5 Tech Stocks to Buy Now According to Billionaire Steve Cohen

In this article, we talk about the 5 tech stocks to buy now according to billionaire Steve Cohen. In order to read our detailed analysis of Cohen’s hedge fund history and investment strategy, as well as the risk/reward and methodology of this list, go directly to 10 Tech Stocks To Buy Now According To Billionaire Steve Cohen.

5. Broadcom Inc. (NASDAQ:AVGO)

Stake Value in Point72 Asset Management’s 13F Portfolio: $162.02 million

Percentage of Point72 Asset Management’s 13F Portfolio: 0.68%

Number of Hedge Funds: 66

Broadcom Inc. (NASDAQ:AVGO) designs, develops, manufactures, and distributes a variety of semiconductor and infrastructure software products worldwide.

The company has a strong dividend history. Broadcom Inc. (NASDAQ:AVGO) has consistently paid dividends to its shareholders for the last ten years and early in September, the company also announced its regular quarterly dividend of $4.10 per share with a forward yield of 3.34%.

Broadcom Inc. (NASDAQ:AVGO) has also strong profits. In the second quarter, Broadcom Inc. (NASDAQ:AVGO) delivered adjusted EPS of $9.73 and revenue of $8.46 billion, beating estimates by $0.18 and $57.49 million respectively.

As of the end of Q2 2022, 66 of the hedge funds tracked by Insider Monkey owned stakes in Broadcom Inc. (NASDAQ:AVGO). Those stakes held a collective value of over $4.03 billion.

Among the hedge funds tracked by Insider Monkey, Fisher Asset Management is a leading shareholder in Broadcom Inc. (NASDAQ:AVGO), with 1 million shares worth more than $716.29 million.