Scge Management L.P. Has $202.09 Million Stock Position in Broadcom Inc. $AVGO

Key Points

• Scge Management L.P. has increased its position in Broadcom Inc. by 7.8%, owning 1,207,000 shares valued at approximately $202 million.
• Broadcom's recent quarterly earnings exceeded estimates, reporting $1.69 earnings per share and generating revenues of $15.95 billion, reflecting a year-over-year revenue growth of 22%.
• The company announced a quarterly dividend of $0.59 per share, with a yield of 0.7% and a payout ratio of 88.39% as of the upcoming payment date on September 30th.

Scge Management L.P. grew its stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) by 7.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,207,000 shares of the semiconductor manufacturer's stock after buying an additional 87,000 shares during the quarter. Broadcom accounts for approximately 5.8% of Scge Management L.P.'s portfolio, making the stock its 9th largest holding. Scge Management L.P.'s holdings in Broadcom were worth $202,088,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AVGO. Barnes Dennig Private Wealth Management LLC bought a new position in shares of Broadcom during the first quarter valued at about $25,000. Cheviot Value Management LLC bought a new position in shares of Broadcom during the first quarter valued at about $25,000. Inlight Wealth Management LLC bought a new position in shares of Broadcom during the first quarter valued at about $26,000. Sunbeam Capital Management LLC bought a new position in shares of Broadcom during the fourth quarter valued at about $28,000. Finally, Vermillion Wealth Management Inc. bought a new position in shares of Broadcom during the fourth quarter valued at about $30,000. 76.43% of the stock is owned by institutional investors.

Broadcom Stock Up 9.4%

AVGO traded up $28.79 on Friday, hitting $334.89. The company had a trading volume of 78,318,626 shares, compared to its average volume of 20,932,260. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.50 and a quick ratio of 1.37. Broadcom Inc. has a 52-week low of $134.90 and a 52-week high of $356.34. The stock has a fifty day simple moving average of $292.09 and a 200-day simple moving average of $237.38. The firm has a market capitalization of $1.58 trillion, a P/E ratio of 85.43, a P/E/G ratio of 2.38 and a beta of 1.16.

Broadcom (NASDAQ:AVGO - Get Free Report) last issued its quarterly earnings data on Thursday, September 4th. The semiconductor manufacturer reported $1.69 EPS for the quarter, topping the consensus estimate of $1.66 by $0.03. Broadcom had a net margin of 31.59% and a return on equity of 36.60%. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.82 billion. During the same period last year, the business posted $1.24 earnings per share. Broadcom's quarterly revenue was up 22.0% compared to the same quarter last year. Broadcom has set its Q4 2025 guidance at EPS. As a group, equities analysts expect that Broadcom Inc. will post 5.38 EPS for the current fiscal year.

Broadcom Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be issued a $0.59 dividend. The ex-dividend date is Monday, September 22nd. This represents a $2.36 annualized dividend and a yield of 0.7%. Broadcom's dividend payout ratio (DPR) is 60.20%.

Insiders Place Their Bets

In other news, Director Henry Samueli sold 473,898 shares of Broadcom stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $265.33, for a total transaction of $125,739,356.34. Following the completion of the transaction, the director directly owned 38,188,575 shares in the company, valued at approximately $10,132,574,604.75. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kirsten M. Spears sold 36,350 shares of Broadcom stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $261.27, for a total transaction of $9,497,164.50. Following the transaction, the chief financial officer owned 325,587 shares of the company's stock, valued at $85,066,115.49. The trade was a 10.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 830,516 shares of company stock valued at $217,286,457 over the last ninety days. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on AVGO shares. Barclays raised their price objective on Broadcom from $265.00 to $400.00 and gave the company an "overweight" rating in a research note on Friday. Evercore ISI reaffirmed an "outperform" rating and set a $342.00 price objective (up from $304.00) on shares of Broadcom in a research note on Thursday. Piper Sandler raised their target price on Broadcom from $315.00 to $375.00 and gave the stock an "overweight" rating in a research note on Friday. Wall Street Zen raised Broadcom from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Bank of America raised their target price on Broadcom from $300.00 to $400.00 and gave the stock a "buy" rating in a research note on Friday. Three research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $351.00.

Broadcom 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.