Two Broadcom executives sold more than $10 million of AVGO stock on July 8, a move that landed just as the shares were trading near the top of their recent range. Mark David Brazeal and Gayla Delly disclosed the sales in Form 4 filings submitted to the SEC on July 10.
Brazeal sold 25,000 shares at an average price of $379.19, generating about $9.48 million, while Delly sold 1,890 shares for $728,368. After the sale, Brazeal still held 219,989 shares, and Delly retained 31,326 shares. Brazeal cut his stake by 10.2%, and Delly reduced hers by 5.69%.
The trades came as AVGO had risen 4.8% in a single day around the time of the sales and had already advanced nearly 16% since the start of the year. Broadcom started Monday trading at $399.97, with the shares sitting between $269.58 and $495.00 over the past 52 weeks and a market value approaching $1.90 trillion. The latest quarterly report, issued on June 3, showed adjusted EPS of $2.44 on revenue of $22.19 billion, up 47.9% from a year earlier and slightly ahead of the $22.13 billion consensus estimate.
That strength has not stopped analysts from staying constructive. William Blair’s Sebastien Naji kept a Buy rating on Broadcom, JPMorgan’s Harlan Sur reaffirmed a Buy, and Jefferies held a Buy call with a $550 price objective. Erste Group, by contrast, moved to Hold. TipRanks also flagged AVGO with a Very Negative Insider Confidence Signal, pointing to $26.6 million in informative sell transactions over the previous three-month period.
The backdrop matters. Broadcom and Apple recently announced a $30 billion semiconductor partnership running through 2031, and the agreement calls for more than 15 billion domestically-produced chips. Broadcom also said it would commit $1.5 billion to facility enhancements at its Fort Collins, Colorado manufacturing site. That mix of growth, analyst support and insider selling leaves investors with a familiar split-screen: the business looks strong, but the people closest to it are taking cash off the table.
The one unanswered point is simple. Brazeal and Delly have now told the market what they sold; they have not said why they sold it.
