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Justine Page, a director at Broadcom Inc. (NASDAQ:AVGO), recently sold 800 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The semiconductor giant, currently valued at $819.7 billion, maintains impressive gross profit margins of 76% and has raised its dividend for 15 consecutive years. The transaction, executed on April 14, was made under a pre-arranged trading plan. The shares were sold at a price of $185 each, totaling $148,000. Following this sale, Page holds 25,380 shares, which include 1,890 restricted stock units. For deeper insights into insider trading patterns and comprehensive analysis, InvestingPro offers detailed research reports covering 1,400+ top US stocks.
In other recent news, Broadcom Inc. has launched a new AI-driven feature called Incident Prediction for its Symantec (NASDAQ:GEN) Endpoint Security Complete product. This tool is designed to enhance cyber defenses by predicting and disrupting cyberattacks, particularly those exploiting legitimate software for malicious purposes. In addition to this development, Broadcom has announced a $10 billion stock buyback program, which analysts view as a positive move to bolster shareholder value amidst recent industry challenges. Cantor Fitzgerald analyst C.J. Muse adjusted the company’s stock price target from $300 to $250, maintaining an Overweight rating, citing Broadcom’s steady business outlook despite macroeconomic uncertainties. The analyst noted strong demand for AI and stability in the company’s software segment, which are seen as key factors in Broadcom’s resilience. Furthermore, Broadcom’s diversified nature and pricing power are expected to help mitigate potential negative effects from tariffs. Meanwhile, the semiconductor sector as a whole received a boost from President Trump’s 90-day tariff pause, although Cantor Fitzgerald analysts warned of continued volatility in the industry. These recent developments highlight Broadcom’s strategic initiatives and the broader market conditions affecting the semiconductor industry.
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