Broadcom Inc. [AVGO] Insider Activity: An Update for Investors


Broadcom Inc.’s recent filing unveils that its CFO & Chief Accounting Officer Spears Kirsten M. unloaded Company’s shares for reported $4.79 million on Jun 08. In the deal valued at $797.82 per share,6,000 shares were sold. As a result of this transaction, Spears Kirsten M. now holds 35,085 shares worth roughly $ 30.6 million.

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Then, Kawwas Charlie B sold 1,645 shares, generating $1,318,188 in total proceeds. Upon selling the shares at $801.33, the President, Semi Solutions Grp now owns 75,290 shares.

Before that, Spears Kirsten M. sold 7,000 shares. Broadcom Inc. shares valued at $4,338,040 were divested by the CFO & Chief Accounting Officer at a price of $619.72 per share. As a result of the transaction, Spears Kirsten M. now holds 41,085 shares, worth roughly $35.83 million.

TD Cowen reiterated its Broadcom Inc. [AVGO] rating to a Market perform in a research note published on Tuesday, September 01, 2023; the price target was $900. PT values the company’s stock at a premium of 3.09 to its Tuesday closing price.

Price Performance Review of AVGO

On Tuesday, Broadcom Inc. [NASDAQ:AVGO] saw its stock fall -0.04% to $872.17. On the same session, the stock had its day’s lowest price of $867.00, but rose to a high of $883.00. Over the last five days, the stock has gained 1.29%. Broadcom Inc. shares have risen nearly 55.99% since the year began. Nevertheless, the stocks have risen 77.27% over the past one year. While a 52-week high of $923.67 was reached on 08/31/23, a 52-week low of $415.07 was recorded on 01/10/23. SMA at 50 days reached $873.89, while 200 days put it at $688.71. A total of 2.48 million shares were traded, compared to the trading of 6.5 million shares in the previous session.

Levels Of Support And Resistance For AVGO Stock

The 24-hour chart illustrates a support level at 865.11, which if violated will result in even more drops to 858.06. On the upside, there is a resistance level at 881.11. A further resistance level may holdings at 890.06. The Relative Strength Index (RSI) on the 14-day chart is 50.60, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 24.87, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 46.12%. Stochastics %K at 54.09% indicates the stock is a holding.

How much short interest is there in Broadcom Inc.?

A steep rise in short interest was recorded in Broadcom Inc. stocks on Aug 14, 2023, dropping by -0.23 million shares to a total of 4.78 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 5.01 million shares. There was a decline of -4.81%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.49% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.09.

Broadcom Inc. [AVGO] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 38,737,241 shares, or roughly 9.39% of the outstanding AVGO shares. In other words, the investor’s shares have risen by 390,199 from its previous 13-F filing of 38347042.0. Additionally, Capital Research & Management Co increased 1.71% of its stake after which the total value it holdings stand at $25,002,708,497, while Capital Research & Management Co reduced -16.95% of its stake to hold $20.59 billion in the firm. Over the last quarter, BlackRock Fund Advisors purchased 1,016,901 shares of Broadcom Inc., while Capital Research & Management Co bought -1,961,728 shares. At present, SSgA Funds Management, Inc. is holding 16,941,449 shares valued at $15.22 billion. Geode Capital Management LLC owned 8,602,239 shares of the company at the time of its most recent 13F filing, worth $7.73 billion.

According to FactSet, Broadcom Inc.’s share price will average $971.36 in the next year, based on opinions of analysts polled by the firm. This is up nearly 14.04 percent from its previous closing price of $872.52. Analysts expect Broadcom Inc. stock to reach the higher price of $1050.00, while the lowest price estimate is $883.00. However, 29 analysts have rated AVGO stock as an Overweight in their predictions for 2023.


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