30 Growing Dividend Stocks with Low PE Ratios

9. QUALCOMM Incorporated (NASDAQ:QCOM)

Forward P/E Ratio as of April 22: 11.71

QUALCOMM Incorporated (NASDAQ:QCOM) is a California-based semiconductor manufacturing company. In fiscal Q1 2025, the company delivered impressive results, with revenue climbing to $11.7 billion—a 17.6% increase from the same period last year. This marked the third straight quarter of double-digit revenue growth and set a new record for the company. Its QCT segment, which includes core chip operations, brought in $10.1 billion, up 20% year-over-year. Notable contributors to this growth included a 13% rise in smartphone chip sales to $7.6 billion, a 61% jump in automotive revenue to $961 million, and a 36% increase in IoT-related sales to $1.5 billion.

While QUALCOMM Incorporated (NASDAQ:QCOM) is widely recognized for its wireless technology, its product lineup also spans software, processors, and modems. Its Snapdragon SoCs power several prominent VR platforms, including Axon’s VR training program, which uses the HTC Vive Focus 3 headset driven by Qualcomm’s Snapdragon XR2 chipset.

QUALCOMM Incorporated (NASDAQ:QCOM) currently pays a quarterly dividend of $0.89 per share for a dividend yield of 2.57%, as of April 22. The company wrapped up the quarter with more than $3.1 billion in cash and cash equivalents. It also produced nearly $4.6 billion in operating cash flow and returned $942 million to shareholders through dividends. The company has been rewarding shareholders with growing dividends for the past 21 years.