Billionaires George Soros, Steve Cohen Like These 2 Semiconductor Stocks - Here's Why - Qualcomm (NASDAQ:QCOM), Analog Devices (NASDAQ:ADI)

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Soros Fund Management and Point72 Asset Management were founded by billionaires George Soros and Steve Cohen, respectively.

After analyzing both hedge funds, Benzinga found two semiconductor stocks offering dividends that both funds own. Soros Fund Management currently owns more than 120,000 shares of Analog Devices and more than 200,000 shares of Qualcomm.

Furthermore, Point72 Asset Management holds over 350,000 shares of Qualcomm and more than 550,000 shares of Analog Devices.

See Also: Why Qualcomm Shares Are Falling

Learn more about these two semiconductor companies offering dividends that both hedge funds hold.

  • Qualcomm Inc. QCOM is offering a dividend yield of 2.69% or $3.00 per share annually, utilizing quarterly payments, with a stellar track record of increasing its dividends for 18 consecutive years. The San Diego, California-based develops and licenses wireless technology and designs chips for smartphones, and is a leader in 5G network technology as well. During the third quarter of fiscal 2022, Qualcomm returned $1.3 billion to stockholders, including $842 million in cash dividends paid, and $500 million through repurchases of 4 million shares of common stock.
  • Analog Devices Inc. ADI is offering a dividend yield of 2.18% or $3.04 per share annually, making quarterly payments, with a superb track record of increasing its dividends for 18 consecutive years. The Wilmington, Massachusetts-based company is a leading analog, mixed-signal, and digital signal processing chipmaker, serving tens of thousands of customers, and more than half of its chip sales are made to industrial and automotive end markets. Analog Devices increased share repurchases to $906 million and paid $394 million in dividends, returning a total of $1.3 billion to shareholders during the third quarter.

Also Read: Looking To Profit From Bounce In Semiconductor Stocks, AMD, Nvidia? This ETF Offers 3x Leverage

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Image and article originally from www.benzinga.com. Read the original article here.