Deseret Mutual Benefit Administrators Increases Holdings in Broadcom Inc.

Deseret Mutual Benefit Administrators significantly increased its investment in Broadcom Inc. (NASDAQ:AVGO) by 818.3% during the third quarter, according to recent reports. The firm now holds 8,999 shares of the semiconductor company after acquiring an additional 8,019 shares in that period. Broadcom represents approximately 0.8% of Deseret Mutual Benefit Administrators' overall portfolio, ranking it as the 21st largest holding. As of the end of the last quarter, their stake in Broadcom was valued at around $1,552,000.

Several other institutional investors have also adjusted their positions in Broadcom. Vanguard Group Inc. increased its holdings by 3.0% in the first quarter, now owning 44,651,273 shares worth approximately $59.18 billion after acquiring an additional 1,303,462 shares. Similarly, Swedbank AB dramatically raised its position by 858.7% in the third quarter, amassing 18,369,841 shares valued at $3.17 billion after purchasing an additional 16,453,718 shares. Van ECK Associates Corp reported a staggering 917.8% increase, with ownership of 12,701,500 shares now valued at $2.20 billion. Raymond James & Associates also made substantial gains, increasing its stake by 855.4% to 12,674,158 shares, worth approximately $2.19 billion. National Pension Service boosted its position by 1,045.4%, owning 8,273,157 shares valued at around $1.43 billion. In total, hedge funds and institutional investors control about 76.43% of Broadcom's stock.

Broadcom Stock Statistics

The stock price of Broadcom opened at $183.64 recently. The company maintains a debt-to-equity ratio of 1.02, a current ratio of 1.04, and a quick ratio of 0.94. Broadcom's share prices have ranged from a 12-month low of $90.31 to a high of $186.42. The fifty-day moving average is approximately $170.75, while the 200-day moving average is around $157.78. Broadcom has a market capitalization of $857.71 billion, a price-to-earnings ratio of 159.55, and a price-to-earnings growth ratio of 2.11, with a beta of 1.17.

Recent Earnings and Dividends

Broadcom recently announced its earnings results for the quarter ending September 5. The semiconductor manufacturer reported earnings of $1.24 per share, surpassing analysts' estimates of $1.20 by $0.04. The company achieved a net margin of 10.88% and a return on equity of 30.12%. Revenue for the quarter reached $13.07 billion, compared to the consensus estimate of $12.98 billion, marking a 47.3% increase from the same quarter last year. Analysts anticipate that Broadcom will post an earnings per share (EPS) of 3.78 for the current fiscal year.

Additionally, the company declared a quarterly dividend that was disbursed on September 30. Shareholders who were on record as of September 19 received a dividend payment of $0.53. This amounts to an annualized dividend of $2.12, reflecting a yield of 1.15%. This increase follows the previous quarterly dividend of $0.53. The ex-dividend date was also September 19, with a dividend payout ratio of 184.19%.

Analysts' Insights

Broadcom has attracted considerable attention from analysts recently. Oppenheimer lowered their price target from $2,000.00 to $200.00 while maintaining an “outperform” rating. William Blair started coverage on Broadcom, also recommending an “outperform” rating. Benchmark reiterated a “buy” rating with a target price of $210.00. StockNews.com changed its rating from a “buy” to a “hold,” while Rosenblatt Securities cut its price target from $2,400.00 to $240.00, still recommending a “buy.” Overall, Broadcom currently holds a consensus rating of “Moderate Buy” among analysts, with a target price averaging $192.79.

Insider Transactions

In recent insider activity, Director Gayla J. Delly sold 750 shares on September 25 at an average price of $174.53, totaling approximately $130,897.50. Following this transaction, she holds 34,750 shares valued at $6,064,917.50. CEO Hock E. Tan also sold 50,000 shares on September 17 at an average price of $163.37, representing a total value of $8,168,500, and still owns about 1,331,910 shares worth roughly $217,594,137. Over the past three months, insiders have sold 311,080 shares, valued at $53,540,590, indicating that insiders own about 2.00% of the company's stock.

About Broadcom

Broadcom Inc. specializes in the design, development, and supply of various semiconductor devices, focusing primarily on complex digital and mixed signal complementary metal oxide semiconductor-based devices and analog III-V products. The company operates through two main segments: Semiconductor Solutions and Infrastructure Software.

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