What Did This CEO Just Do with Personal Shares of Broadcom (AVGO)?


Yesterday, the President & CEO of Broadcom (AVGO), Hock Tan, sold shares of AVGO for $5.47M.

Following Hock Tan’s last AVGO Sell transaction on December 19, 2017, the stock climbed by 145.2%. In addition to Hock Tan, 3 other AVGO executives reported Sell trades in the last month.

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Based on Broadcom’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $5.82 billion and quarterly net profit of $688 million. In comparison, last year the company earned revenue of $5.52 billion and had a net profit of $715 million. The company has a one-year high of $385.10 and a one-year low of $155.67. AVGO’s market cap is $155 billion and the company has a P/E ratio of 70.80.

Based on 24 analyst ratings, the analyst consensus is Strong Buy with an average price target of $407.55, reflecting a -5.7% downside.

In the last 30 days, insiders have sold $9.41M worth of AVGO shares and purchased $36.77M worth of AVGO shares. The insider sentiment on Broadcom has been negative according to 83 insider trades in the past three months. This sentiment is slightly lower than the average sentiment of company insiders in this sector.

Hock Tan’s trades have generated a -36.3% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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Broadcom, Inc. is a global technology company, which designs, develops and supplies semiconductor and infrastructure software solutions. It operates through the following segments: Semiconductor Solutions, Infrastructure Software and IP licensing. The Semiconductor Solutions segment manages movement of data in data center, telecom, enterprise and embedded networking applications. The Infrastructure Software segment provides a portfolio of mainframe, enterprise and storage area networking solutions. The IP licensing segment licenses a portion of its broad IP portfolio. The company was founded in 1961 and is headquartered in San Jose, CA.

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