Insider Sale at Broadcom Inc.: Mark David Brazeal Sells Shares Worth $4.8 Million

Broadcom Inc. (NASDAQ:AVGO) insider Mark David Brazeal sold 20,168 shares of the company's stock on December 24th. The shares were sold at an average price of $238.79, resulting in a total transaction value of $4,815,916.72. After this sale, Brazeal now holds 321,660 shares of Broadcom, which are estimated to be worth around $76,809,191.40. This transaction led to a 5.90% decrease in his stock position. The details of the sale were revealed in a filing with the SEC.

Mark David Brazeal has been active in trading Broadcom stock recently. On October 9th, he sold 18,900 shares for an average price of $182.88, amounting to $3,456,432.00. Additionally, on October 7th, he sold 20,280 shares at a price of $177.10, totaling $3,591,588.00.

Broadcom Price Movements

As of last Friday, NASDAQ AVGO shares traded down by $3.61, reaching $241.75. Over 29 million shares were exchanged, slightly below the average volume of around 30.5 million. Broadcom's stock has seen a yearly low of $104.15 and a high of $251.88. The company has a 50-day moving average of $184.30 and a 200-day moving average of $170.51. Broadcom boasts a market cap of $1.13 trillion, a P/E ratio of 210.03, and a P/E/G ratio of 2.15.

Earnings Announcement and Dividend Increase

Broadcom reported its latest earnings results on December 12th, showcasing an earnings per share (EPS) of $1.42 for the quarter, surpassing analysts' expectations by $0.03. The firm also reported a revenue of $14.05 billion against expected figures of $14.07 billion for the quarter, marking a revenue increase of 51.2% year-over-year. In relation to dividends, Broadcom announced a quarterly dividend payment of $0.59 per share to be distributed on December 31st, an increase from the previous quarter's dividend of $0.53.

Institutional Involvement

Institutional investors currently hold 76.43% of Broadcom's stock. Recently, several hedge funds have adjusted their holdings in AVGO. For instance, Castleview Partners LLC significantly increased its stake by 1,030.8%, while Pin Oak Investment Advisors boosted its position by 900.0% in the third quarter of the year. These movements illustrate growing confidence among institutional investors regarding Broadcom's future prospects.

Analysts' Predictions and Recommendations

Broadcom has caught the attention of various research analysts recently. Morgan Stanley raised its price target on the stock from $233.00 to $265.00 with an "overweight" rating. Other firms, including Mizuho and Robert W. Baird, have also revised their price targets upward, reflecting a generally positive outlook for Broadcom. Currently, the stock holds a consensus rating of "Moderate Buy" with an average target price of $221.88 among analysts.

Overview of Broadcom Inc.

Broadcom Inc. designs, develops, and supplies a wide array of semiconductor devices with a focus on complex digital and mixed signal products. The company operates primarily in two segments: Semiconductor Solutions and Infrastructure Software. Its diverse product offerings contribute significantly to its comprehensive market presence and financial performance.

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