Broadcom’s (AVGO) chief legal and corporate affairs officer, Mark David Brazeal, recently sold shares of the company worth $4.5 million. According to the SEC filing, Brazeal divested 25,000 shares of AVGO on April 11 at a weighted average price of $180 per share.
Following the latest transaction, the insider owns 465,956 shares, which include 336,250 restricted stock units, for a total value of $83.4 million.
Bearish Insider Sentiment for AVGO Stock
It must be noted that Brazeal is not the only insider who reduced his stake in the company. Based on other informative insider transactions from the last three months, corporate insiders have sold $130.9 million worth of AVGO stock.
Overall, TipRanks’ Insider Trading Activity Tool shows that insider confidence in the stock is currently Negative.
Interestingly, Investors may benefit from keeping an eye on transactions made by key insiders, as these trades typically reflect their trust in the company’s future. Thus, TipRanks offers daily insider transactions as well as a list of top corporate insiders. It also provides a list of hot stocks that boast either a Very Positive or Positive insider confidence signal.
Who Is the Best Analyst Covering AVGO Stock?
According to TipRanks, Vivek Arya from Bank of America Securities has witnessed 96% success in his 24 ratings on Broadcom stock. Importantly, copying Arya’s trades for a year would yield an average return of 56.77% per trade.
The analyst recently cut Broadcom’s price target to $240 from $260 but kept a Buy rating. The analyst lowered price targets across chip stocks due to rising uncertainty from Trump’s tariffs.
However, Arya warned that “modest” tariffs could cut sales by 4% to 6%, while “deeper” tariffs could lower sales by 9%-12% in 2025-2026. EPS could drop by 12%-13% in a modest tariff scenario.
Is AVGO a Good Stock to Buy Now?
Turning to Wall Street, AVGO stock has a Strong Buy consensus rating based on 23 Buys and two Holds assigned in the last three months. At $247.45, the average Broadcom price target implies a 38.28% upside potential. Shares of the company have declined 22% over the past three months.
