Broadcom Inc. $AVGO is Jennison Associates LLC’s 7th Largest Position

Jennison Associates LLC lowered its position in Broadcom Inc. (NASDAQ:AVGO) by 13.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,240,649 shares of the semiconductor manufacturer’s stock after selling 3,519,558 shares during the period. Broadcom comprises about 3.8% of Jennison Associates LLC’s portfolio, making the stock its 7th largest position. Jennison Associates LLC’s holdings in Broadcom were worth $6,406,285,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cheviot Value Management LLC purchased a new stake in shares of Broadcom in the first quarter valued at about $25,000. Sawyer & Company Inc raised its holdings in shares of Broadcom by 62.1% in the second quarter. Sawyer & Company Inc now owns 94 shares of the semiconductor manufacturer’s stock valued at $26,000 after purchasing an additional 36 shares during the last quarter. Legend Financial Advisors Inc. purchased a new stake in shares of Broadcom in the second quarter valued at about $28,000. Wood Tarver Financial Group LLC raised its holdings in shares of Broadcom by 342.5% in the first quarter. Wood Tarver Financial Group LLC now owns 177 shares of the semiconductor manufacturer’s stock valued at $30,000 after purchasing an additional 137 shares during the last quarter. Finally, LGT Financial Advisors LLC purchased a new stake in shares of Broadcom in the second quarter valued at about $31,000. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Charlie B. Kawwas sold 3,893 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total value of $1,354,063.26. Following the sale, the insider directly owned 25,295 shares in the company, valued at approximately $8,798,106.90. The trade was a 13.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Justine Page sold 800 shares of the business’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $350.15, for a total value of $280,120.00. Following the completion of the sale, the director owned 22,182 shares in the company, valued at $7,767,027.30. This represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders purchased 3,550 shares of company stock worth $1,227,869 and sold 665,271 shares worth $225,464,248. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AVGO. Benchmark boosted their price target on shares of Broadcom from $315.00 to $385.00 and gave the stock a “buy” rating in a report on Friday, September 5th. UBS Group set a $415.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a report on Tuesday, October 14th. Bank of America raised their price objective on shares of Broadcom from $300.00 to $400.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Piper Sandler raised their price objective on shares of Broadcom from $315.00 to $375.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. Finally, Deutsche Bank Aktiengesellschaft set a $400.00 price objective on shares of Broadcom and gave the stock a “buy” rating in a report on Tuesday, October 14th. Three analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $372.52.

Broadcom Trading Down 1.8%

Shares of Broadcom stock opened at $369.63 on Monday. Broadcom Inc. has a 52-week low of $138.10 and a 52-week high of $386.48. The stock’s 50-day simple moving average is $339.31 and its 200 day simple moving average is $284.12. The stock has a market capitalization of $1.75 trillion, a P/E ratio of 94.29, a P/E/G ratio of 2.08 and a beta of 1.19. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.37 and a current ratio of 1.50.

Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.66 by $0.03. Broadcom had a return on equity of 36.60% and a net margin of 31.59%.The business had revenue of $15.95 billion for the quarter, compared to analysts’ expectations of $15.82 billion. During the same period in the previous year, the business posted $1.24 EPS. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, research analysts anticipate that Broadcom Inc. will post 5.38 EPS for the current year.

Broadcom Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, September 22nd. Broadcom’s payout ratio is currently 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.