Toronto Dominion Bank increased its position in shares of Broadcom Inc (NASDAQ:AVGO) by 11.5% in the first quarter, HoldingsChannel reports. The firm owned 269,337 shares of the semiconductor manufacturer’s stock after purchasing an additional 27,682 shares during the period. Toronto Dominion Bank’s holdings in Broadcom were worth $80,971,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Independence Bank of Kentucky acquired a new stake in Broadcom in the 4th quarter valued at about $187,000. Viking Fund Management LLC increased its position in Broadcom by 50.0% in the 4th quarter. Viking Fund Management LLC now owns 9,000 shares of the semiconductor manufacturer’s stock valued at $2,289,000 after acquiring an additional 3,000 shares in the last quarter. Cigna Investments Inc. New increased its position in Broadcom by 9.0% in the 4th quarter. Cigna Investments Inc. New now owns 13,783 shares of the semiconductor manufacturer’s stock valued at $3,505,000 after acquiring an additional 1,134 shares in the last quarter. CHURCHILL MANAGEMENT Corp grew its position in shares of Broadcom by 183.2% during the 4th quarter. CHURCHILL MANAGEMENT Corp now owns 80,057 shares of the semiconductor manufacturer’s stock worth $20,357,000 after buying an additional 51,786 shares during the period. Finally, Cobiz Wealth LLC grew its position in shares of Broadcom by 2.6% during the 4th quarter. Cobiz Wealth LLC now owns 26,674 shares of the semiconductor manufacturer’s stock worth $6,783,000 after buying an additional 665 shares during the period. Hedge funds and other institutional investors own 86.96% of the company’s stock.

Broadcom stock opened at $302.00 on Wednesday. Broadcom Inc has a fifty-two week low of $197.46 and a fifty-two week high of $323.20. The company has a market cap of $116.13 billion, a P/E ratio of 16.04, a PEG ratio of 1.37 and a beta of 0.68. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.14 and a current ratio of 1.27.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 14th. The semiconductor manufacturer reported $5.55 earnings per share for the quarter, topping the consensus estimate of $4.32 by $1.23. Broadcom had a net margin of 30.50% and a return on equity of 30.31%. The business had revenue of $5.79 billion for the quarter, compared to analyst estimates of $5.83 billion. During the same quarter last year, the firm earned $5.12 EPS. Broadcom’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts expect that Broadcom Inc will post 17.65 EPS for the current fiscal year.

In other Broadcom news, SVP Charlie B. Kawwas sold 9,330 shares of Broadcom stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $295.93, for a total value of $2,761,026.90. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $291.27, for a total transaction of $5,825,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 87,824 shares of company stock worth $26,390,919. Insiders own 3.30% of the company’s stock.

Several equities research analysts have recently commented on AVGO shares. DA Davidson lifted their price target on shares of Broadcom to $325.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. MKM Partners lifted their price target on shares of Broadcom to $310.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Zacks Investment Research cut shares of Broadcom from a “hold” rating to a “sell” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. lifted their price target on shares of Broadcom from $325.00 to $365.00 in a research report on Monday, March 18th. Finally, Loop Capital lifted their price target on shares of Broadcom to $315.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-nine have issued a buy rating to the stock. Broadcom has an average rating of “Buy” and a consensus price target of $304.88.

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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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