Investing

Jump on These 7 Tech Giants With Huge Dividends for Big Future Gains

The Nasdaq is down a stunning 28% from the 52-week high posted last November. There is a strong possibility that it could trade lower before all the carnage is complete. However, the comparisons to the dot-com bubble and explosion in 2000 are somewhat misguided, as many of the victims of the huge selling this year are solid companies that make good money, are prominent in their respective technology arenas and will flourish long after the current bear market has passed.

We decided to screen our 24/7 Wall St. technology universe to look for dividend-paying sector and industry leaders that have been caught up in the “sell everything and head for the hills” risk-off maelstrom and are trading at bargain-basement prices now.

While going all-in now is not the best strategy given the potential for more downside, carefully scaling partial positions into these top stocks makes sense. While all are rated Buy at top Wall Street firms, it is important to remember that no single analyst report should be used as a sole basis for any buying or selling decision.

Broadcom

The company reported solid first-quarter earnings and is a top pick across Wall Street for dividend growth. 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.

The BofA analysts and many on Wall Street are very positive on the company’s massive $10 billion share repurchase authorization, which represents about 4.2% of the company’s market cap.

Broadcom stock investors receive a 3.02% dividend. BofA Securities has a Wall Street high price target of $780. The consensus target is $685.32, and the stock closed trading on Friday at $543.19.

Cisco

Investors who are more conservative may want to consider this mega-cap tech leader, which recently posted outstanding results. Cisco Systems Inc. (NASDAQ: CSCO) designs, manufactures and sells internet protocol (IP) based networking products and services related to the communications and information technology industry worldwide.

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