Jennison Associates LLC Buys 890,882 Shares of Broadcom Inc. $AVGO

Jennison Associates LLC lifted its stake in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,783,092 shares of the semiconductor manufacturer’s stock after purchasing an additional 890,882 shares during the quarter. Broadcom comprises 4.8% of Jennison Associates LLC’s investment portfolio, making the stock its 4th biggest holding. Jennison Associates LLC owned about 0.48% of Broadcom worth $7,051,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. ROSS JOHNSON & Associates LLC boosted its holdings in Broadcom by 1,320.0% in the fourth quarter. ROSS JOHNSON & Associates LLC now owns 71 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 66 shares in the last quarter. Networth Advisors LLC grew its stake in Broadcom by 546.2% in the first quarter. Networth Advisors LLC now owns 84 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 71 shares during the period. SWAN Capital LLC increased its holdings in shares of Broadcom by 261.9% during the fourth quarter. SWAN Capital LLC now owns 76 shares of the semiconductor manufacturer’s stock valued at $26,000 after acquiring an additional 55 shares in the last quarter. Nvest Wealth Strategies Inc. acquired a new position in shares of Broadcom during the fourth quarter worth approximately $33,000. Finally, Family CFO Inc acquired a new position in shares of Broadcom during the fourth quarter worth approximately $35,000. 76.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Gayla J. Delly sold 1,890 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $385.38, for a total transaction of $728,368.20. Following the transaction, the director directly owned 31,326 shares in the company, valued at approximately $12,072,413.88. The trade was a 5.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Justine Page sold 1,602 shares of the company’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $373.86, for a total transaction of $598,923.72. Following the completion of the sale, the director directly owned 17,426 shares of the company’s stock, valued at $6,514,884.36. The trade was a 8.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 61,644 shares of company stock worth $24,016,214. Company insiders own 1.90% of the company’s stock.

Broadcom News Roundup

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: UBS said the recent momentum unwind in semiconductors may be nearing its end, which could allow investors to rebuild positions in names like Broadcom as forced selling eases. UBS sees Broadcom, Sandisk, Oracle stocks rebounding: here’s why
• Positive Sentiment: Analysts highlighted Broadcom’s VMware Cloud Foundation momentum, saying the software platform is becoming a larger growth engine as enterprises move private clouds and AI workloads to virtualized environments. VCF is Becoming Broadcom’s Growth Engine: More Upside Ahead?
• Positive Sentiment: Broadcom benefited from a broader semiconductor rebound, with chip stocks rising as investors bought the dip after the recent selloff and AI-related volatility. 5 Things to Know Before the Stock Market Opens on Tuesday
• Positive Sentiment: Morgan Stanley continued to frame Broadcom as one of the more attractive AI infrastructure names, citing strong cash generation and favorable risk-reward after the sector pullback. Broadcom stock gains 2% today: here’s why
• Neutral Sentiment: Broadcom also got a boost from a new Standard Chartered deal to power banking cloud modernization across 54 markets, reinforcing the value of its VMware-based infrastructure software. Broadcom (AVGO) Lands Standard Chartered Deal To Power Banking Cloud In 54 Markets
• Negative Sentiment: Sentiment remains somewhat pressured by an ITC investigation tied to Netlist’s patent complaint, which pulled Broadcom into broader regulatory noise around Samsung memory products and customers. Is Broadcom (AVGO) Still Undervalued As Netlist Patent Claims Test Sentiment?
• Negative Sentiment: Some headlines also noted that an AI-focused trading model sold Broadcom after its expected return profile weakened, reflecting lingering caution after the recent tech selloff. Claude AI Sells Broadcom (AVGO) Stock

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Mizuho increased their target price on Broadcom from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, June 4th. Morgan Stanley set a $502.00 price objective on shares of Broadcom and gave the stock an “overweight” rating in a report on Thursday, June 4th. Erste Group Bank reaffirmed a “hold” rating on shares of Broadcom in a research note on Tuesday, July 7th. Oppenheimer reiterated an “outperform” rating and set a $535.00 price objective (up from $450.00) on shares of Broadcom in a report on Thursday, June 4th. Finally, UBS Group set a $485.00 price objective on shares of Broadcom and gave the company a “buy” rating in a report on Thursday, June 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Broadcom currently has an average rating of “Moderate Buy” and a consensus target price of $493.24.

Broadcom Stock Up 2.2%

Shares of NASDAQ:AVGO opened at $386.50 on Wednesday. The stock has a market cap of $1.84 trillion, a price-to-earnings ratio of 64.42, a PEG ratio of 0.66 and a beta of 1.45. The company has a quick ratio of 2.01, a current ratio of 2.24 and a debt-to-equity ratio of 0.71. Broadcom Inc. has a 12-month low of $273.00 and a 12-month high of $495.00. The business’s 50 day moving average is $399.63 and its 200 day moving average is $365.90.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings results on Wednesday, June 3rd. The semiconductor manufacturer reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.40 by $0.04. Broadcom had a return on equity of 41.61% and a net margin of 38.85%.The business had revenue of $22.19 billion during the quarter, compared to analyst estimates of $22.13 billion. During the same period in the prior year, the firm posted $1.58 EPS. Broadcom’s quarterly revenue was up 47.9% compared to the same quarter last year. On average, sell-side analysts forecast that Broadcom Inc. will post 10.24 earnings per share for the current fiscal year.

Broadcom Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a $0.65 dividend. The ex-dividend date was Monday, June 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.7%. Broadcom’s dividend payout ratio is presently 43.33%.

Broadcom 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.