5 Best Income Stocks to Buy According to Analysts

2. QUALCOMM Incorporated (NASDAQ:QCOM)

Upside Potential as of May 1: 25.5%
Average Price Target Based on Analyst Ratings: $146.6

QUALCOMM Incorporated (NASDAQ:QCOM) is a California-based multinational semiconductor company. In March 2023, the company raised its quarterly dividend for the 20th consecutive year, which makes it one of the best dividend stocks. It currently pays a quarterly dividend of $0.80 per share and has a dividend yield of 2.73%, as of May 1.

In March, Susquehanna upgraded QUALCOMM Incorporated (NASDAQ:QCOM) to Positive and also lifted its price target on the stock to $140, appreciating the company’s China opening.

At the end of December 2022, 82 hedge funds in Insider Monkey’s database owned stakes in QUALCOMM Incorporated (NASDAQ:QCOM), up from 80 in a quarter earlier. These stakes have a consolidated value of nearly $2.4 billion.

Madison Investment Management mentioned QUALCOMM Incorporated (NASDAQ:QCOM) in its Q4 2022 investor letter. Here is what the firm has to say:

“QUALCOMM Incorporated (NASDAQ:QCOM) continues to be challenged by headwinds in the smartphone supply chain with an expected decline in units for 2022. Despite solid gains in the Internet of Things and Auto segments, Qualcomm’s dominant business remains the smartphone market. We expect to see stabilization of the smartphone market in 2023, including a recovery in China.”