11 Best Technology Dividend Stocks To Buy

Published on October 20, 2023 at 4:10 am by Vardah Gill in Dividend Stocks, Hedge Funds, News

In this article, we discuss 11 best technology dividend stocks to buy. You can skip our detailed analysis of dividend stocks and the tech sector, and go directly to read 5 Best Technology Dividend Stocks To Buy.

Technology stocks, following significant losses in 2022, have made a strong comeback in 2023, outperforming the market. Despite a slower economy, investors are turning to market segments that promise appealing growth. The Nasdaq Composite is up 28.18% year-to-date, compared to a 12.83% return of the S&P 500. In addition to this, tech companies that are both profitable and have established business models have returned capital to their shareholders by increasing their dividend payments. The S&P Technology Dividend Aristocrats Index, which tracks the performance of tech and tech-related stocks that have raised their dividends for seven consecutive years or more, has gained 11.57% this year so far. According to a report by ProShares, while S&P 500 earnings have remained stagnant, the typical Technology Dividend Aristocrat stock saw a 21% increase in earnings by the end of their last fiscal year.

According to analysts at Goldman Sachs Group Inc., a recent decline in the Nasdaq 100 has made tech stocks unusually affordable when considering earnings estimates, especially in terms of a valuation metric called the PEG ratio. Goldman’s analysis reveals that the seven largest tech stocks currently have a PEG ratio of 1.3, which is significantly lower than the median S&P 500 stock’s 1.9. This represents the most substantial discount since January 2017 and has occurred only five times in the past decade.

As mentioned above, tech stocks also provide dividends to shareholders, and investors are particularly focused on dividends in the present economic climate. Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Oracle Corporation (NYSE:ORCL) are some of the best dividend stocks from the tech sector that pay regular dividends to shareholders. In this article, we will further discuss tech dividend stocks to buy now.

Photo by NeONBRAND on Unsplash

Our Methodology:

We searched through Insider Monkey’s database of 910 hedge funds to identify tech stocks that offer dividends to shareholders. From this selection, we chose dividend-paying stocks within the tech sector that have consistent track records of dividend payments. The stocks are ranked in ascending order of the number of hedge funds having stakes in them as of Q2 2023.

11. Corning Incorporated (NYSE:GLW)

Number of Hedge Fund Holders: 26

Corning Incorporated (NYSE:GLW) is a global technology company that specializes in a diverse range of products and solutions, primarily in the fields of glass, ceramics, and related materials. In the second quarter of 2023, the company posted revenue of $3.48 billion, which fell by 7.4% from the same period last year. However, the company improved its free cash flow to $310 million.

On October 4, Corning Incorporated (NYSE:GLW) declared a quarterly dividend of $0.28 per share, which was in line with its previous dividend. In 2023, the company stretched its dividend growth streak to 13 years, which makes it one of the best dividend stocks from the tech sector. The stock has a dividend yield of 4.06%, as of October 19.

In addition to GLW, Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Oracle Corporation (NYSE:ORCL) are some of the best dividend stocks to consider within the tech sector.

At the end of Q2 2023, 26 hedge funds tracked by Insider Monkey reported having stakes in Corning Incorporated (NYSE:GLW). The collective value of these stakes is over $344 million. With over 2.8 million shares, Balyasny Asset Management was the company’s leading stakeholder in Q2.

10. Skyworks Solutions, Inc. (NASDAQ:SWKS)

Number of Hedge Fund Holders: 27

Skyworks Solutions, Inc. (NASDAQ:SWKS) is a California-based semiconductor company that specializes in designing and manufacturing integrated circuits used in wireless communication applications. On August 8, the company announced a 9.7% hike in its quarterly dividend to $0.68 per share. This marked the company’s ninth consecutive year of dividend growth, which places it as one of the best dividend stocks on our list. The stock’s dividend yield on October 19 came in at 2.89%.

In fiscal Q3 2023, Skyworks Solutions, Inc. (NASDAQ:SWKS) generated $305.7 million in operating cash flow. The company ended the quarter with nearly $740 million in cash and cash equivalents, up from $587 million in the prior-year period.

As of the end of Q2 2023, 27 hedge funds in Insider Monkey’s database owned stakes in Skyworks Solutions, Inc. (NASDAQ:SWKS), compared with 34 in the previous quarter. The consolidated value of these stakes is over $292.2 million.

The London Company mentioned Skyworks Solutions, Inc. (NASDAQ:SWKS) in its Q2 2023 investor letter. Here is what the firm has to say:

“Skyworks Solutions, Inc. (NASDAQ:SWKS) – SWKS underperformed during 02 reflecting slowing growth at smartphone manufacturers. In the most recent quarter, gross margins were temporarily impacted by a cut in fab utilization and the rightsizing of higher inventories. Looking longer-term, we believe SWKS’s expertise in RF semiconductor design and manufacturing, coupled with its broadening product portfolio are enduring competitive advantages.”

9. Seagate Technology Holdings plc (NASDAQ:STX)

Number of Hedge Fund Holders: 34

Seagate Technology Holdings plc (NASDAQ:STX) is a leading global manufacturer of data storage solutions. The company specializes in the development and production of various storage devices and technologies. Its cash position remained strong in fiscal Q4 2023 as it generated $218 million in operating cash flow and its free cash flow amounted to $168 million. In fiscal year 2023, the company returned $990 million to shareholders through dividends and share repurchases.

Seagate Technology Holdings plc (NASDAQ:STX) offers a quarterly dividend of $0.70 per share for a dividend yield of 4.09%, as recorded on October 19.

The number of hedge funds tracked by Insider Monkey owning stakes in Seagate Technology Holdings plc (NASDAQ:STX) grew to 34 in Q2 2023, from 26 in the previous quarter. The overall value of these stakes is over $1.5 billion.

8. International Business Machines Corporation (NYSE:IBM)

Number of Hedge Fund Holders: 51

An American multinational tech company, International Business Machines Corporation (NYSE:IBM) is next on our list of the best dividend stocks from the tech sector. The company has been raising its dividends for 28 consecutive years and currently pays a quarterly dividend of $1.66 per share. The stock’s dividend yield on October 19 came in at 4.74%.

International Business Machines Corporation (NYSE:IBM) reported a strong cash position in the first six months of 2023. The company’s operating cash flow year-to-date came in at $6.4 billion and its free cash flow stood at $1.4 billion. It also returned $1.5 billion to shareholders through dividends during the second quarter.

At the end of June 2023, 51 hedge funds in Insider Monkey’s database owned investments in International Business Machines Corporation (NYSE:IBM), up from 49 in the previous quarter. The consolidated value of these stakes is nearly $814 million.

Cisco Systems, Inc. (NASDAQ:CSCO)

Number of Hedge Fund Holders: 55

Cisco Systems, Inc. (NASDAQ:CSCO) is a leading player in the information technology (IT) and networking industries, providing a wide range of products and services. In fiscal Q4 2023, the company reported revenue of $15.2 billion, which showed a 16% growth from the same period last year. Its operating cash flow jumped by 62% on a year-over-year basis to $6 billion.

Cisco Systems, Inc. (NASDAQ:CSCO), one of the best dividend stocks, returned $1.6 billion to shareholders through dividends in the fourth quarter of 2023. The company has been raising its dividends consistently for the past 16 years. It currently pays a quarterly dividend of $0.39 per share and has a dividend yield of 2.90%, as of October 19.

At the end of Q2 2023, 55 hedge funds tracked by Insider Monkey reported having stakes in Cisco Systems, Inc. (NASDAQ:CSCO), worth collectively over $1.48 billion.

6. Texas Instruments Incorporated (NASDAQ:TXN)

Number of Hedge Fund Holders: 56

Texas Instruments Incorporated (NASDAQ:TXN) is a global semiconductor company that designs and manufactures a wide range of analog and digital integrated circuits. The company pays a quarterly dividend of $1.30 per share, having raised it by 4.8% in September this year. This marked the company’s 12th consecutive year of dividend growth, which makes it one of the best dividend stocks on our list. The stock’s dividend yield came in at 3.43% on October 19.

Microsoft Corporation (NASDAQ:MSFT), Apple Inc. (NASDAQ:AAPL), and Oracle Corporation (NYSE:ORCL) are some other dividend stocks from the tech industry that are grabbing investors’ attention.

As of the end of Q2 2023, 56 hedge funds owned stakes in Texas Instruments Incorporated (NASDAQ:TXN), up from 52 in the previous quarter. The collective value of these stakes is over $2.34 billion.

Click to continue reading and see 5 Best Technology Dividend Stocks To Buy.

AI Fire Sale: Insider Monkey’s #1 AI Stock Pick Is On A Steep Discount

Published on May 1, 2024 at by Inan Dogan, PhD

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

The whispers are turning into roars.

Artificial intelligence isn’t science fiction anymore.

It’s the revolution reshaping every industry on the planet.

From driverless cars to medical breakthroughs, AI is on the cusp of a global explosion, and savvy investors stand to reap the rewards.

Here’s why this is the prime moment to jump on the AI bandwagon:

Exponential Growth on the Horizon: Forget linear growth – AI is poised for a hockey stick trajectory.

Imagine every sector, from healthcare to finance, infused with superhuman intelligence.

We’re talking disease prediction, hyper-personalized marketing, and automated logistics that streamline everything.

This isn’t a maybe – it’s an inevitability.

Early investors will be the ones positioned to ride the wave of this technological tsunami.

Ground Floor Opportunity: Remember the early days of the internet?

Those who saw the potential of tech giants back then are sitting pretty today.

AI is at a similar inflection point.

We’re not talking about established players – we’re talking about nimble startups with groundbreaking ideas and the potential to become the next Google or Amazon.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 10,000% Return: This AI Stock is a Diamond in the Rough (But Our Help is Key!)

The AI revolution is upon us, and savvy investors stand to make a fortune.

But with so many choices, how do you find the hidden gem – the company poised for explosive growth?

That’s where our expertise comes in.

We’ve got the answer, but there’s a twist…

Imagine an AI company so groundbreaking, so far ahead of the curve, that even if its stock price quadrupled today, it would still be considered ridiculously cheap.

That’s the potential you’re looking at. This isn’t just about a decent return – we’re talking about a 10,000% gain over the next decade!

Our research team has identified a hidden gem – an AI company with cutting-edge technology, massive potential, and a current stock price that screams opportunity.

This company boasts the most advanced technology in the AI sector, putting them leagues ahead of competitors.

It’s like having a race car on a go-kart track.

They have a strong possibility of cornering entire markets, becoming the undisputed leader in their field.

Here’s the catch (it’s a good one): To uncover this sleeping giant, you’ll need our exclusive intel.

We want to make sure none of our valued readers miss out on this groundbreaking opportunity!

That’s why we’re slashing the price of our Premium Readership Newsletter by a whopping 75%.

For a ridiculously low price of just $24, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single restaurant meal!

Here’s why this is a deal you can’t afford to pass up:

The Name of the Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.
Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.
Lifetime Money-Back Guarantee: If you’re not absolutely satisfied with our service, we’ll provide a full refund ANYTIME, no questions asked.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

Head over to our website and subscribe to our Premium Readership Newsletter for just $24.
Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.
Sit back, relax, and know that you’re backed by our ironclad lifetime money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

Subscribe Now!

A New Dawn is Coming to U.S. Stocks

Published on May 2, 2024 at by Insider Monkey Staff

I work for one of the largest independent financial publishers in the world – representing over 1 million people in 148 countries.

We’re independently funding today’s broadcast to address something on the mind of every investor in America right now…

Should I put my money in Artificial Intelligence?

Here to answer that for us… and give away his No. 1 free AI recommendation… is 50-year Wall Street titan, Marc Chaikin.

Marc’s been a trader, stockbroker, and analyst. He was the head of the options department at a major brokerage firm and is a sought-after expert for CNBC, Fox Business, Barron’s, and Yahoo! Finance…

But what Marc’s most known for is his award-winning stock-rating system. Which determines whether a stock could shoot sky-high in the next three to six months… or come crashing down.

That’s why Marc’s work appears in every Bloomberg and Reuters terminal on the planet…

And is still used by hundreds of banks, hedge funds, and brokerages to track the billions of dollars flowing in and out of stocks each day.

He’s used this system to survive nine bear markets… create three new indices for the Nasdaq… and even predict the brutal bear market of 2022, 90 days in advance.

Click to continue reading…

Insider Monkey Ads

Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Log In

Sign Up