ClearBridge Betting Big On These Tech Stocks

Next up is Cisco Systems Inc. (NASDAQ:CSCO), in which ClearBridge slightly decreased its share ownership to 5.38 million shares, worth $147.9 million. Cisco Systems Inc. (NASDAQ:CSCO) recently conducted a $5 billion senior unsecured notes offering. The company plans to use the proceeds for general corporate purposes, including to return capital to shareholders pursuant to its capital allocation strategy through the repurchase of shares of its common stock and the payment of cash dividends. Cisco Systems Inc. (NASDAQ:CSCO) is one of the tech companies getting ready for battle in the burgeoning Internet of Things (IoT) space. A new study by research firm International Data Corporation (IDC) indicates the worldwide IoT market could be worth $1.7 trillion by 2020. For its third quarter of 2015, ended April 25, Cisco Systems Inc. (NASDAQ:CSCO) posted net income of $2.4 billion, versus $2.2 billion in the same period last year. Revenue was $12.1 billion, up from $11.5 billion year-over-year. Cisco Systems Inc. (NASDAQ:CSCO)’s stock has increased by 17.53% during the past year. Another investor of the company is Donald Yacktman’s Yacktman Asset Management, which holds 48.98 million shares as of March 31.

Lastly is Amazon.com Inc. (NASDAQ:AMZN), in which ClearBridge disclosed owning 357,832 shares, representing a 3% decrease in its position during the first quarter. The stake is valued at $133.1 million. For the first quarter of 2015, Amazon.com Inc. (NASDAQ:AMZN) reported a 15% increase in net sales to $22.72 billion, compared to the same quarter a year ago. The company booked a net loss of $57 million in the quarter, versus net income of $108 million in the same quarter last year. Amazon.com Inc. (NASDAQ:AMZN)’s stock has been performing well, gaining 33.3% during the past year. Other large shareholders of Amazon.com Inc. (NASDAQ:AMZN) include Ken Fisher’s Fisher Asset Management, and Boykin Curry’s Eagle Capital Management, holding 2.47 million shares and 2.23 million shares respectively, as of the end of the first quarter.

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