Broadcom Inc’s recently made public that its Chief Legal & Corp Affairs Ofc Brazeal Mark David unloaded Company’s shares for reported $3.42 million on Apr 03 ’24. In the deal valued at $1367.52 per share,2,500 shares were sold. As a result of this transaction, Brazeal Mark David now holds 44,474 shares worth roughly $59.42 million.
Then, TAN HOCK E sold 2,000 shares, generating $2,624,500 in total proceeds. Upon selling the shares at $1312.25, the President and CEO now owns 168,096 shares.
Before that, Brazeal Mark David sold 2,500 shares. Broadcom Inc shares valued at $3,297,438 were divested by the Chief Legal & Corp Affairs Ofc at a price of $1318.97 per share. As a result of the transaction, Brazeal Mark David now holds 46,974 shares, worth roughly $62.76 million.
A number of analysts have revised their coverage, including TD Cowen’s analysts, who increased its forecast for the stock in late March from “a Market perform” to “an Outperform”. TD Cowen maintained its rating on March 08, 2024. It rated AVGO as “a Market perform”.
Price Performance Review of AVGO
On Monday, Broadcom Inc [NASDAQ:AVGO] saw its stock fall -0.25% to $1336.10. Over the last five days, the stock has lost -1.05%. Broadcom Inc shares have risen nearly 19.70% since the year began. Nevertheless, the stocks have risen 112.41% over the past one year. While a 52-week high of $1438.17 was reached on 03/04/24, a 52-week low of $601.29 was recorded on 01/05/24. SMA at 50 days reached $1,288.64, while 200 days put it at $1,019.00. A total of 1.71 million shares were traded, compared to the trading of 2.87 million shares in the previous session.
Levels Of Support And Resistance For AVGO Stock
The 24-hour chart illustrates a support level at 1,320.40, which if violated will result in even more drops to 1,304.70. On the upside, there is a resistance level at 1,347.15. A further resistance level may holdings at 1,358.20. The Relative Strength Index (RSI) on the 14-day chart is 54.19, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 3.30, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 33.95%. Stochastics %K at 63.51% 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 Mar 15, 2024, growing by 0.44 million shares to a total of 5.53 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 5.09 million shares. There was a rise of 7.96%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.38% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.54.
The most recent change occurred on January 23, 2024 when Cantor Fitzgerald began covering the stock and recommended ‘”an Overweight”‘ rating along with a $1300 price target.
