50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Broadcom's chief legal officer sells over $3.3 million in company stock

Published 03/27/2024, 06:33 PM
AVGO
-

In a recent transaction, Broadcom Inc.'s (NASDAQ:AVGO) Chief Legal and Corporate Affairs Officer, Mark David Brazeal, has sold 2,500 shares of the company's common stock. The sale, which took place on March 25, 2024, totaled over $3.3 million, with the shares being sold at a price of $1,352.35 each.

This transaction has adjusted Brazeal's holdings in Broadcom, leaving him with a total of 49,474 shares in the company. It is important to note that this figure includes 30,375 restricted stock units, as indicated in the footnotes of the filing.

Investors and market watchers often keep a close eye on insider transactions as they can provide insights into the executives' perspectives on the company's current valuation and future prospects. Broadcom Inc., with its headquarters in Palo Alto, California, is a major player in the semiconductor industry, which makes these transactions particularly noteworthy.

As the company continues to navigate the competitive landscape of semiconductor and related devices, the actions of its top executives are carefully monitored. Broadcom's stock performance and market movements are influenced by a variety of factors, including such insider trades.

The details of the transaction were made public through a Form 4 filing with the Securities and Exchange Commission, which provides transparency on the trades made by the company's insiders. This allows investors and the public to stay informed about significant insider transactions.

For those interested in Broadcom's stock movements and insider activities, the company trades under the ticker symbol AVGO on the NASDAQ stock exchange.

InvestingPro Insights

Broadcom Inc. (NASDAQ:AVGO) continues to be a significant force in the semiconductor industry, and recent market data reflects this position. With a robust market capitalization of $611.13 billion, the company stands as a heavyweight in its sector. This is underscored by a substantial gross profit of $28.85 billion over the last twelve months as of Q1 2024, which translates to a high gross profit margin of 74.24%. This level of profitability showcases Broadcom's ability to efficiently manage its cost of goods sold and maintain a strong position in the market.

Investors considering Broadcom's stock should note that the company has experienced a price total return of 114.55% over the past year, highlighting a period of impressive growth. In the short term, the stock has also seen a positive movement, with a 3.35% price total return in the last week and a 17.6% return over the last three months. These figures suggest a bullish trend for the company's shares in the recent period. Furthermore, the company's commitment to shareholder returns is evident through its consistent dividend growth, with a 14.13% increase over the last twelve months as of Q1 2024.

InvestingPro Tips for Broadcom Inc. reveal that analysts anticipate sales growth in the current year and that the company has raised its dividend for 14 consecutive years. This consistent dividend growth, paired with the expected increase in sales, may offer a compelling narrative for potential investors. For those looking to delve deeper into Broadcom's financial health and future prospects, there are 15 additional InvestingPro Tips available, including insights on earnings revisions and valuation multiples. To explore these further, visit InvestingPro and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.