Tech stocks are primarily known for their upside potential. But wouldn’t they be all the more exciting if they came up with a lucrative dividend yield as well?
If you agree, read on and explore our list of top 3 dividend stocks in tech with potential to significantly outperform.
Juniper Networks Inc (NYSE: JNPR)
Juniper Networks has gained some 20% since the start of this year but it may still be undervalued considering Wall Street sees upside in it to over $40 on average.
That signals potential for another 15% gain. Plus, JNPR currently pays a dividend yield of 2.48% as well.
Juniper Networks stock is worth owning also because it has a single native AI platform which helps cut operating costs by up to 85% in some cases.
Note that HPE is currently in the process of acquiring Juniper Networks Inc for about $14 billion to accelerate AI-driven innovation. The all-cash agreement values each share of JNPR at $40.
Skyworks Solutions Inc (NASDAQ: SKWS)
Skyworks Solutions is a dividend stock in tech that Kevin Cassidy of Rosenblatt Securities expects will outperform in the coming months.
His $120 price objective on SKWS indicates roughly 15% upside from here and the semiconductor firm pays a dividend yield of 2.55% as well.
Skyworks stock is worth owning also because it has been raising its dividend payments for about ten years.
Liam Griffin – the chief executive of Skyworks Solutions Inc recently parked $1.0 million in SKWS that signals insider confidence in what the future holds for the Nasdaq-listed firm that showcased industrial and automotive isolation solutions at PCIM Europe last week.
Cisco Systems Inc (NASDAQ: CSCO)
Cisco has been in a downtrend this year and is currently exchanging hands at under $46. Still, Wall Street sees upside in shares of the networking hardware company to $53.51 on average that spells “undervalued”.
What makes CSCO all the more exciting to own in 2024 is its rather healthy 3.48% dividend yield. The multinational based out of San Jose, California has raised dividends for thirteen years straight.
Investors should consider owning Cisco stock also because it reported market-beating financial results for its third quarter in May.
At the time, the Nasdaq-listed firm also issued encouraging guidance. CSCO forecasts its revenue to fall between $53.6 billion and $53.8 billion on up to $3.71 a share of adjusted earnings this year – ahead of analysts at $53.14 billion and $3.67 per share, respectively.
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