Broadcom Inc (+1, AVGO US, September 20th)
Harry You (Director since 2019) purchased 1,000 shares on September 15th at $859, spending $860,000 and increasing his holdings by +40% to 3,510 shares. This is his first open market purchase in the shares and is more than twice what he has received in prior sales, the last of which was in December 2021 at $621.
You is Co-CEO of dMY Squared Technology Group and has held senior executive positions at GTY Technology, EMC, Oracle, and Accenture. We ranked this stock +N on September 11th based on a $9.6m purchase from Check Low (Director since 2016) at $872, also his first purchase in the shares. Both of these directors have met ownership requirements, yet with the stock not far from an all-time high, these large purchases appear to be “out of the blue” and unusual.
We are upgrading the stock further, from +N to +1.