Broadcom Inc. $AVGO Holdings Decreased by Jennison Associates LLC

Key Points

• Jennison Associates LLC reduced its Broadcom stake by 1.7% in Q4, selling 375,406 shares and now holds 21,892,210 shares — roughly 4.5% of Jennison’s portfolio and 0.46% of Broadcom, valued at about $7.58 billion.
• Large institutions largely added to positions (Vanguard, Invesco, Legal & General, Franklin, Amundi), leaving institutional ownership at about 76.43%, but insiders sold 324,282 shares last quarter, a factor that can add short-term headline pressure.
• Heading into the week Broadcom has mixed momentum: analysts have raised targets and the consensus is a Moderate Buy (avg. target $435.30), yet the stock was pressured by reports that its ~$18 billion OpenAI custom chip deal hit a major financing snag.

Jennison Associates LLC reduced its position in Broadcom Inc. (NASDAQ:AVGO - Free Report) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,892,210 shares of the semiconductor manufacturer's stock after selling 375,406 shares during the quarter. Broadcom comprises about 4.5% of Jennison Associates LLC's investment portfolio, making the stock its 5th biggest position. Jennison Associates LLC owned 0.46% of Broadcom worth $7,576,894,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Broadcom by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 482,707,302 shares of the semiconductor manufacturer's stock worth $167,064,997,000 after buying an additional 3,919,715 shares during the period. Invesco Ltd. increased its holdings in Broadcom by 1.8% in the 3rd quarter. Invesco Ltd. now owns 39,149,651 shares of the semiconductor manufacturer's stock valued at $12,915,861,000 after purchasing an additional 700,021 shares in the last quarter. Legal & General Group Plc increased its holdings in Broadcom by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 33,450,786 shares of the semiconductor manufacturer's stock valued at $11,035,749,000 after purchasing an additional 748,709 shares in the last quarter. Franklin Resources Inc. increased its holdings in Broadcom by 4.0% in the 3rd quarter. Franklin Resources Inc. now owns 29,511,195 shares of the semiconductor manufacturer's stock valued at $9,736,038,000 after purchasing an additional 1,124,590 shares in the last quarter. Finally, Amundi grew its stake in shares of Broadcom by 3.3% during the third quarter. Amundi now owns 22,216,816 shares of the semiconductor manufacturer's stock valued at $7,453,320,000 after acquiring an additional 716,523 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

Key Broadcom News

Here are the key news stories impacting Broadcom this week:

• Positive Sentiment: Fisher Asset Management materially increased its Broadcom stake, signaling institutional confidence and providing a demand floor for the stock. Fisher Asset Management boosts Broadcom stake by 847,157 shares
• Positive Sentiment: Analyst and press coverage emphasize Broadcom’s expanding role in AI infrastructure and strong AI revenue guidance, supporting a constructive medium-term earnings outlook. How Broadcom Redefines The AI Infrastructure Play
• Positive Sentiment: Broadcom’s VMware-by-Broadcom services are gaining public‑sector distribution via a Carahsoft/evoila partnership, expanding government channel reach and recurring-services revenue potential. evoila U.S. and Carahsoft Partner to Deliver VMware by Broadcom
• Neutral Sentiment: Corning’s large optical-fiber contracts (including with Broadcom) validate continued hyperscale capex on connectivity — good for long-term TAM but not an immediate earnings swing for Broadcom. Light Speed Returns: Corning Cashes In on NVIDIA Growth (AVGO)
• Neutral Sentiment: Broadcom remains a trending/dividend-growth name in several retail and income-focused write-ups; these can support longer-term flows but are unlikely to reverse a short-term selloff. Here is What to Know Beyond Why Broadcom Inc. (AVGO) is a Trending Stock
• Negative Sentiment: The primary near-term negative: a report that Broadcom’s ~$18B custom chip deal with OpenAI has hit a major financing snag, which directly pressured the stock and raised execution/timing concerns for a core AI revenue stream. Broadcom Stock (AVGO) Slides after $18B OpenAI Custom Chip Deal Hits Major Financing Snag
• Negative Sentiment: A recent political disclosure shows a sale of AVGO shares by Senator Shelley Moore Capito; while single disclosures are often routine, they can add to short-term headline pressure. Congress Trade: Senator Shelley Moore Capito Just Disclosed New Stock Trades

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Citigroup raised their target price on Broadcom from $458.00 to $475.00 and gave the company a "buy" rating in a research note on Thursday, March 5th. Truist Financial raised their target price on shares of Broadcom from $510.00 to $545.00 and gave the stock a "buy" rating in a report on Thursday, March 5th. Zacks Research raised shares of Broadcom from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 2nd. DA Davidson raised Broadcom to a "hold" rating in a report on Friday, February 13th. Finally, Seaport Research Partners reaffirmed a "neutral" rating on shares of Broadcom in a report on Wednesday, April 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $435.30.

Insider Activity

In other Broadcom news, CFO Kirsten M. Spears sold 36,292 shares of Broadcom stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $11,671,507.20. Following the completion of the sale, the chief financial officer owned 327,760 shares of the company's stock, valued at $105,407,616. This trade represents a 9.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark David Brazeal sold 50,488 shares of Broadcom stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $321.60, for a total transaction of $16,236,940.80. Following the sale, the insider directly owned 278,141 shares of the company's stock, valued at $89,450,145.60. This trade represents a 15.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 324,282 shares of company stock valued at $106,425,249. 1.90% of the stock is currently owned by company insiders.

Broadcom Trading Down 3.0%

Broadcom stock opened at $412.56 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90. The firm has a market cap of $1.95 trillion, a price-to-earnings ratio of 80.58, a price-to-earnings-growth ratio of 0.88 and a beta of 1.43. Broadcom Inc. has a 1 year low of $203.69 and a 1 year high of $437.68. The firm's 50 day moving average price is $352.89 and its two-hundred day moving average price is $351.28.

Broadcom (NASDAQ:AVGO - Get Free Report) last posted its quarterly earnings results on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The firm had revenue of $19.31 billion for the quarter, compared to analyst estimates of $19.10 billion. During the same quarter in the previous year, the business posted $1.60 earnings per share. The firm's quarterly revenue was up 29.5% compared to the same quarter last year. On average, research analysts predict that Broadcom Inc. will post 9.95 EPS for the current fiscal year.

Broadcom Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Monday, March 23rd were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.6%. The ex-dividend date was Monday, March 23rd. Broadcom's payout ratio is presently 50.78%.

About Broadcom

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.

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.