Insider Selling: John E. Major Unloads 1,000 Shares of Broadcom Stock (BRCM)
Broadcom (NASDAQ:BRCM) Director John E. Major sold 1,000 shares of Broadcom stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $38.15, for a total transaction of $38,150.00. Following the sale, the director now directly owns 41,925 shares of the company’s stock, valued at approximately $1,599,439. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Broadcom (NASDAQ:BRCM) traded down 0.31% on Monday, hitting $38.07. The stock had a trading volume of 5,348,067 shares. Broadcom has a 1-year low of $23.25 and a 1-year high of $40.74. The stock has a 50-day moving average of $37.90 and a 200-day moving average of $32.79. The company has a market cap of $22.499 billion and a price-to-earnings ratio of 34.88.
Broadcom (NASDAQ:BRCM) last released its earnings data on Tuesday, July 22nd. The company reported $0.65 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.61 by $0.04. The company had revenue of $2.04 billion for the quarter, compared to the consensus estimate of $2.05 billion. During the same quarter last year, the company posted $0.70 earnings per share. Broadcom’s revenue was down 2.3% compared to the same quarter last year. Analysts expect that Broadcom will post $2.84 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Bernstein raised their price target on shares of Broadcom from $44.00 to $46.00 in a research note on Wednesday, July 23rd. They now have an “outperform” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of Broadcom from $40.00 to $45.00 in a research note on Wednesday, July 23rd. They now have a “positive” rating on the stock. Finally, analysts at Topeka Capital Markets raised their price target on shares of Broadcom from $40.00 to $45.00 in a research note on Wednesday, July 23rd. They now have a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.18.
Broadcom Corporation (NASDAQ:BRCM), is a global semiconductor solution for wired and wireless communications.
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