5 Technology Dividend Stocks with Over 4% Yield

2. Gilat Satellite Networks Ltd. (NASDAQ:GILT)

Dividend Yield as of February 11: 12.07%

Number of Hedge Fund Holders: 10

Gilat Satellite Networks Ltd. (NASDAQ:GILT) is a company from Israel providing satellite-based broadband communications, using a cloud-based VSAT network platform, high-speed modems, high performance on-the-move antennas, and high efficiency, high-power solid state amplifiers, among other cutting-edge technologies. Gilat Satellite Networks Ltd. (NASDAQ:GILT) assists with in-flight connectivity, land mobility, cellular backhaul, broadband access, enterprise communications, and defense and public safety applications across 90 countries. 

In October and November, Gilat Satellite Networks Ltd. (NASDAQ:GILT) signed contracts for mobile network expansion and cellular backhaul services in North America, Asia, and Africa. In addition to that, Gilat Satellite Networks Ltd. (NASDAQ:GILT) announced on November 30 a follow-on order of over $5 million from a Tier-1 US global military terminal provider for solid state power amplifiers, used for satellite communication by militaries throughout the world. 

In the Q3 results announced on November 9, Gilat Satellite Networks Ltd. (NASDAQ:GILT) posted earnings per share of $0.01, exceeding estimates by $0.02. The $49.91 million revenue missed estimates by $11.91 million. The company offers a dividend yield of 12.07%.

Of the 10 hedge funds that were bullish on Gilat Satellite Networks Ltd. (NASDAQ:GILT) in the third quarter, Frank Fu’s CaaS Capital is one of the leading company stakeholders. Gilat Satellite Networks Ltd. (NASDAQ:GILT) is a new addition in CaaS Capital’s Q3 portfolio, with the hedge fund buying 668,139 shares of Gilat Satellite Networks Ltd. (NASDAQ:GILT), worth $6 million.