Toronto Dominion Bank reduced its position in Broadcom Inc (NASDAQ:AVGO) by 7.8% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 200,251 shares of the semiconductor manufacturer’s stock after selling 16,839 shares during the period. Toronto Dominion Bank’s holdings in Broadcom were worth $63,205,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of AVGO. Public Employees Retirement Association of Colorado boosted its holdings in shares of Broadcom by 4.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 75,097 shares of the semiconductor manufacturer’s stock worth $17,805,000 after buying an additional 2,941 shares during the period. First Manhattan Co. increased its stake in shares of Broadcom by 10.2% during the first quarter. First Manhattan Co. now owns 759 shares of the semiconductor manufacturer’s stock worth $179,000 after purchasing an additional 70 shares during the period. Dynamic Advisor Solutions LLC increased its stake in shares of Broadcom by 50.5% during the first quarter. Dynamic Advisor Solutions LLC now owns 2,619 shares of the semiconductor manufacturer’s stock worth $621,000 after purchasing an additional 879 shares during the period. Transcend Wealth Collective LLC lifted its holdings in Broadcom by 5.3% during the 1st quarter. Transcend Wealth Collective LLC now owns 2,257 shares of the semiconductor manufacturer’s stock worth $541,000 after purchasing an additional 114 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Broadcom by 27.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 45,594 shares of the semiconductor manufacturer’s stock valued at $10,810,000 after acquiring an additional 9,715 shares during the period. Institutional investors and hedge funds own 81.82% of the company’s stock.

A number of research firms have commented on AVGO. Deutsche Bank raised their price objective on Broadcom from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Friday, September 4th. Morgan Stanley raised their target price on Broadcom from $358.00 to $415.00 and gave the company an “overweight” rating in a report on Friday, September 4th. Royal Bank of Canada boosted their price target on Broadcom from $340.00 to $400.00 and gave the stock an “outperform” rating in a report on Thursday, September 3rd. Piper Sandler raised their price objective on Broadcom from $360.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, September 4th. Finally, JPMorgan Chase & Co. boosted their target price on Broadcom from $365.00 to $420.00 and gave the stock an “overweight” rating in a research note on Friday, September 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $381.84.

In related news, SVP Charlie B. Kawwas sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $309.20, for a total transaction of $1,546,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 57,171 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $308.49, for a total transaction of $17,636,681.79. The disclosure for this sale can be found here. In the last quarter, insiders sold 700,903 shares of company stock worth $228,410,376. 3.00% of the stock is owned by company insiders.

Shares of NASDAQ AVGO traded up $1.09 during trading on Wednesday, hitting $368.00. The stock had a trading volume of 89,777 shares, compared to its average volume of 2,020,637. The company has a debt-to-equity ratio of 1.83, a current ratio of 2.04 and a quick ratio of 1.88. The firm has a fifty day moving average of $337.09 and a two-hundred day moving average of $291.25. Broadcom Inc has a 12 month low of $155.67 and a 12 month high of $378.96. The company has a market capitalization of $148.42 billion, a PE ratio of 69.47, a PEG ratio of 1.58 and a beta of 0.93.

Broadcom (NASDAQ:AVGO) last released its earnings results on Thursday, September 3rd. The semiconductor manufacturer reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.24 by $0.16. Broadcom had a return on equity of 32.44% and a net margin of 10.70%. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.76 billion. During the same period in the prior year, the company posted $5.16 earnings per share. Broadcom’s quarterly revenue was up 5.5% on a year-over-year basis. On average, equities analysts expect that Broadcom Inc will post 18.15 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 22nd will be issued a $3.25 dividend. This represents a $13.00 dividend on an annualized basis and a dividend yield of 3.53%. The ex-dividend date is Monday, September 21st. Broadcom’s dividend payout ratio (DPR) is currently 74.67%.

Broadcom Profile

Broadcom Inc designs, develops, and supplies a range of 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 through four segments: Wired Infrastructure, Wireless Communications, Enterprise Storage, and Industrial & Other.

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Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

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