Toronto Dominion Bank Acquires 1,627,373 Shares of Broadcom Inc. (NASDAQ:AVGO)

Toronto Dominion Bank boosted its stake in Broadcom Inc. (NASDAQ:AVGO) by 722.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,852,749 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,627,373 shares during the quarter. Broadcom comprises approximately 0.6% of Toronto Dominion Bank’s portfolio, making the stock its 29th biggest holding. Toronto Dominion Bank’s holdings in Broadcom were worth $319,599,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AVGO. Castleview Partners LLC boosted its stake in Broadcom by 1,030.8% in the third quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 134 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its stake in shares of Broadcom by 900.0% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 150 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 135 shares in the last quarter. JDM Financial Group LLC grew its holdings in shares of Broadcom by 1,323.1% during the 3rd quarter. JDM Financial Group LLC now owns 185 shares of the semiconductor manufacturer’s stock valued at $32,000 after purchasing an additional 172 shares during the last quarter. Tsfg LLC raised its position in Broadcom by 1,073.7% in the 3rd quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer’s stock worth $38,000 after purchasing an additional 204 shares during the period. Finally, Cedar Wealth Management LLC lifted its stake in Broadcom by 900.0% in the third quarter. Cedar Wealth Management LLC now owns 240 shares of the semiconductor manufacturer’s stock worth $41,000 after purchasing an additional 216 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AVGO. Rosenblatt Securities dropped their target price on Broadcom from $2,400.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 6th. Citigroup lifted their target price on shares of Broadcom from $175.00 to $205.00 and gave the stock a “buy” rating in a research note on Tuesday. Benchmark reiterated a “buy” rating and set a $210.00 price target on shares of Broadcom in a report on Friday, September 6th. JPMorgan Chase & Co. raised their price target on shares of Broadcom from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Friday, September 6th. Finally, TD Cowen raised shares of Broadcom to a “strong-buy” rating in a research note on Monday, September 16th. Three research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.09.

Broadcom Stock Down 4.0 %

Shares of NASDAQ:AVGO opened at $171.81 on Wednesday. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. The stock has a fifty day simple moving average of $173.14 and a two-hundred day simple moving average of $163.05. Broadcom Inc. has a 12-month low of $95.61 and a 12-month high of $186.42. The stock has a market capitalization of $802.45 billion, a price-to-earnings ratio of 149.40, a PEG ratio of 2.11 and a beta of 1.13.

Insider Transactions at Broadcom

In related news, insider Charlie B. Kawwas sold 15,950 shares of the company’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $181.44, for a total value of $2,893,968.00. Following the transaction, the insider now directly owns 737,330 shares of the company’s stock, valued at approximately $133,781,155.20. This represents a 2.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Gayla J. Delly sold 750 shares of Broadcom stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $174.53, for a total value of $130,897.50. Following the completion of the sale, the director now directly owns 34,750 shares of the company’s stock, valued at approximately $6,064,917.50. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 311,080 shares of company stock valued at $53,540,590 in the last quarter. 2.00% of the stock is owned by insiders.

Broadcom Company 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.