5 Best Fast Growth Stocks to Buy According to Hedge Funds

2. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holdings: 173

EPS Growth Next 5 Years: 56.11%

Broadcom Inc. (NASDAQ:AVGO) is one of the best fast growth stocks to buy according to hedge funds. On June 17, Broadcom Inc. (NASDAQ:AVGO) announced the expiration and results of its cash tender offers to buy back six series of its own outstanding senior notes. The company also raised the total buyback cap from the originally announced $2.5 billion to $3.0 billion.

Broadcom launched these offers less than a week ago on June 11 for six series of outstanding senior notes with maturities ranging from 2030 to 2038. The company noted that by the time the offers expired, approximately $5.5 billion in combined principal had been tendered across all six series.

Of the $5.5 billion tendered, Broadcom accepted about $2.9 billion for purchase, consisting of all notes validly tendered in the two highest-priority series. The 4.926% Senior Notes due 2037 had $2.5 billion outstanding, of which $1.84 billion was tendered and fully accepted at $982.01 per $1,000 face value. The 4.900% Senior Notes due 2038 had $1.75 billion outstanding, of which $1.05 billion was tendered and fully accepted at $970.29 per $1,000 face value.

Broadcom assigned the remaining four series lower acceptance priority levels, and while significant amounts were tendered from each, the company accepted none for purchase once the $3 billion cap was reached.

Broadcom Inc. (NASDAQ:AVGO) is a semiconductor and infrastructure software company. It designs, develops, and supplies a range of semiconductor devices and enterprise software solutions, including networking chips, custom silicon, storage adapters, and mainframe software.