Retirement Stock Portfolio: 5 Safe Tech Stocks To Consider

4. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 72

On October 13, QUALCOMM Incorporated (NASDAQ:QCOM), an American multinational company announced a quarterly dividend of $0.68 per share, yielding 2.21%. The company has grown its dividend by 14.7% in the past 3 years. QUALCOMM Incorporated (NASDAQ:QCOM) ranks fourth on our list of the best stocks for retirement.

This September, Tigress Financial lifted its price target on QUALCOMM Incorporated (NASDAQ:QCOM) to $195, with a Buy rating on the shares. The firm’s analyst noted that the company will benefit from the raised smartphone demand in the coming quarters. QUALCOMM Incorporated (NASDAQ:QCOM) gained 95.7% in the past five years.

In fiscal Q3 2021, QUALCOMM Incorporated (NASDAQ:QCOM) posted an EPS of $1.92, beating the estimates by $0.24. The company’s revenue stood at $8.06 billion, up 64.5% from the prior-year quarter. As of Q2 2021, 72 hedge funds were bullish on QUALCOMM Incorporated (NASDAQ:QCOM), compared with 73 in the previous quarter. The total value of these stakes is over $4.04 billion.

ClearBridge Investments mentioned QUALCOMM Incorporated (NASDAQ:QCOM) in its Q1 2021 investor letter. Here is what the firm has to say:

“Within IT, we have also increased exposure to a cyclical semiconductor industry currently working through a severe supply shortage due to several years of capacity reductions, COVID-19 shutdowns and one-off production delays as well as demand resilience in areas like autos and smartphones. The main risk for semiconductors is short-term revenue pressure until capacity catches up with demand, which hurt wireless chipmaker Qualcomm. Looking past current constraints, we expect the industry to see a strong second half and solid growth in 2022.”