Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Broadcom Inc shares valued at $3,291,150 were sold by Brazeal Mark David on Apr 10 ’24. At $1316.46 per share, Brazeal Mark David sold 2,500 shares. The insider’s holdings dropped to 41,974 shares worth approximately $58.82 million following the completion of this transaction.
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Also, PAGE JUSTINE sold 110 shares, netting a total of over 145,530 in proceeds. Following the sale of shares at $1323.00 each, the insider now holds 3,125 shares.
Before that, Spears Kirsten M. had sold 3,000 shares from its account. In a trade valued at $4,029,435, the CFO & Chief Accounting Officer traded Broadcom Inc shares for $1343.14 each. Upon closing the transaction, the insider’s holdings decreased to 3,000 shares, worth approximately $60.9 million.
As published in their initiating research note from Melius on June 03, 2024, Broadcom Inc [AVGO] has been a Buy and the price target has been revised to $1850. Analysts at Jefferies started covering the stock with ‘”a Buy”‘ outlook in a report released in mid May. As of April 17, 2024, Barclays has reiterated its “an Overweight” rating for AVGO. Earlier on April 16, 2024, Evercore ISI initiated its rating. Their recommendation was “an Outperform” for AVGO stock.
Analyzing AVGO Stock Performance
During the last five days, there has been a surge of approximately 2.73%. Over the course of the year, Broadcom Inc shares have jumped approximately 25.53%. Shares of the company reached a 52-week high of $1,445.40 on 05/16/24 and a 52-week low of $1,041.51 on 01/05/24. A 50-day SMA is recorded $1,334.67, while a 200-day SMA reached $1,116.17. Nevertheless, trading volume fell to 2.0 million shares from 2.3 million shares the previous day.
Support And Resistance Levels for Broadcom Inc (AVGO)
According to the 24-hour chart, there is a support level at 1,385.44, which, if violated, would cause prices to drop to 1,369.62. In the upper region, resistance lies at 1,419.89. The next price resistance is at 1,438.52. RSI (Relative Strength Index) is 56.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.47, which suggests the price will decrease in the coming days. Percent R is at 21.93%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
