Investors seek high-yield tech stocks like HP Inc, OpenText Corporation, and Cisco Systems Inc.

From Nasdaq: 2024-06-14 20:38:11

Tech giants like Microsoft, Apple, and Nvidia are vying for the top spot in market cap. Apple briefly took the lead after an AI announcement at WWDC24, but Microsoft is back in the number one position. Meanwhile, Nvidia is steadily gaining ground in the trillion-dollar club due to high demand for its AI-focused products.

Investors are flocking to high-value tech companies, but the sector’s price volatility may not suit risk-averse income investors. To balance growth and safety, consider investing in high-yield tech stocks. Using Barchart’s Stock Screener, the top three highest-yielding buy-rated tech stocks were identified: HP Inc, OpenText Corporation, and Cisco Systems Inc.

HP Inc, known for computer products and solutions, saw revenue drop by 14.6% YOY in 2023, but EPS increased by 9%. With a quarterly dividend of $0.2756 per share, HPQ offers a 3.02% forward yield and is rated a moderate buy by analysts.

OpenText Corporation, a networking and tech company, experienced a 28.4% YOY increase in revenues in FY’23. With a $1.00 annual dividend rate, OTEX offers a 3.50% yield and is expected to raise payouts. Analysts have given OTEX a 3.80 rating.

Cisco Systems Inc, a leading networking company, reported an 11% YOY revenue increase in FY’23, with EPS reaching $3.07. Cisco offers a $1.60 forward annual dividend rate, translating to a 3.51% yield. Analysts rate CSCO stock as a moderate buy with an average score of 3.5.

Tim S.A. ADR was excluded from the list due to fluctuating dividend payments. For a balanced investment approach, consider high-yield tech stocks to benefit from both dividends and sector growth. This strategy provides a safe and income-focused portfolio within the booming tech industry.



Read more at Nasdaq: 3 Highest-yielding Tech Stocks to Buy Now