As has been the case for years, the technology sector continues to provide much of the growth in the United States and around the world, but what if you want to own technology stocks but also need income? The 10-year Treasury bond has sold off some recently but still yields a puny 1.61%, and the S&P 500 yield remains near its lowest in 20 years. So what are investors with a higher risk tolerance that need income and growth to do?
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One great idea is to look at the technology stocks that also pay solid and dependable dividends. We screened our 24/7 Wall St. research universe looking for well-known technology companies that pay big dividends and have solid growth prospects for the rest of the fourth quarter, 2022 and beyond. We found five that look like outstanding ideas now, and while all five 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 decisions.
ASE Technology
While perhaps off the radar, this stock offers investors massive total return potential. ASE Technology Holding Co. Ltd. (NYSE: ASX) provides a range of semiconductor packaging and testing, as well as electronic manufacturing services, in the United States, Asia, Europe and elsewhere.
The company offers packaging services, including flip-chip ball grid array (BGA), flip-chip chip-scale package (CSP), advanced chip-scale packages, quad flat packages, low-profile and thin quad flat packages, bump chip carrier and quad flat no-lead (QFN) packages, advanced QFN packages, plastic BGAs and 3D chip packages. It offers stacked die solutions in various package types and copper and silver wire bonding solutions.
ASE also provides advanced packages, such as flip-chip BGA; heat-spreader FCBGA; flip-chip CSP; hybrid FCCSP; flip-chip package in package and package on package (POP); advanced single-sided substrate; high-bandwidth POP; fan-out wafer-level packaging; SESUB; and 2.5D silicon interposer.
In addition, the company offers IC wire bonding packages; system-in-package products (SiP) and modules; and interconnect materials, as well as assembles automotive electronic products. Further, it provides a range of semiconductor testing services, including front-end engineering testing, wafer probing, logic/mixed-signal/RF module and SiP/MEMS/discrete final testing, and other test-related services, as well as drop shipment services.
Shareholders receive a 3.08% dividend. BofA Securities has an $11 price target on ASE Technology stock. The consensus target is $11.43, and the last trade for Tuesday was reported at $7.06 a share.
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