Broadcom Inc. (NASDAQ:AVGO) is Cardano Risk Management B.V.'s 8th Largest Position

Cardano Risk Management B.V. grew its holdings in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 931.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,149,742 shares of the semiconductor manufacturer's stock after purchasing an additional 1,038,223 shares during the period. Broadcom makes up approximately 3.5% of Cardano Risk Management B.V.'s holdings, making the stock its 8th largest position. Cardano Risk Management B.V.'s holdings in Broadcom were worth $198,330,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in AVGO. Castleview Partners LLC grew its stake in Broadcom by 1,030.8% in the 3rd quarter. Castleview Partners LLC now owns 147 shares of the semiconductor manufacturer's stock worth $25,000 after acquiring an additional 134 shares in the last quarter. Tsfg LLC boosted its position in Broadcom by 1,073.7% during the third quarter. Tsfg LLC now owns 223 shares of the semiconductor manufacturer's stock worth $38,000 after acquiring an additional 204 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in Broadcom during the third quarter worth about $42,000. Highline Wealth Partners LLC acquired a new position in shares of Broadcom in the third quarter valued at approximately $45,000. Finally, AlphaCentric Advisors LLC grew its holdings in Broadcom by 859.3% during the 3rd quarter. AlphaCentric Advisors LLC now owns 259 shares of the semiconductor manufacturer's stock worth $45,000 after acquiring an additional 232 shares in the last quarter. 76.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on AVGO shares. UBS Group raised their price objective on shares of Broadcom from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Truist Financial lifted their price target on shares of Broadcom from $204.00 to $205.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Mizuho boosted their target price on shares of Broadcom from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, October 14th. StockNews.com cut shares of Broadcom from a "buy" rating to a "hold" rating in a research report on Tuesday, July 23rd. Finally, Rosenblatt Securities reduced their target price on shares of Broadcom from $2,400.00 to $240.00 and set a "buy" rating on the stock in a research report on Friday, September 6th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Broadcom has an average rating of "Moderate Buy" and a consensus target price of $192.79.

Broadcom Price Performance

Shares of AVGO traded down $1.87 during midday trading on Wednesday, reaching $163.48. The stock had a trading volume of 10,918,586 shares, compared to its average volume of 29,340,324. The company's 50-day moving average is $173.68 and its 200 day moving average is $159.82. The company has a market capitalization of $763.55 billion, a price-to-earnings ratio of 141.31, a price-to-earnings-growth ratio of 1.94 and a beta of 1.17. The company has a current ratio of 1.04, a quick ratio of 0.94 and a debt-to-equity ratio of 1.02. Broadcom Inc. has a 12-month low of $90.31 and a 12-month high of $186.42.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its earnings results on Thursday, September 5th. The semiconductor manufacturer reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. The business had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.98 billion. Broadcom had a return on equity of 30.12% and a net margin of 10.88%. The company's revenue was up 47.3% compared to the same quarter last year. During the same period last year, the business posted $0.95 EPS. On average, equities analysts predict that Broadcom Inc. will post 3.78 EPS for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Thursday, September 19th were given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Thursday, September 19th. This is a positive change from Broadcom's previous quarterly dividend of $0.53. Broadcom's payout ratio is 184.35%.

Insider Activity at Broadcom

In other Broadcom news, insider Mark David Brazeal sold 20,280 shares of the company's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $177.10, for a total value of $3,591,588.00. Following the sale, the insider now directly owns 399,460 shares of the company's stock, valued at approximately $70,744,366. This represents a 4.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charlie B. Kawwas sold 25,200 shares of the company's stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $168.27, for a total transaction of $4,240,404.00. Following the completion of the sale, the insider now directly owns 753,280 shares in the company, valued at approximately $126,754,425.60. The trade was a 3.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 311,080 shares of company stock worth $53,540,590. Company insiders own 2.00% of the company's stock.

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.