Broadcom CEO Sells $49.9M in Stock Amid Semiconductor Boom
Broadcom CEO Hock Tan sold $49.9 million worth of company shares on September 10, as disclosed in a September 12 SEC filing. The transaction follows a 56% year-to-date surge in AVGO stock, fueled by robust demand for AI-related chips and networking components.
Broadcom's fiscal Q3 revenue jumped 22% to $15.95 billion, with adjusted earnings climbing 36.3%. While insider sales often signal caution, the MOVE may reflect personal financial planning rather than diminished confidence in the semiconductor giant's AI-driven growth trajectory.
The sale involved 148,154 shares executed at peak valuation, coinciding with multiple analyst price target upgrades. Semiconductor stocks remain market leaders as AI infrastructure spending accelerates globally.
