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Jim Cramer's Mad Dash: Broadcom Could Be Worth More

NEW YORK (TheStreet) -- On CNBC's "Cramer's Mad Dash" segment, TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, was examining MeadWestvaco (MWV - Get Report)

The packaging company has a new activist investment from Starboard Value, which took a 5.6% stake in MeadWestvaco. 

Cramer said this "remarkable company" has valuable assets that can be unlocked by management, such as real estate and different businesses -- like its chemical division. 

While Cramer did not necessarily agree with Starboard's $59 per share value for MeadWestvaco, he did agree that "it makes a ton of sense" to spin off certain assets. 

Turning to Broadcom (BRCM - Get Report), shares are higher by 8% on news that the company will look to offload or end its cellular baseband business. 

The move could save the company roughly $700 million. Cramer added that the unit has been a "black hole" for the company. 

If Broadcom starts to focus on profitability, the stock is "indeed worth a lot," he concluded.

-- Written by Bret Kenwell in Petoskey, Mich.

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At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.

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