In this article, we discuss 5 technology dividend stocks with over 4% yield. If you want our detailed analysis of these stocks, go directly to 10 Technology Dividend Stocks with Over 4% Yield.
5. NVE Corporation (NASDAQ:NVEC)
Dividend Yield as of February 11: 7.15%
Number of Hedge Fund Holders: 7
NVE Corporation (NASDAQ:NVEC) is a company that leverages spintronics, a nanotechnology that NVE Corporation (NASDAQ:NVEC) helped create, which uses electron spin rather than electron charge to acquire, store, and transmit information. NVE Corporation (NASDAQ:NVEC) designs and develops high-performance spintronic products, including sensors and couplers, that are used for transmitting data. The company has also licensed its spintronic magnetoresistive random access memory technology, commonly known as MRAM.
NVE Corporation (NASDAQ:NVEC) posted its financial results on October 21 for Q2 FY22, announcing that total revenue for the period increased 56% to $6.82 million, up from $4.38 million in the prior-year quarter. The higher revenue was the result of a 59% increase in product sales. Net income over the period jumped 64% to $3.65 million, or $0.75 per share, which is an increase from $2.22 million, or $0.46 per share, from the preceding-year quarter.
The largest NVE Corporation (NASDAQ:NVEC) stakeholder from Q3 2021 is Royce & Associates, increasing its stake in the company by 6% as of September, holding 450,561 shares worth $28.8 million. Overall, 7 hedge funds in the third quarter database of Insider Monkey reported owning stakes worth $51.95 million in NVE Corporation (NASDAQ:NVEC).
In addition to Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT), and Intel Corporation (NASDAQ:INTC), elite funds are steadily piling into NVE Corporation (NASDAQ:NVEC).
4. MIND C.T.I. Ltd (NASDAQ:MNDO)
Dividend Yield as of February 11: 8.50%
Number of Hedge Fund Holders: 2
MIND C.T.I. Ltd (NASDAQ:MNDO) is an Israel-based software company offering solutions such as accounting software, telecom billing, cloud services, managed services, and IT consultancy. MIND C.T.I. Ltd (NASDAQ:MNDO) is one of the top dividend tech stocks, delivering a yield of 8.50%.
MIND C.T.I. Ltd (NASDAQ:MNDO) reported Q3 results on November 8, posting a GAAP EPS of $0.07. Revenue over the period increased 18.6% from the preceding year quarter, equaling $7 million.
Jim Simons Renaissance Technologies owns 49,642 MIND C.T.I. Ltd (NASDAQ:MNDO) shares in Q3 2021, worth $156,000. Billionaire Israel Englander’s Millennium Management is another stakeholder of the company, owning a $37,000 position.
3. Lumen Technologies, Inc. (NYSE:LUMN)
Dividend Yield as of February 11: 9.91%
Number of Hedge Fund Holders: 25
Lumen Technologies, Inc. (NYSE:LUMN) is an American telecommunications company, headquartered in Louisiana, specializing in network services, cloud security, managed services, big data as a service, multi-cloud management, SaaS apps, cloud connect, internet, phone, and television. Offering a yield of 9.91%, Lumen Technologies, Inc. (NYSE:LUMN) is one of the top technology dividend stocks to invest in.
In the third quarter earnings report, published on November 3, Lumen Technologies, Inc. (NYSE:LUMN) announced earnings per share of $0.49, beating estimates by $0.12. The $4.89 billion revenue was down 5.42% on a year-over-year basis, missing estimates by $16.29 million.
According to a report on December 9, The U.S. Army Reserve Command recently selected Lumen Technologies, Inc. (NYSE:LUMN) to provide VPN services, including remote access solutions, to more than 650 army reserve locations across the country. The 11-year task order is worth $23 million and was awarded under the General Services Administration’s 15-year, $50 billion Enterprise Infrastructure Solutions program.
On November 4, Citi analyst Michael Rollins upgraded Lumen Technologies, Inc. (NYSE:LUMN) to Neutral from Sell with a $13 price target following the Q3 results. Lumen Technologies, Inc. (NYSE:LUMN) surprised with its revised capital allocation plan, and the analyst believes that maintaining the dividend combined with the accelerated repurchase of 7.5% of the outstanding-shares “are likely to support the stock.”
As of Q3 2021, 25 hedge funds in the third quarter database of Insider Monkey were bullish on Lumen Technologies, Inc. (NYSE:LUMN), down from 33 funds in the preceding quarter. Knoll Capital Management holds a $1.2 million stake in the company as of September.
Here is what Longleaf Partners Fund has to say about Lumen Technologies, Inc. (NYSE:LUMN) in its Q3 2021 investor letter:
“The best news and the biggest market reaction surprise in the quarter was at our largest holding Lumen. After much engagement with Southeastern following our amended 13D filed last December, the company announced that it was selling two assets – the slowest growth part of its legacy copper landline business in 21 states in the US and the Latin American (therefore highest discount rate / lowest multiple) part of its enterprise fiber business. At a time when the company was trading at 5.5x EBITDA (earnings before interest, taxes, depreciation and amortization) for all its assets, it sold the legacy landline assets (i.e., the lowest multiple part of its lowest multiple business) for that same 5.5x and the Latin American assets (i.e., the lowest multiple part of its higher multiple business) for 9x. The absolute amount of gross proceeds was almost equal to the company’s market cap. We believe the remaining legacy assets are worth greater than 5.5x and the remaining fiber/enterprise assets are worth greater than 9x, especially because infrastructure funds have recently paid mid teens multiples for similar fiber assets. Thus, we now have a higher quality, higher growth, lower leverage mix of assets at Lumen. But when this news was announced, Lumen’s stock price initially went down, due to weak communications around future growth and capital allocation on the conference call. This communication failure can be fixed much more easily than a business failure, and we were encouraged that the company authorized a share repurchase to take advantage of the market’s short-term misunderstanding. The stock price stabilized and increased as the quarter went on (although two annoyingly-timed, negative sell side reports hit the stock on September 30), but there is still an enormous gap between price and (growing) value.”
2. Gilat Satellite Networks Ltd. (NASDAQ:GILT)
Dividend Yield as of February 11: 12.07%
Number of Hedge Fund Holders: 10
Gilat Satellite Networks Ltd. (NASDAQ:GILT) is a company from Israel providing satellite-based broadband communications, using a cloud-based VSAT network platform, high-speed modems, high performance on-the-move antennas, and high efficiency, high-power solid state amplifiers, among other cutting-edge technologies. Gilat Satellite Networks Ltd. (NASDAQ:GILT) assists with in-flight connectivity, land mobility, cellular backhaul, broadband access, enterprise communications, and defense and public safety applications across 90 countries.
In October and November, Gilat Satellite Networks Ltd. (NASDAQ:GILT) signed contracts for mobile network expansion and cellular backhaul services in North America, Asia, and Africa. In addition to that, Gilat Satellite Networks Ltd. (NASDAQ:GILT) announced on November 30 a follow-on order of over $5 million from a Tier-1 US global military terminal provider for solid state power amplifiers, used for satellite communication by militaries throughout the world.
In the Q3 results announced on November 9, Gilat Satellite Networks Ltd. (NASDAQ:GILT) posted earnings per share of $0.01, exceeding estimates by $0.02. The $49.91 million revenue missed estimates by $11.91 million. The company offers a dividend yield of 12.07%.
Of the 10 hedge funds that were bullish on Gilat Satellite Networks Ltd. (NASDAQ:GILT) in the third quarter, Frank Fu’s CaaS Capital is one of the leading company stakeholders. Gilat Satellite Networks Ltd. (NASDAQ:GILT) is a new addition in CaaS Capital’s Q3 portfolio, with the hedge fund buying 668,139 shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT), worth $6 million.
1. QIWI plc (NASDAQ:QIWI)
Dividend Yield as of February 11: 15.72%
Number of Hedge Fund Holders: 6
QIWI plc (NASDAQ:QIWI) is one of the highest yielding tech dividend stocks, with a yield of 15.72%. QIWI plc (NASDAQ:QIWI) is a Russian online payment service provider, offering digital wallets and virtual cards, using payment systems like the QIWI Bank, CONTACT money transfer system, Factoring PLUS, Flocktory, and QPlatform.
On November 23, QIWI plc (NASDAQ:QIWI) posted its Q3 results, announcing earnings per share of $0.58, exceeding estimates by $0.13. The quarterly revenue equaled $86.31 million, outperforming estimates by $2.01 million.
In Q3 2021, 6 hedge funds in the database of Insider Monkey reported owning stakes worth $14.1 million in QIWI plc (NASDAQ:QIWI). One of the leading company stakeholders is Marshall Wace LLP, boosting its stake in QIWI plc (NASDAQ:QIWI) by 64% in the third quarter, holding 316,019 shares worth $2.65 million.
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