This off-the-radar idea could hold the most value of all the dividend tech companies we found. Cogent Communications Holdings Inc. (NASDAQ: CCOI) provides high-speed internet access and private network and data center colocation space services, primarily to small and medium-sized businesses, communications service providers and other bandwidth-intensive organizations in North America, Europe, Asia, Australia and Brazil.
The company offers on-net internet access and private network services to law firms, financial services firms, advertising and marketing firms, other professional services businesses, other internet service providers, telephone companies, cable television companies, web hosting companies, content delivery network companies and commercial content and application service providers. It also provides on-net services in carrier-neutral data centers.
Here, investors receive a 4.33% dividend. Citigroup has an $89 price objective, while the consensus target price is $75. The final Cogent Communications stock trade on Wednesday came in at $65.79.
This company continues to be a huge player in the fiber optic world. Corning Inc. (NYSE: GLW) is a technology pioneer that manufactures LCD glass for flat-panel displays for multiple product lines.
Telecommunications (30% of sales) produces optical fiber and cable, component hardware and equipment, and photonic components for the telecommunications, CATV and networking industry. In addition, the company’s Environmental Technologies division (12% of sales) produces specialized glass, glass ceramic and polymer-based products for the automotive industry. The future remains solid for this diversified digital world leader.
Shareholders receive a 2.77% dividend. The BofA Securities $34 price target compares to the $26.82 consensus target. Corning stock was last seen trading at $33.07 per share.
This solid network stock has been on a long roller-coaster ride for investors over the past two years. Juniper Networks Inc. (NYSE: JNPR) designs, develops and sells network products and services worldwide. The company offers various routing products, such as ACX series universal access routers to deploy new high-bandwidth services; MX series Ethernet routers that function as a universal edge platform; PTX series packet transport routers; cloud customer premises equipment; and NorthStar controllers.
The company also provides switching products, including EX series Ethernet switches to address the access, aggregation and core layer switching requirements of micro branch, branch office, and campus and data center environments, as well as QFX series of core, spine and top-of-rack data center switches. In addition, the company offers security products comprising SRX series services gateways for the data centers; Branch SRX family that provides integrated firewall capabilities; vSRX Virtual Firewall that delivers various features of physical firewalls; and Sky Advanced Threat Prevention, a cloud-based service for static and dynamic analysis.
Juniper Networks reported in-line second-quarter results despite COVID-19 creating supply chain constraints and weighing on enterprise demand. Revenues declined 1.5% year over year, with all customer verticals and product segments either flat or down. However, there are strong order trends in place that could improve with a strengthening economy.
Shareholders receive 3.51% dividend. JPMorgan has set a $28 price target on Juniper Networks stock. The posted consensus target is $25.00, and Wednesday’s closing price was $23.23 a share.
These five stocks have solid upside to the various firms’ price targets and also offer investors perhaps a more comfortable entry point than some technology momentum plays. There is a good chance the market could stay very volatile, and these could be good vehicles for a continued sideways to downwards move. For investors with longer time horizons looking to the sector, these dividend-paying giants all make sense now.