Cashing In at Broadcom

Thanks to the high-flying nature of Internet stocks, officers and directors of high-tech firms have been eager to cash in their shares. And insider-data trackers note that, among Internet companies, Irvine-based Broadcom Corp. has topped the list of firms where insiders recently have sold or filed to sell shares.

Other top insider sellers include staff and investors of Excite, Earthlink Network and Real Networks, according to filings with the Securities and Exchange Commission.

In its October secondary stock offering--when large investors sold off previously issued securities--10 Broadcom insiders sold 1.3 million shares worth about $89.1 million. Co-Chairman and Chief Executive Henry Nicholas and Co-Chairman Henry Samueli each sold 490,000 shares.

At the time, the pair said they were selling their shares in the secondary offering to bolster the company’s public float from 3 million to 6 million shares, as well as reduce the stock’s volatility.

On Friday, Broadcom stock rose $7, closing at $108 a share.

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P.J. Huffstutter covers high technology for The Times. She can be reached at (714) 966-7830 and at p.j.huffstutter@latimes.com.