5 Best Cheap Technology Stocks to Invest In

1. Microsoft Corporation (NASDAQ:MSFT)

Number of Hedge Fund Holders: 258

Redmond, Washington-based Microsoft Corporation (NASDAQ:MSFT) is a leading technology company with products include operating systems, cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. Microsoft Corporation (NASDAQ:MSFT) boasts over 1.4 billion monthly active devices running its flagship operating system, Windows 10 or 11.

As of September 26, Microsoft Corporation (NASDAQ:MSFT) shares have lost 29.26% of their value on year-to-date basis and trade at a forward P/E ratio of 19.91. Majority of analysts are bullish about the prospects of Microsoft Corporation (NASDAQ:MSFT) as they hold an average price target of $332.31, 40% higher than the current price.

On September 20, board of directors of Microsoft Corporation (NASDAQ:MSFT) declared a quarterly dividend of $0.68 per share, reflecting a 10% increase over the previous quarter’s dividend. Following the announcement, Morgan Stanley analyst Keith Weiss said the dividend hike highlights the stock’s “durable high-teens total return profile” when factored along with Microsoft’s high-teens percentage EPS growth. The analyst maintains an ‘Overweight’ rating and a price target of $354 for the shares.

As of Q2 2022, Microsoft Corporation (NASDAQ:MSFT) is the most sought-after stock among the 895 hedge funds tracked by Insider Monkey as 258 of these hedge funds held shares in the software giant, valued at $56 billion.

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