Key insights
- Broadcom's President Velaga S. Ram sold $20.8 million in AVGO stock to cover withholding taxes due upon vesting of restricted stock units. This comes amid positive news regarding Broadcom's Tomahawk 6 switch chip and Taurus BCM83640 chip. DA Davidson raised its price target for Broadcom to $375, maintaining a Neutral rating. Seaport highlighted Broadcom as a potential opportunity. The insider selling may create slight negative sentiment.
Broadcom Inc (NASDAQ:AVGO) President of ISG, Velaga S. Ram, sold 60,276 shares of common stock on March 16 and 17, 2026, according to a recent Form 4 filing with the Securities and Exchange Commission. The sales, executed in multiple transactions, fetched prices ranging from $317.946 to $328.766, resulting in a total value of $20,819,102.The insider sale comes as Broadcom, a prominent player in the semiconductor industry with a $1.5 trillion market cap, trades at $315.93—below its InvestingPro Fair Value of $347.36, suggesting the stock may be undervalued despite its impressive 63% return over the past year. For deeper insights into Broadcom’s valuation and growth prospects, investors can access the comprehensive Pro Research Report, available for this and 1,400+ other US equities.
The transactions were to cover withholding taxes due upon vesting of restricted stock units.
Following the reported sales, Velaga S. Ram directly owns 96,147 shares of Broadcom Inc. common stock. Additionally, 35 shares are held indirectly by a child.
In other recent news, Broadcom Inc. announced that its Tomahawk 6 switch chip series has entered production volume shipments, doubling the throughput of its predecessor, Tomahawk 5. Additionally, Broadcom has begun sampling its 3-nanometer Taurus BCM83640 chip, designed for 1.6 terabit optical transceiver modules, which enhances bandwidth per optical lane. These advancements come amid a positive outlook from Bank of America on optical networking stocks, highlighting Marvell Technology as a key beneficiary due to its market share in digital signal processors. Furthermore, DA Davidson raised its price target for Broadcom to $375, maintaining a Neutral rating, following Broadcom’s first-quarter results that slightly exceeded consensus estimates. Seaport’s Chief Equity Strategist mentioned the potential rebound of software stocks and opportunities with Nvidia, Broadcom, and AMD, as price-to-earnings multiples have dropped significantly. These developments reflect ongoing shifts and opportunities within the semiconductor and software sectors.
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