13 Best Cheap Dividend Stocks To Buy Right Now

8. QUALCOMM Incorporated (NASDAQ:QCOM)

Number of Hedge Fund Holders: 79

Forward P/E Ratio: 13.51

QUALCOMM Incorporated (NASDAQ:QCOM) ranks eighth on our list of the best cheap dividend stocks. The American semiconductor company has a strong financial position and advanced research and development capabilities, and is well-equipped to expand into high-growth sectors such as robotics chips. As automation transforms industries like manufacturing, logistics, and services, the demand for sophisticated robotics technology is expected to grow, creating new opportunities for the company. Its cutting-edge semiconductor designs, including custom “Oryon” cores featured in the Snapdragon X Elite and Snapdragon 8 Elite, deliver high performance and energy efficiency—critical for real-time decision-making in robotics applications.

In fiscal Q1 2025, QUALCOMM Incorporated (NASDAQ:QCOM) reported $11.7 billion in revenue, marking a 17.6% year-over-year increase. This was the third consecutive quarter of double-digit revenue growth, setting a new quarterly sales record. The chip division (QCT) contributed $10.1 billion in revenue, up 20% from the previous year. Smartphone-related sales rose 13% to $7.6 billion, while automotive revenue saw a 61% surge, reaching $961 million. Meanwhile, the Internet of Things (IoT) segment grew 36% to $1.5 billion.

QUALCOMM Incorporated (NASDAQ:QCOM) maintained a strong financial position in the latest quarter, with over $3.1 billion in cash and cash equivalents. Operating cash flow reached nearly $4.6 billion, and the company returned $942 million to shareholders through dividend payments. The company’s quarterly dividend comes in at $0.85 per share for a dividend yield of 2.18%, as of March 6. QCOM is a reliable dividend payer with 20 years of dividend growth under its belt.