Insider Selling: Broadcom Corp. EVP Unloads 4,687 Shares of Stock (BRCM)
Broadcom Corp. (NASDAQ:BRCM) EVP Robert A. Rango sold 4,687 shares of Broadcom Corp. stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $30.00, for a total transaction of $140,610.00. Following the transaction, the executive vice president now directly owns 290,863 shares in the company, valued at approximately $8,725,890. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of research firms have recently commented on BRCM. Analysts at Zacks upgraded shares of Broadcom Corp. from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, January 15th. They now have a $35.00 price target on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Broadcom Corp. to $32.00 in a research note to investors on Monday, January 13th. Finally, analysts at B. Riley upgraded shares of Broadcom Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Monday, January 13th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.01.
Shares of Broadcom Corp. (NASDAQ:BRCM) traded down 1.28% on Friday, hitting $29.39. 8,508,995 shares of the company’s stock traded hands. Broadcom Corp. has a 52-week low of $23.25 and a 52-week high of $37.85. The stock’s 50-day moving average is $28.90 and its 200-day moving average is $27.73. The company has a market cap of $16.694 billion and a price-to-earnings ratio of 34.34.
Broadcom Corporation (NASDAQ:BRCM) is a global semiconductor solution for wired and wireless communications.
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