Deseret Mutual Benefit Administrators Lowers Stock Position in Broadcom Inc. $AVGO

Deseret Mutual Benefit Administrators cut its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 14.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,612 shares of the semiconductor manufacturer's stock after selling 1,469 shares during the quarter. Broadcom accounts for 1.3% of Deseret Mutual Benefit Administrators' holdings, making the stock its 9th largest position. Deseret Mutual Benefit Administrators' holdings in Broadcom were worth $2,981,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Argent Advisors Inc. increased its holdings in shares of Broadcom by 1.8% during the fourth quarter. Argent Advisors Inc. now owns 3,235 shares of the semiconductor manufacturer's stock worth $1,120,000 after purchasing an additional 56 shares during the period. Avise Financial Cooperative Inc. bought a new position in shares of Broadcom during the fourth quarter worth approximately $270,000. Vista Cima Wealth Management LLC increased its holdings in shares of Broadcom by 53.9% during the fourth quarter. Vista Cima Wealth Management LLC now owns 7,507 shares of the semiconductor manufacturer's stock worth $2,598,000 after purchasing an additional 2,628 shares during the period. Vise Technologies Inc. increased its holdings in shares of Broadcom by 44.9% during the fourth quarter. Vise Technologies Inc. now owns 140,379 shares of the semiconductor manufacturer's stock worth $48,585,000 after purchasing an additional 43,506 shares during the period. Finally, Continuum Advisory LLC increased its holdings in shares of Broadcom by 5.6% during the fourth quarter. Continuum Advisory LLC now owns 14,221 shares of the semiconductor manufacturer's stock worth $4,922,000 after purchasing an additional 756 shares during the period. 76.43% of the stock is owned by institutional investors.

Insider Transactions at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 50,488 shares of the firm's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total value of $16,236,940.80. Following the sale, the insider owned 278,141 shares in the company, valued at $89,450,145.60. This trade represents a 15.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider S. Ram Velaga sold 8,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $370.52, for a total transaction of $2,964,160.00. Following the completion of the sale, the insider owned 57,932 shares in the company, valued at $21,464,964.64. This represents a 12.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 324,282 shares of company stock valued at $106,425,249. Corporate insiders own 1.90% of the company's stock.

Broadcom Stock Performance

Shares of NASDAQ:AVGO opened at $385.73 on Monday. The company's 50 day simple moving average is $396.22 and its 200 day simple moving average is $362.04. The stock has a market capitalization of $1.83 trillion, a price-to-earnings ratio of 64.29, a price-to-earnings-growth ratio of 0.70 and a beta of 1.41. The company has a debt-to-equity ratio of 0.71, a current ratio of 2.24 and a quick ratio of 2.01. Broadcom Inc. has a 1 year low of $241.11 and a 1 year high of $495.00.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.40 by $0.04. Broadcom had a net margin of 38.85% and a return on equity of 41.61%. The business had revenue of $22.19 billion for the quarter, compared to analysts' expectations of $22.13 billion. During the same period last year, the firm posted $1.58 earnings per share. The firm's quarterly revenue was up 47.9% compared to the same quarter last year. As a group, research analysts predict that Broadcom Inc. will post 9.97 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd will be given a $0.65 dividend. The ex-dividend date is Monday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is currently 43.33%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AVGO shares. Jefferies Financial Group set a $550.00 target price on shares of Broadcom and gave the stock a "buy" rating in a report on Thursday. Wall Street Zen raised shares of Broadcom from a "hold" rating to a "buy" rating in a research note on Sunday. Weiss Ratings raised shares of Broadcom from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Wednesday, May 27th. Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the company an "overweight" rating in a research note on Thursday. Finally, Royal Bank Of Canada lifted their price objective on shares of Broadcom from $360.00 to $400.00 and gave the company a "sector perform" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $490.13.

Trending Headlines about Broadcom

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Broadcom posted record quarterly revenue, beat earnings estimates, and said AI semiconductor demand remains strong, supporting the long-term growth story. Broadcom Q2 Earnings Surpasses Estimates, Revenues Surge Y/Y
• Positive Sentiment: Several analysts remain bullish and raised price targets after the pullback, arguing the market is overreacting to expectations rather than fundamentals. Goldman Sachs urges investors to buy Broadcom dip with still AI revenue trajectory intact
• Positive Sentiment: Management still expects AI revenue to reach $56 billion in fiscal 2026 and more than $100 billion in fiscal 2027, keeping the longer-term AI thesis intact. AVGO Shares Drop 13% Post Q2 Results: Buy, Sell or Hold on the Dip?
• Neutral Sentiment: Broadcom also declared a quarterly dividend, which is supportive for income investors but not a major near-term stock driver.
• Negative Sentiment: The stock is under pressure because the AI outlook, while strong, was not upgraded enough to satisfy investors who had priced in an even bigger upside surprise. Broadcom's sales and AI chip forecast comes in below expectations, shares tumble
• Negative Sentiment: The disappointment has spilled over into the semiconductor sector, pressuring peers such as AMD, Intel, Micron, and Marvell as investors reassess AI trade valuations. Intel, AMD stocks slide again in aftermath of Broadcom's weak outlook

Broadcom Company 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.

Want to see what other hedge funds are holding AVGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Broadcom Inc. (NASDAQ:AVGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.