In a filing, Broadcom Inc revealed its Chief Legal & Corp Affairs Ofc Brazeal Mark David unloaded Company’s shares for reported $3.46 million on Oct 09 ’24. In the deal valued at $182.88 per share,18,900 shares were sold. As a result of this transaction, Brazeal Mark David now holds 380,560 shares worth roughly $69.06 million.
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Then, Brazeal Mark David bought 18,900 shares, generating $3,429,405 in total proceeds.
Before that, Kawwas Charlie B bought 15,950 shares. Broadcom Inc shares valued at $2,894,040 were divested by the Officer at a price of $181.44 per share.
William Blair initiated its Broadcom Inc [AVGO] rating to an Outperform in a research note published recently. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in mid July has reiterated a ‘”a Buy”‘ rating for it. Rosenblatt also remained covering AVGO and reiterated its “Buy” recommendation on July 11, 2024. Citigroup maintained its rating on June 11, 2024. It rated AVGO as “a Buy”.
Price Performance Review of AVGO
On Friday, Broadcom Inc [NASDAQ:AVGO] saw its stock fall -2.27% to $181.48. Over the last five days, the stock has gained 2.74%. Broadcom Inc shares have risen nearly 62.58% since the year began. Nevertheless, the stocks have risen 107.51% over the past one year. While a 52-week high of $186.42 was reached on 10/09/24, a 52-week low of $81.83 was recorded on 01/05/24. SMA at 50 days reached $162.53, while 200 days put it at $142.90.
Levels Of Support And Resistance For AVGO Stock
The 24-hour chart illustrates a support level at 178.39, which if violated will result in even more drops to 175.30. On the upside, there is a resistance level at 183.58. A further resistance level may holdings at 185.68. The Relative Strength Index (RSI) on the 14-day chart is 60.97, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 8.00, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 23.96%. Stochastics %K at 90.07% indicates the stock is a selling.
How much short interest is there in Broadcom Inc?
A steep rise in short interest was recorded in Broadcom Inc stocks on 2024-09-30, growing by 9.27 million shares to a total of 64.01 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 54.74 million shares. There was a rise of 14.48%, which implies that there is a positive sentiment for the stock.
The most recent change occurred on June 03, 2024 when Melius began covering the stock and recommended ‘”a Buy”‘ rating along with a $1850 price target.
