10 Best US Stocks to Buy For Foreign Investors

7. Broadcom Inc. (NASDAQ:AVGO)

Number of Hedge Fund Holders: 161

Average Upside Potential as of March 30: 49.12%

Broadcom Inc. (NASDAQ:AVGO) is a prominent player in the US semiconductor industry. The company provides semiconductor hardware and infrastructure software, catering to data center, networking, broadband, storage, and industrial customers. On March 7, Cantor Fitzgerald was bullish on AVGO, maintaining an Overweight rating on the shares with a price target of $300. The firm credited its positive stance on Broadcom to its impressive financial results, which topped Street estimates.

For fiscal year 2024, Broadcom Inc. (NASDAQ:AVGO)’s revenue stood at $51.6 billion, up 44% year-over-year. The infrastructure software revenue came in at $21.5 billion, signaling seamless integration of VMware. The company’s AI revenue rose 220% year-over-year because of its XPUs and Ethernet networking portfolio. In Q4 2024, Broadcom’s cash from operations stood at $5.6 billion, and its cash and cash equivalents at the end of the quarter were nearly $9.3 billion.

On March 6, Broadcom Inc. (NASDAQ:AVGO) declared a quarterly dividend of $0.59 per share. The dividend is payable on March 31, to shareholders on record as of March 20. The company has a 14-year history of dividend growth and counting.

Among the hedge funds tracked by Insider Monkey in Q4 2024, 161 funds reported owning stakes in Broadcom Inc. (NASDAQ:AVGO), compared to 128 funds in the preceding quarter. Ken Fisher’s Fisher Asset Management is the leading position holder in the company, with 23.9 million shares worth $5.5 billion.