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Broadcom director Justine Page sells shares worth over $145k

Published 13/04/2024, 01:44

Justine Page, a director at Broadcom Inc. (NASDAQ:AVGO), has sold 110 shares of the company's common stock, with the transactions amounting to over $145,530, according to a recent filing with the Securities and Exchange Commission. The shares were sold at a price of $1,323 each.

The transaction, which took place on April 10, 2024, was disclosed in a Form 4 filing with the SEC on April 12. Following the sale, Page still holds a total of 3,125 shares in Broadcom, indicating a continued investment in the company's future.

Broadcom Inc., a leader in the semiconductor industry, is known for its broad range of products used in various electronic devices and systems. The company's stock is closely watched by investors interested in the technology sector.

The sale by a high-ranking member of Broadcom's board is a routine disclosure and provides investors with insight into the trading activities of the company's insiders. Such transactions are common and are required to be reported to the SEC in a timely manner.

Investors often monitor insider transactions as part of their analysis, considering them alongside other financial data and market trends when making investment decisions. It is worth noting that insider sales do not necessarily indicate a negative outlook on the company's future by the individual; they could be related to personal financial planning or portfolio diversification.

Broadcom Inc. has not made any comments on the transaction, and it remains part of the normal course of business for executives and directors to engage in stock trades. The company continues to focus on its growth and market position within the semiconductor industry.

InvestingPro Insights

Broadcom Inc. (NASDAQ:AVGO) has been a standout in the semiconductor industry, not just for its product range but also for its financial performance. With a market capitalization of $622.87 billion, the company's size speaks to its significant presence in the market. Investors are keeping a close eye on Broadcom's financial metrics, such as its P/E ratio, which currently stands at 48.82, suggesting a high valuation compared to earnings. This is further emphasized by the adjusted P/E ratio for the last twelve months as of Q1 2024, which is 49.54.

One of the notable InvestingPro Tips for Broadcom is its consistent dividend track record. The company has not only maintained but raised its dividend for 15 consecutive years, which is a strong indicator of its financial health and commitment to shareholder returns. In addition, analysts are anticipating sales growth in the current year, which may be a response to the company's revenue growth of 12.94% over the last twelve months as of Q1 2024.

Despite some analysts revising their earnings expectations downwards for the upcoming period, Broadcom's robust gross profit margin of 74.24% over the last twelve months stands out. This margin underscores the company's ability to manage its cost of goods sold effectively and maintain profitability. Furthermore, with a significant return on assets of 9.28% in the same period, Broadcom demonstrates efficient asset utilization, which is critical for investor confidence.

For those looking to delve deeper into Broadcom's financial landscape, InvestingPro offers a wealth of additional tips. There are currently 18 more InvestingPro Tips available that can provide investors with a more comprehensive understanding of Broadcom's performance and potential. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, which includes these valuable insights.

Overall, Broadcom's strong market position and financial metrics continue to make it a company of interest for those invested in the technology sector, despite the recent insider sale reported.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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