Mark David Brazeal, Chief Legal and Corporate Affairs Officer at Broadcom Inc. (NASDAQ:), recently sold 20,168 shares of the company’s common stock. The transaction, which took place on December 24, 2024, was executed at prices ranging from $238.77 to $238.88 per share, resulting in a total sale value of approximately $4.8 million. This sale comes as Broadcom, now valued at $1.13 trillion, trades near its 52-week high of $251.88, having delivered an impressive 119% return year-to-date. According to InvestingPro analysis, the stock appears overvalued at current levels.
Following this sale, Brazeal retains ownership of 321,660 shares, which includes 263,750 restricted stock units. This transaction was part of a series of trades, and the reported price reflects the weighted average sale price per share. InvestingPro data shows Broadcom maintains a “GREAT” financial health score, with 20+ additional insights available to subscribers through comprehensive Pro Research Reports.
In other recent news, Broadcom Limited has been the subject of attention from multiple financial firms due to its robust growth in the artificial intelligence (AI) sector. UBS has increased the price target for Broadcom shares to $270, maintaining a Buy rating. The firm has also raised AI revenue forecasts for fiscal years 2026 and 2027 by approximately 20% and 40% respectively, based on the anticipation of significant growth in Broadcom’s serviceable addressable market (SAM). Bernstein SocGen Group has increased its price target for Broadcom to $250, maintaining an Outperform rating, following Broadcom’s fiscal fourth-quarter 2024 earnings. JPMorgan has raised its price target for Broadcom to $250 while maintaining an Overweight rating. The company’s AI revenues for fiscal year 2024 reached $12.2 billion, a threefold year-over-year increase, and are projected to grow to $17-18 billion in fiscal year 2025. Goldman Sachs confirmed its Buy rating on Broadcom, with a revised 12-month price target of $240, following an optimistic outlook for the company’s growth prospects, particularly in the AI semiconductor market. These developments indicate a positive outlook for Broadcom’s financial performance in the coming years, particularly in the AI sector.
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