5 Most Undervalued Tech Stocks to Buy According to Hedge Funds

4. Cisco Systems, Inc. (NASDAQ:CSCO)

Number of Hedge Fund Holders: 68

Cisco Systems, Inc. (NASDAQ:CSCO) is one of the most notable technology stocks. Cisco Systems, Inc. (NASDAQ:CSCO) has increased its dividends for the last 11 years in a row. In December, Cisco Systems, Inc. (NASDAQ:CSCO) declared a $0.38 per share quarterly dividend. Forward dividend yield at the time came in at 3.15%. The dividend was payable on January 25.

Cisco Systems, Inc. (NASDAQ:CSCO) has diversified its business significantly over the past few years. It is no longer just a router or switches company. It has entered the enterprise hardware and software space. In the last quarter, over 40% of Cisco Systems, Inc. (NASDAQ:CSCO)’s revenue was generated through subscriptions.

As of the end of the third quarter, 68 hedge funds tracked by Insider Monkey reported having stakes in Cisco Systems, Inc. (NASDAQ:CSCO). The total value of these stakes was about $2.8 billion. The biggest stakeholder of Cisco Systems, Inc. (NASDAQ:CSCO) was John Overdeck and David Siegel’s Two Sigma Advisors, with a $388 million stake.