Diane M. Bryant, director of Broadcom Inc., sold (NASDAQ:), recently acquired a significant portion of its holdings in the semiconductor company. According to a filing with the Securities and Exchange Commission, Bryant sold 15,000 shares of Broadcom common stock on December 23, 2024. The shares were sold at an average price of $226.68 per share, for a total of approximately $3.4 million. The deal comes as Broadcom, now worth $1.15 trillion, is trading near its 52-week high of $251.88. according to InvestingPro According to the data, the stock has returned an impressive 123% year-to-date.
This transaction was conducted under a Rule 10b5-1 trading plan, which allows company insiders to prepare a predetermined plan to sell stock. Following this sale, Bryant retains direct ownership of 6,460 shares, adjusted for the ten-for-one futures stock split that took effect earlier in the year. In addition, Bryant owns 320 shares indirectly through the Diane M. Bryant Trust. The company maintains strong fundamentals, with a gross profit margin of 75.2% and revenue growth of 44% in the past twelve months.
Investors often watch insider transactions like these for potential signals about a company's future performance, although such transactions can also be part of routine portfolio adjustments. InvestingPro The analysis shows that 20 analysts have revised their earnings upwards for the coming period, indicating continued optimism about the company's prospects. For deeper insights into Broadcom's valuation and growth metrics, investors can access Pro Research's comprehensive report, available exclusively on InvestingPro.
In other recent news, Broadcom Limited has been the focus of attention from many financial companies due to strong growth in the artificial intelligence (AI) sector. Broadcom's AI revenue for fiscal year 2024 reached $12.2 billion, a three-fold increase year over year, and is expected to grow to $17-18 billion in fiscal year 2025, representing a 40% increase year over year. This growth is largely due to Broadcom's custom silicon business, which is expected to expand three to four times in the next three years.
UBS raised its price target on Broadcom shares to $270.00, up from the previous target of $220.00, while maintaining a Buy rating on the stock. Likewise, Bernstein SocGen Group increased its price target on Broadcom to $250 from $195 previously, while maintaining an Outperform rating. JPMorgan revised its outlook on Broadcom, raising its price target to $250 from $210 previously while maintaining an overweight rating on the stock. Goldman Sachs reiterated its Buy rating on Broadcom, with a revised 12-month price target of $240, up from $190 previously.
These amendments reflect recent developments in the company's financial performance and growth prospects. The serviceable semiconductor (SAM) market forecast for AI for FY2027 is expected to range between $60 billion and $90 billion, indicating a steeper growth trajectory than previous estimates. These positive expectations from financial companies underscore the great potential of Broadcom's AI revenue streams.
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