Charlie B. Kawwas, President of the Semiconductor Solutions Group at Broadcom Inc. (NASDAQ:AVGO), has sold 40,000 shares of the company's common stock. The shares were sold at an average price of $231.98 each, totaling approximately $9.28 million. The sale comes as Broadcom, now valued at $1.11 trillion, trades near its 52-week high with an impressive 128% return over the past year. According to InvestingPro analysis, the stock appears to be trading above its Fair Value. Following this transaction, Kawwas holds 696,730 shares indirectly through a trust. Additionally, he maintains direct ownership of 82,990 shares, which includes 75,000 restricted stock units. InvestingPro has identified 20 additional insights about Broadcom, including its 15-year track record of consecutive dividend increases and strong growth prospects. Access the full Pro Research Report for comprehensive analysis of this semiconductor giant.
In other recent news, Nvidia (NASDAQ:NVDA) saw a rise in its shares due to positive revenue growth news from its server assembly partner, Foxconn (SS:601138), which reported a 15% revenue increase exceeding expectations. This was driven by continued demand for AI infrastructure, pushing shares of other semiconductor companies, including AMD (NASDAQ:AMD), Micron (NASDAQ:MU), and Broadcom, upwards. Analysts from UBS and Bernstein SocGen Group have revised their price targets for Broadcom upwards, maintaining a positive outlook on the stock. They cite the company's strong AI revenue growth and potential for further expansion, particularly in the AI networking and custom compute segments.
JPMorgan also maintains an Overweight rating on Broadcom, raising its price target as well. The firm cites strong demand in AI and an anticipated acceleration in software revenue as reasons for its positive outlook. Goldman Sachs confirmed its Buy rating on Broadcom, pointing to the company's recent performance and strategic positioning, supported by impressive revenue growth. The firm also increased its non-GAAP EPS forecast for Broadcom for fiscal years 2026 and 2027.
These recent developments indicate a positive sentiment towards Nvidia and Broadcom, largely driven by their growth in AI. It's important to note that these are recent developments and should be considered in the context of broader market trends.
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