Two Insiders at Broadcom Corporation (BRCM) Unload Stock

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Broadcom Corporation (NASDAQ:BRCM) saw two insiders unload their company shares this week. Yesterday, Scott Mcgregor, President and Chief Executive Officer at Broadcom, completed a disposition of 75,000 shares of Class A Common Stock, directly, using an employee stock option. The transaction was executed over the past three days, selling 25,000 shares on Tuesday, for $37.49 per share, 25,000 shares of Wednesday for $37.59 per share, and yet another 25,000 shares yesterday, paying $37.75 per share. The insider still holds a total of 1.76 million company shares.

Furthermore, Chief Technology Officer and Chairman of the Board at Broadcom, Henry Samueli, also completed a stock sale transaction on Tuesday, through which the insider unloaded a total of 100,000 shares of Class A Common Stock. The stock was sold at a price of $37.48 per share, through three different investment funds.

In terms of hedge fund positions this quarter, Bain Capital’s Brookside Capital remains the largest shareholder, with a total of 8.37 million shares, worth $263.5 million. Broadcom accounts for 7.01% of the hedge fund’s portfolio.

Disclosure: none

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