Winslow Capital Management LLC Has $1.35 Billion Position in Broadcom Inc. $AVGO

Winslow Capital Management LLC cut its position in Broadcom Inc. (NASDAQ:AVGO) by 15.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,904,712 shares of the semiconductor manufacturer’s stock after selling 909,526 shares during the quarter. Broadcom comprises about 4.5% of Winslow Capital Management LLC’s holdings, making the stock its 6th largest position. Winslow Capital Management LLC’s holdings in Broadcom were worth $1,351,984,000 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. bLong Financial LLC increased its holdings in Broadcom by 0.5% in the 2nd quarter. bLong Financial LLC now owns 9,142 shares of the semiconductor manufacturer’s stock worth $2,520,000 after acquiring an additional 50 shares during the last quarter. WINTON GROUP Ltd bought a new position in Broadcom during the second quarter worth about $2,916,000. Howard Hughes Medical Institute bought a new position in Broadcom during the second quarter worth about $279,000. Ossiam increased its stake in shares of Broadcom by 1,780.0% in the second quarter. Ossiam now owns 1,496,783 shares of the semiconductor manufacturer’s stock worth $412,588,000 after purchasing an additional 1,417,169 shares in the last quarter. Finally, Baker Avenue Asset Management LP raised its position in shares of Broadcom by 112.7% in the second quarter. Baker Avenue Asset Management LP now owns 58,798 shares of the semiconductor manufacturer’s stock valued at $16,208,000 after purchasing an additional 31,157 shares during the period. Institutional investors own 76.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Wall Street Zen downgraded shares of Broadcom from a “buy” rating to a “hold” rating in a report on Sunday, November 23rd. Deutsche Bank Aktiengesellschaft set a $400.00 price target on Broadcom and gave the stock a “buy” rating in a report on Tuesday, October 14th. Macquarie assumed coverage on Broadcom in a research note on Monday, September 15th. They set an “outperform” rating and a $420.00 price objective on the stock. Truist Financial increased their price objective on Broadcom from $295.00 to $365.00 and gave the stock a “buy” rating in a report on Friday, September 5th. Finally, UBS Group reaffirmed a “buy” rating and set a $472.00 target price (up previously from $415.00) on shares of Broadcom in a report on Monday, December 1st. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Broadcom currently has an average rating of “Buy” and an average price target of $391.04.

Broadcom Stock Performance

NASDAQ:AVGO opened at $390.24 on Monday. The stock has a market cap of $1.84 trillion, a P/E ratio of 99.55, a PEG ratio of 1.33 and a beta of 1.19. 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 business’s 50-day moving average price is $356.79 and its two-hundred day moving average price is $312.70. Broadcom Inc. has a twelve month low of $138.10 and a twelve month high of $403.00.

Broadcom (NASDAQ:AVGO) last announced its earnings results on Thursday, September 4th. The semiconductor manufacturer reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.66 by $0.03. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. Broadcom’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.24 earnings per share. As a group, equities analysts predict that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Broadcom news, insider Charlie B. Kawwas sold 3,893 shares of the firm’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.82, for a total transaction of $1,354,063.26. Following the sale, the insider owned 25,295 shares in the company, valued at $8,798,106.90. This trade represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Kirsten M. Spears sold 7,498 shares of Broadcom stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $347.66, for a total value of $2,606,754.68. Following the sale, the chief financial officer directly owned 313,330 shares of the company’s stock, valued at approximately $108,932,307.80. This trade represents a 2.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 665,271 shares of company stock valued at $225,483,192 in the last three months. 2.00% of the stock is owned by corporate insiders.

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.