Annex Advisory Services LLC Has $58.16 Million Stake in Broadcom Inc. $AVGO

Key Points

• Annex Advisory Services LLC increased its stake in Broadcom Inc. by 29.2% during Q2, holding 210,989 shares valued at approximately $58.16 million.
• Several institutional investors have also raised their stakes in Broadcom, with Vanguard Group Inc. owning about 477.2 million shares valued at nearly $79.9 billion.
• Broadcom's stock recently opened at $338.79 and has exhibited a strong performance, with a quarterly revenue increase of 22% year-over-year.

Annex Advisory Services LLC boosted its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 29.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 210,989 shares of the semiconductor manufacturer's stock after buying an additional 47,741 shares during the period. Broadcom makes up 1.4% of Annex Advisory Services LLC's holdings, making the stock its 20th biggest holding. Annex Advisory Services LLC's holdings in Broadcom were worth $58,159,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Broadcom by 0.4% in the first quarter. Vanguard Group Inc. now owns 477,220,137 shares of the semiconductor manufacturer's stock valued at $79,900,968,000 after buying an additional 2,085,534 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Broadcom by 37.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 65,509,579 shares of the semiconductor manufacturer's stock valued at $10,968,270,000 after purchasing an additional 17,985,046 shares in the last quarter. Nuveen LLC bought a new stake in Broadcom in the first quarter valued at $6,649,117,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Broadcom by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 35,243,467 shares of the semiconductor manufacturer's stock valued at $5,900,814,000 after purchasing an additional 842,088 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Broadcom by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 33,852,310 shares of the semiconductor manufacturer's stock valued at $5,668,134,000 after purchasing an additional 1,043,948 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on AVGO. The Goldman Sachs Group reaffirmed a "buy" rating and issued a $340.00 price target on shares of Broadcom in a research note on Wednesday, August 13th. Evercore ISI reaffirmed an "outperform" rating and issued a $342.00 price target (up from $304.00) on shares of Broadcom in a research note on Thursday, September 4th. Redburn Atlantic began coverage on shares of Broadcom in a research note on Wednesday, May 28th. They issued a "buy" rating and a $301.00 price target for the company. HSBC raised shares of Broadcom from a "hold" rating to a "buy" rating and set a $400.00 price target for the company in a research note on Tuesday, June 24th. Finally, KeyCorp lifted their price target on shares of Broadcom from $330.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $356.48.

Broadcom Stock Down 1.8%

AVGO opened at $338.79 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 1.50 and a debt-to-equity ratio of 0.86. The stock has a market cap of $1.60 trillion, a price-to-earnings ratio of 86.43, a PEG ratio of 1.91 and a beta of 1.16. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $374.23. The company's 50-day moving average price is $309.32 and its two-hundred day moving average price is $249.20.

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

Broadcom Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, September 22nd. Broadcom's payout ratio is presently 60.20%.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 3,893 shares of the company's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $347.82, for a total transaction 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. This represents a 13.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Hock E. Tan sold 148,154 shares of the company's stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $336.67, for a total transaction of $49,879,007.18. Following the sale, the chief executive officer owned 825,998 shares in the company, valued at $278,088,746.66. The trade was a 15.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders bought 3,550 shares of company stock valued at $1,227,869 and sold 714,172 shares valued at $204,311,160. Insiders own 2.00% of the company's stock.

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.

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