moving average price is $190.11. The company has a market cap of $1.02 trillion, a PE ratio of 178.32, a P/E/G ratio of 2.37 and a beta of 1.02. Broadcom Inc. has a fifty-two week low of $119.76 and a fifty-two week high of $251.88. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.07 and a current ratio of 1.17.

Broadcom (NASDAQ:AVGO) last issued its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. The firm had revenue of $14.05 billion for the quarter, compared to the consensus estimate of $14.07 billion. Broadcom had a return on equity of 28.00% and a net margin of 11.43%. The company’s revenue was up 51.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. Equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, December 23rd. This is an increase from Broadcom’s previous quarterly dividend of $0.53. Broadcom’s dividend payout ratio (DPR) is currently 192.50%.

Insider Buying and Selling at Broadcom

In related news, Director Check Kian Low sold 48,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $235.35, for a total transaction of $11,296,800.00. Following the sale, the director now owns 113,050 shares of the company’s stock, valued at $26,606,317.50. This trade represents a 29.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $240.00, for a total value of $1,569,600.00. Following the sale, the director now directly owns 30,450 shares in the company, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 191,278 shares of company stock valued at $44,964,800. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Bank of America upped their price objective on Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, December 13th. UBS Group upped their price objective on Broadcom from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Benchmark restated a “buy” rating and issued a $255.00 price objective (up previously from $210.00) on shares of Broadcom in a research note on Friday, December 13th. Piper Sandler increased their target price on Broadcom from $200.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, December 13th. Finally, Barclays increased their target price on Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $225.04.

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.