TD Asset Management Inc. Sells 30,245 Shares of Broadcom Inc (NASDAQ:AVGO)

TD Asset Management Inc. cut its position in shares of Broadcom Inc (NASDAQ:AVGO) by 4.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 607,521 shares of the semiconductor manufacturer’s stock after selling 30,245 shares during the quarter. TD Asset Management Inc. owned approximately 0.15% of Broadcom worth $174,881,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Northern Trust Corp grew its position in Broadcom by 1.3% during the 1st quarter. Northern Trust Corp now owns 4,919,584 shares of the semiconductor manufacturer’s stock worth $1,479,369,000 after acquiring an additional 62,461 shares during the last quarter. Jennison Associates LLC lifted its holdings in Broadcom by 10.9% in the 1st quarter. Jennison Associates LLC now owns 3,650,806 shares of the semiconductor manufacturer’s stock worth $1,097,834,000 after buying an additional 359,736 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Broadcom by 1.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,683,418 shares of the semiconductor manufacturer’s stock worth $506,221,000 after buying an additional 22,458 shares during the period. Amundi Pioneer Asset Management Inc. lifted its holdings in Broadcom by 12.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 1,666,266 shares of the semiconductor manufacturer’s stock worth $501,062,000 after buying an additional 181,372 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Broadcom by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,644,308 shares of the semiconductor manufacturer’s stock worth $418,142,000 after buying an additional 96,233 shares during the period. Hedge funds and other institutional investors own 84.05% of the company’s stock.

NASDAQ:AVGO traded up $8.06 during trading hours on Tuesday, reaching $283.70. 1,908,464 shares of the company traded hands, compared to its average volume of 2,116,628. The firm has a 50-day moving average price of $285.69. The firm has a market capitalization of $109.76 billion, a PE ratio of 15.07, a P/E/G ratio of 1.34 and a beta of 0.92. Broadcom Inc has a 1 year low of $202.77 and a 1 year high of $323.20. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.26 and a quick ratio of 1.13.



Broadcom (NASDAQ:AVGO) last announced its quarterly earnings data on Thursday, June 13th. The semiconductor manufacturer reported $5.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.18 by $0.03. The business had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $5.70 billion. Broadcom had a return on equity of 32.81% and a net margin of 15.92%. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.88 earnings per share. As a group, analysts anticipate that Broadcom Inc will post 17.43 EPS for the current fiscal year.

In other Broadcom news, insider Hock E. Tan sold 20,000 shares of Broadcom stock in a transaction on Monday, July 15th. The stock was sold at an average price of $292.16, for a total value of $5,843,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bryan Ingram sold 11,922 shares of Broadcom stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $278.58, for a total value of $3,321,230.76. The disclosure for this sale can be found here. In the last three months, insiders sold 65,388 shares of company stock valued at $18,198,482. Corporate insiders own 3.30% of the company’s stock.

Several research firms have weighed in on AVGO. Rosenblatt Securities reiterated a “buy” rating and issued a $350.00 price objective on shares of Broadcom in a report on Monday, June 10th. Barclays dropped their price objective on Broadcom from $360.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, June 14th. ValuEngine cut Broadcom from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Robert W. Baird dropped their price objective on Broadcom from $300.00 to $280.00 and set an “outperform” rating for the company in a report on Monday, June 17th. Finally, Jefferies Financial Group dropped their price objective on Broadcom from $370.00 to $324.00 and set a “buy” rating for the company in a report on Friday, June 14th. Nine analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. Broadcom has an average rating of “Buy” and an average price target of $304.32.

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.

Featured Article: What does relative strength index mean?

Institutional Ownership by Quarter for Broadcom (NASDAQ:AVGO)

Receive News & Ratings for Broadcom Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Broadcom and related companies with MarketBeat.com's FREE daily email newsletter.