Fulcrum Wealth Advisors LLC Acquires New Holdings in Broadcom Inc. $AVGO

Key Points

• Fulcrum Wealth Advisors LLC initiated a new position in Broadcom during the fourth quarter, buying 9,581 shares valued at about $3.3 million. The stake now represents roughly 2.7% of its portfolio and Broadcom is its 11th-largest holding.
• Broadcom posted solid quarterly results, with EPS of $2.05 beating estimates and revenue of $19.31 billion topping expectations. Revenue rose 29.5% year over year, and analysts now expect full-year EPS of 9.95.
• Despite strong institutional interest and bullish analyst sentiment, insiders have recently been selling shares, including notable sales by S. Ram Velaga and Charlie B. Kawwas. Wall Street’s consensus remains Moderate Buy, with an average price target of $435.30.

Fulcrum Wealth Advisors LLC acquired a new stake in shares of Broadcom Inc. (NASDAQ:AVGO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,581 shares of the semiconductor manufacturer's stock, valued at approximately $3,316,000. Broadcom makes up approximately 2.7% of Fulcrum Wealth Advisors LLC's portfolio, making the stock its 11th largest position.

Several other hedge funds also recently bought and sold shares of AVGO. Brighton Jones LLC lifted its position in Broadcom by 21.8% during the fourth quarter. Brighton Jones LLC now owns 29,683 shares of the semiconductor manufacturer's stock valued at $6,882,000 after purchasing an additional 5,322 shares during the last quarter. Revolve Wealth Partners LLC lifted its position in Broadcom by 10.4% during the fourth quarter. Revolve Wealth Partners LLC now owns 7,997 shares of the semiconductor manufacturer's stock valued at $1,854,000 after purchasing an additional 756 shares during the last quarter. United Bank lifted its position in Broadcom by 76.5% during the first quarter. United Bank now owns 2,339 shares of the semiconductor manufacturer's stock valued at $392,000 after purchasing an additional 1,014 shares during the last quarter. Sivia Capital Partners LLC lifted its position in Broadcom by 10.1% during the second quarter. Sivia Capital Partners LLC now owns 12,693 shares of the semiconductor manufacturer's stock valued at $3,499,000 after purchasing an additional 1,160 shares during the last quarter. Finally, Capital & Planning LLC lifted its position in Broadcom by 10.5% during the second quarter. Capital & Planning LLC now owns 3,983 shares of the semiconductor manufacturer's stock valued at $1,098,000 after purchasing an additional 378 shares during the last quarter. Hedge funds and other institutional investors own 76.43% of the company's stock.

Insider Buying and Selling

In other news, insider S. Ram Velaga sold 8,000 shares of the company's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $370.52, for a total value of $2,964,160.00. Following the completion of the sale, the insider owned 57,932 shares of the company's stock, valued at approximately $21,464,964.64. This represents a 12.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charlie B. Kawwas sold 10,000 shares of the company's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $345.23, for a total transaction of $3,452,300.00. Following the completion of the sale, the insider directly owned 787,184 shares of the company's stock, valued at $271,759,532.32. This trade represents a 1.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 324,282 shares of company stock worth $106,425,249 in the last ninety days. 1.90% of the stock is currently owned by insiders.

Broadcom Price Performance

Shares of Broadcom stock opened at $428.43 on Tuesday. Broadcom Inc. has a 52-week low of $215.88 and a 52-week high of $437.68. The stock has a market capitalization of $2.03 trillion, a price-to-earnings ratio of 83.68, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The company has a fifty day moving average of $356.98 and a 200-day moving average of $352.45. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.73 and a current ratio of 1.90.

Broadcom (NASDAQ:AVGO - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The semiconductor manufacturer reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.02. Broadcom had a net margin of 36.57% and a return on equity of 38.61%. The company had revenue of $19.31 billion during the quarter, compared to analysts' expectations of $19.10 billion. During the same quarter in the prior year, the company earned $1.60 EPS. The firm's revenue was up 29.5% on a year-over-year basis. Equities research analysts expect that Broadcom Inc. will post 9.95 EPS for the current year.

Broadcom Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Monday, March 23rd were paid a $0.65 dividend. The ex-dividend date of this dividend was Monday, March 23rd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.6%. Broadcom's dividend payout ratio is 50.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Broadcom from $462.00 to $470.00 and gave the company an "overweight" rating in a research report on Friday, March 6th. Wells Fargo & Company upgraded shares of Broadcom from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $410.00 to $430.00 in a research report on Thursday, January 15th. Weiss Ratings lowered shares of Broadcom from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, April 24th. Benchmark reiterated a "buy" rating and set a $485.00 target price on shares of Broadcom in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada dropped their target price on shares of Broadcom from $370.00 to $340.00 and set a "sector perform" rating for the company in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Broadcom currently has an average rating of "Moderate Buy" and an average price target of $435.30.

About Broadcom

Broadcom Inc NASDAQ: AVGO is a global technology company that designs, develops and supplies semiconductor and infrastructure software solutions for a broad range of markets. The company's semiconductor business provides components and systems for wired and wireless communications, enterprise and cloud storage, networking and broadband access, serving original equipment manufacturers, cloud service providers, telecommunications carriers and industrial customers worldwide. Broadcom is headquartered in Irvine, California, and operates globally with research, development and sales organizations across North America, Europe and Asia.

On the semiconductor side, Broadcom's portfolio includes system-on-chip (SoC) and application-specific integrated circuit (ASIC) solutions, radio-frequency and connectivity components, Ethernet switching and PHY devices, storage adapters and controllers, optical transceivers and other networking silicon.

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