In times of market turbulence and uncertainty, dividend-yielding stocks often attract the attention of investors seeking steady returns. These companies typically generate high free cash flows and reward shareholders with substantial dividend payouts. For those looking to dive deeper into analyst opinions on their chosen stocks, Benzinga offers the Analyst Stock Ratings page, a valuable resource within its extensive analyst ratings database. This tool allows traders to sift through these ratings and sort by analyst accuracy. Here, we highlight three technology sector stocks known for high dividend yields, as viewed through the lens of Wall Street's most accurate analysts.
Starting with Xerox Holdings Corporation (XRX), this company boasts a remarkable dividend yield of 11.24%. However, analysts express caution. JP Morgan's Samik Chatterjee, with an impressive accuracy rate of 70%, retained an Underweight rating while reducing the price target from $11 to $8 as of October 30th. Similarly, Loop Capital's Ananda Baruah, whose accuracy stands at 75%, maintained a Hold rating and dropped the price target from $14 to $11 back in August. Recently, on October 29th, Xerox announced third-quarter financial results that fell short of expectations, prompting a revision of its annual outlook.
Next is Silicon Motion Technology Corporation (SIMO), offering a dividend yield of 3.57%. Analysts here are more optimistic. Needham's Quinn Bolton, boasting a commendable 79% accuracy rate, reiterated a Buy rating while adjusting the price target from $94 to $75 on November 1st. Further endorsement came from Wedbush's Matt Bryson, who reiterated an Outperform rating with a price target of $90 as of October 2nd. His accuracy is notable at 81%. On October 30th, Silicon Motion Technology shared quarterly earnings that exceeded market expectations, attracting further attention.
Lastly, International Business Machines Corporation (IBM) presents a dividend yield of 3.13%. Analyst opinions are mixed. BMO Capital's Keith Bachman maintained a Market Perform rating and adjusted the price target upward from $235 to $260 as reported on October 24th. His accuracy rate is an admirable 81%. On the other hand, Jefferies' Brent Thill also held a Hold rating while raising the price target from $200 to $245 on October 21st, maintaining a respectable 77% accuracy rate. IBM's third-quarter revenue of $14.968 billion fell short of the consensus estimate of $15.07 billion, reported by Benzinga Pro on October 23rd, reflecting a quarterly loss from continuing operations. These insights demonstrate the varying market sentiments surrounding IBM.
For investors eyeing tech stocks with reliable dividend yields, these analyses provide crucial insights. Keeping abreast of the latest insights from top-performing analysts can be an integral part of formulating a savvy investment strategy.
