5 New Stock Picks of Billionaire Paul Tudor Jones

3. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 71

Broadcom Inc. (NASDAQ:AVGO) is a California-based semiconductor and infrastructure software company. In Q1 2022, Paul Tudor Jones’ Tudor Investment Corp added Broadcom Inc. (NASDAQ:AVGO) to its portfolio by acquiring 4,579 shares worth $2.8 million. 

On May 23, Broadcom Inc. (NASDAQ:AVGO) disclosed that it plans to pay around $140 per share for the acquisition of VMware, Inc. (NYSE:VMW). The total transaction would be worth about $60 billion. Upon this announcement, VMWare shares soared 25%, while Broadcom Inc. (NASDAQ:AVGO) stock slipped 3.1%. Mizuho analyst Vijay Rakesh on May 24 reiterated a Buy rating on Broadcom Inc. (NASDAQ:AVGO) with a $700 price target after reports that the company is in talks to acquire VMware.

Among the hedge funds tracked by Insider Monkey, 71 funds were bullish on Broadcom Inc. (NASDAQ:AVGO) at the end of March 2022, up from 62 funds in the last quarter of 2021. Cantillon Capital Management reported a significant stake in the company, comprising more than 1 million shares worth $652.18 million. 

Here is what ClearBridge Investments Sustainability Leaders Strategy has to say about Broadcom Inc. (NASDAQ:AVGO) in its Q4 2021 investor letter:

“However, ClearBridge portfolio companies are responding by supporting their workforces and showing resilience in adapting and thriving. Semiconductor companies ClearBridge owns and engages with have been successful in advancing vaccinations in their global supply chains. In Malaysia, for example, Broadcom has taken part in PIKAS, a public-private partnership vaccination program focusing on the workforce in critical manufacturing sectors. By the summer of 2021 Broadcom was able to get over 90% of workers in its Penang factory at least one dose of vaccine, and roughly 73% fully vaccinated. Companies in the program also pay the administration cost for vaccinations including cases where the employee is no longer employed by the company before full immunization of the employee.”