Investing

5 'Strong Buy' Blue Chip Stocks With Dividend Hikes Expected This Week

Broadcom

This tech leader has reported solid earnings this year and is a member of the BofA Securities US 1 list of top stocks. Broadcom Inc. (NASDAQ: AVGO) has an extensive semiconductor product portfolio that addresses applications within the wired infrastructure, wireless communications, enterprise storage and industrial end markets.

Applications for Broadcom’s products in its end markets include data center networking, home connectivity, broadband access, telecommunications equipment, smartphones and base stations, servers and storage, factory automation, power generation and alternative energy systems and displays.

Shareholders currently receive a 2.61% yield. The company is expected to raise the dividend by 40 cents per share to $4.00.

The BofA Securities price target is $650, while the consensus target is lower at $573.37. Broadcom stock traded on Monday at $560.40.

Fortune Brands Home & Security

With construction and new homes still booming, this is another great value play. Fortune Brands Home & Security Inc. (NYSE: FBHS) provides home and security products for residential home repair, remodeling, new construction and security applications.

Its Plumbing segment manufactures, assembles and sells faucets, accessories, kitchen sinks and waste disposals in the United States, China, Canada, Mexico, Southeast Asia, Europe and South America directly through its own sales force, as well as through independent manufacturers’ representatives to wholesalers, home centers, mass merchandisers and industrial distributors.

The Outdoors & Security segment offers fiberglass and steel entry door systems under the Therma-Tru brand; storm, screen and security doors under the Larson brand; composite decking and railing under the Fiberon brand; and urethane millwork under the Fypon brand. This segment also manufactures, sources and distributes locks, safety and security devices, and electronic security products under the Master Lock and American Lock brands; and fire-resistant safes, security containers and commercial cabinets under the SentrySafe brand.

Investors currently receive a 1.00% annual dividend. The dividend is expected to rise from $0.28 per share to $0.32.

The $127 BofA Securities price target is well above the $118.43 consensus estimate. The shares recently traded at $105.00.

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