Toronto Dominion Bank Purchase 199,734 Shares of Broadcom Ltd (AVGO)

Toronto Dominion Bank Purchase 199,734 Shares of Broadcom Ltd (AVGO)

Toronto Dominion Bank increased its stake in Broadcom Ltd (NASDAQ:AVGO) by 291.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 268,235 shares of the semiconductor manufacturer’s stock after buying an additional 199,734 shares during the period. Toronto Dominion Bank’s holdings in Broadcom were worth $58,725,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AVGO. Swedbank bought a new stake in shares of Broadcom during the third quarter valued at about $100,658,000. Cobiz Wealth LLC bought a new stake in shares of Broadcom during the fourth quarter valued at about $3,805,000. Main Street Research LLC boosted its stake in shares of Broadcom by 13.5% in the fourth quarter. Main Street Research LLC now owns 50,616 shares of the semiconductor manufacturer’s stock valued at $8,947,000 after buying an additional 6,002 shares in the last quarter. ZWJ Investment Counsel Inc. boosted its stake in shares of Broadcom by 3.5% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 96,740 shares of the semiconductor manufacturer’s stock valued at $17,100,000 after buying an additional 3,278 shares in the last quarter. Finally, Confluence Wealth Management LLC boosted its stake in shares of Broadcom by 1.1% in the fourth quarter. Confluence Wealth Management LLC now owns 5,647 shares of the semiconductor manufacturer’s stock valued at $998,000 after buying an additional 59 shares in the last quarter. Institutional investors own 91.85% of the company’s stock.

Broadcom Ltd (AVGO) traded down 0.53% during midday trading on Tuesday, reaching $239.93. 785,780 shares of the company’s stock traded hands. The company’s market capitalization is $96.30 billion. Broadcom Ltd has a 1-year low of $142.27 and a 1-year high of $241.60. The firm’s 50-day moving average is $226.10 and its 200-day moving average is $202.84.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Wednesday, March 1st. The semiconductor manufacturer reported $3.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.02 by $0.61. Broadcom had a negative net margin of 13.13% and a positive return on equity of 22.77%. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same period last year, the business earned $2.41 earnings per share. Broadcom’s revenue was up 132.8% compared to the same quarter last year. Analysts forecast that Broadcom Ltd will post $14.89 earnings per share for the current year.

AVGO has been the topic of several research reports. Vetr upgraded shares of Broadcom from a “sell” rating to a “hold” rating and set a $195.55 target price on the stock in a report on Tuesday, January 31st. Susquehanna Bancshares Inc restated a “positive” rating on shares of Broadcom in a report on Monday, February 6th. Royal Bank of Canada raised their target price on shares of Broadcom from $200.00 to $225.00 and gave the stock a “top pick” rating in a report on Wednesday, February 8th. Zacks Investment Research cut shares of Broadcom from a “strong-buy” rating to a “sell” rating in a report on Wednesday, February 8th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $230.00 target price on shares of Broadcom in a report on Friday, February 17th. Three investment analysts have rated the stock with a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $232.45.

In other Broadcom news, SVP Bryan Ingram sold 13,207 shares of Broadcom stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $220.00, for a total transaction of $2,905,540.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Hock E. Tan sold 65,000 shares of Broadcom stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $216.79, for a total transaction of $14,091,350.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 283,946 shares of company stock valued at $63,066,891. Company insiders own 6.20% of the company’s stock.

About Broadcom

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AVGO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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