Winslow Capital Management LLC reduced its position in shares of Broadcom Limited (NASDAQ:AVGO) by 16.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,326,224 shares of the semiconductor manufacturer’s stock after selling 258,644 shares during the period. Broadcom Limited comprises about 1.6% of Winslow Capital Management LLC’s holdings, making the stock its 23rd largest holding. Winslow Capital Management LLC owned about 0.33% of Broadcom Limited worth $309,077,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AVGO. Waldron LP purchased a new position in shares of Broadcom Limited during the first quarter worth $302,000. Engineers Gate Manager LP purchased a new position in shares of Broadcom Limited during the first quarter worth $810,000. First Personal Financial Services boosted its position in shares of Broadcom Limited by 2.5% during the first quarter. First Personal Financial Services now owns 34,559 shares of the semiconductor manufacturer’s stock worth $7,567,000 after buying an additional 842 shares during the period. Commerce Bank boosted its position in shares of Broadcom Limited by 31.5% during the first quarter. Commerce Bank now owns 5,832 shares of the semiconductor manufacturer’s stock worth $1,277,000 after buying an additional 1,396 shares during the period. Finally, CI Investments Inc. boosted its position in shares of Broadcom Limited by 2,539.1% during the first quarter. CI Investments Inc. now owns 182,100 shares of the semiconductor manufacturer’s stock worth $39,873,000 after buying an additional 175,200 shares during the period. Institutional investors and hedge funds own 89.70% of the company’s stock.
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AVGO has been the subject of a number of recent research reports. KeyCorp reiterated an “overweight” rating and issued a $280.00 target price on shares of Broadcom Limited in a report on Wednesday, August 23rd. Rosenblatt Securities reiterated a “buy” rating and issued a $270.00 target price on shares of Broadcom Limited in a report on Wednesday, August 23rd. UBS AG reiterated an “overweight” rating on shares of Broadcom Limited in a report on Thursday, August 24th. Loop Capital reiterated a “buy” rating and issued a $302.00 target price on shares of Broadcom Limited in a report on Friday, August 25th. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $290.00 target price (up from $260.00) on shares of Broadcom Limited in a report on Friday, August 25th. Two equities research analysts have rated the stock with a hold rating, thirty-one have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $276.74.
In related news, SVP Charlie B. Kawwas sold 1,788 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $247.28, for a total transaction of $442,136.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Bryan Ingram sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $244.01, for a total transaction of $7,320,300.00. The disclosure for this sale can be found here. Insiders have sold 51,788 shares of company stock valued at $12,692,037 over the last 90 days. 3.60% of the stock is currently owned by insiders.
Shares of Broadcom Limited (AVGO) traded down 2.63% on Monday, hitting $232.95. The company had a trading volume of 1,777,345 shares. The stock has a market cap of $95.04 billion, a PE ratio of 177.42 and a beta of 1.07. Broadcom Limited has a 12 month low of $160.62 and a 12 month high of $259.36. The company has a 50-day moving average of $249.11 and a 200 day moving average of $236.86.
Broadcom Limited (NASDAQ:AVGO) last posted its quarterly earnings data on Thursday, August 24th. The semiconductor manufacturer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.03 by $0.07. The business had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.46 billion. Broadcom Limited had a net margin of 3.12% and a return on equity of 26.82%. The business’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $2.89 earnings per share. Analysts anticipate that Broadcom Limited will post $15.92 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be issued a dividend of $1.02 per share. This represents a $4.08 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date is Monday, September 18th. Broadcom Limited’s payout ratio is 348.72%.
Broadcom Limited Profile
Broadcom Limited is a designer, developer and global supplier of a range of semiconductor devices with a focus on digital and mixed signal complementary metal oxide semiconductor (CMOS)-based devices and analog III-V based products. The Company operates through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.
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