This article discusses the 11 best telecom stocks to invest in.If you want to see more stocks in this selection, check out 5 best telecom stocks to invest in.
Technology, media and telecom markets have been rattled this year as global economic uncertainty pervades. However, the volatility of the economic environment has not hindered growth and innovation in this sector. As the world undergoes digital transformation, multiple value-add and disruption opportunities are emerging. This digital transformation has been happening for over a decade and has been accelerated during the pandemic.
Geopolitical and environmental pressures, the recession crisis, and persistent volatility in the global economy highlight the need for companies to adopt cost-effective business models, driving has evolved.Global telecom market climbed It will increase from $2,642.1 billion in 2021 to $2,879.7 billion in 2022, representing a compound annual growth rate (CAGR) of 9.0%. He is projected to reach $3,629.04 billion at a CAGR of 6.0% in 2026. Asia-Pacific will be the largest region in the telecom market in 2021, while North America will be her second-largest region.
Top trends shaping the future of communications include 5G technology, Internet of Things (IoT), artificial intelligence, cloud computing, cybersecurity, blockchain, and more. Some of the best stocks to consider investing in the telecoms sector include T-Mobile US, Inc. (NASDAQ:TMUS), Comcast Corporation (NASDAQ:CMCSA) and AT&T Inc. (NYSE:T). Given that the iShares US Telecommunications ETF has underperformed the market, down more than 31% year-to-date, now might be a good time to buy telecommunications stocks at a steep discount.
our methodology
We selected the following telecom stocks based on favorable analyst coverage, strong business fundamentals, and market visibility. We assessed hedge fund sentiment from Insider Monkey’s database of 920 elite hedge funds tracked as of the end of Q3 2022. The list is ordered according to the number of hedge fund holders in each company.
Photo by ThisisEngineering RAEng on Unsplash
best telecom stocks to buy now
11. BCE Corporation (NYSE:BCE)
Number of hedge fund holders: 10
BCE Inc. (NYSE:BCE) was founded in 1880 and is headquartered in Verdun, Canada. A telecommunications and media company that provides wireless, wireline, Internet and television services to residential, business and wholesale customers in Canada. On December 13, BCE Inc. (NYSE:BCE) announced the same quarterly dividend of C$0.92 per share as last time. Dividends will be paid on January 16, 2023 to shareholders of record of December 15.
On December 20, National Bank analyst Adam Shine maintained his outperform rating on BCE Inc. (NYSE:BCE) but lowered his price target for the company from C$68 to C$66. rice field.
Ten hedge funds were bullish on BCE Inc. (NYSE:BCE), compared with 12 funds last quarter, according to Insider Monkey’s third quarter database. Jim Simons’ Renaissance Technologies is the company’s largest shareholder, with his 452,598 shares worth $19 million.
Along with T-Mobile US, Inc. (NASDAQ:TMUS), Comcast Corporation (NASDAQ:CMCSA) and AT&T Inc. (NYSE:T), BCE Inc. (NYSE:BCE) is one of the top telecom stocks. . to invest
10. Globalstar Corporation (NYSE:GSAT)
Hedge fund holders: 13
Globalstar, Inc. (NYSE:GSAT) is a Louisiana-based company that provides mobile satellite services worldwide. The company offers dual two-way voice and data products for remote business continuity, recreational use, safety, and emergency preparedness and response. On December 7th, Globalstar, Inc. (NYSE: GSAT) announced a commercial deal with his Wiagro, his Agtech startup in Argentina. The company has supplied Wiagro with 2,500 of his ST100 satellite modem transmitters for the Smart Silobag, and the partnership will go into effect immediately upon completion of his deployment by the end of 2024.
On Nov. 7, B. Reilly analyst Mike Crawford raised his price target on Globalstar (NYSE:GSAT) to $3.75 from $3.25, maintaining a buy rating on the stock. The new target reflects the higher value of Globalstar’s (NYSE: GSAT) MSS business, which will be backed by Apple Inc. (NASDAQ: AAPL) over the next 10 years, analysts said in a research note. told investors.
Thirteen hedge funds were bullish on Globalstar (NYSE:GSAT) as of the end of Q3 2022 (compared to 11 funds last quarter), according to Insider Monkey data. Jason Mudrick’s Mudrick Capital Management is the company’s largest shareholder, holding his 86.8 million shares worth $138 million.
9. TELUS Corporation (NYSE: TU)
Number of hedge fund holders: 19
TELUS Corporation (NYSE:TU), headquartered in Vancouver, Canada, offers a wide range of telecommunications and information technology products and services in Canada. It operates through its Technology Solutions and Digitally Driven Customer Experience segments. One of the best telecom stocks to invest in. On November 4, TELUS Corporation (NYSE: TU) announced its quarterly dividend of C$0.3511 per share. The dividend will be paid on January 3, 2023 to his December 9 shareholders of record.
On Dec. 20, National Bank analyst Adam Shine reiterated an outperforming valuation for TELUS Corporation (NYSE:TU), but lowered its price target from C$35 to C$34. lowered to
Data from Insider Monkey shows that 19 hedge funds were long TELUS Corporation (NYSE:TU) at the end of the third quarter of 2022, compared to 15 funds in the previous quarter. Jim Simons’ Renaissance Technologies is the company’s largest shareholder, with 3.4 million shares worth his $68 million.
8. Iridium Communications (NASDAQ:IRDM)
Number of hedge fund holders: 25
Iridium Communications Inc. (NASDAQ:IRDM) is a Virginia-based company that provides mobile voice and data communications services and products to businesses, US and international governments, non-governmental organizations, and consumers worldwide. On December 8, Iridium Communications Inc. (NASDAQ:IRDM) announced a quarterly dividend of $0.13 per share. Dividends will be paid to shareholders of March 15 on March 30, 2023.
On Oct. 21, Raymond James analyst Rick Prentiss raised his price target on Iridium Communications (NASDAQ:IRDM) to $60 from $51, maintaining a strong buy rating. Iridium Communications Inc. (NASDAQ:IRDM) rose heading into the third quarter, slightly raising its 2022 guidance and further highlighting the solidity of its recurring revenue business model through a range of economic outlooks, analysts say. said in a research note to investors.
According to Insider Monkey data, 25 hedge funds were bullish on Iridium Communications Inc. (NASDAQ:IRDM) as of the end of Q3 2022 (compared to 20 funds last quarter). Kevin Kuebler and Ming Lam’s Silver Heights Capital Management are the company’s largest shareholders, owning 2.5 million shares of his stock worth $110 million.
Baron Funds made the following comments on Iridium Communications Inc. (NASDAQ:IRDM) among its third quarter 2022 investors. letter:
“Iridium Communications Inc. (NASDAQ:IRDM) is leveraging nearly $3 billion invested over several years to build and launch its current satellite network, which now delivers high free cash flow conversion. It’s in what is supposed to be a “cap-ex holiday”. Just a few years ago, the company spent about $400 million a year on capital expenditures, and over the next few years that spending is expected to drop to about $40 million. This indicates that the company’s substantial lead will persist as the capital investment and timeline to launch a competitive product are too large. Iridium hopes to take advantage of the growing need for high-speed L-band networks during this time.
Shares of Iridium Communications Inc., a leading satellite-based mobile voice and data communications services vendor, announced a related development agreement, raising expectations for smartphone compatibility after other market participants announced similar capabilities. increased due to an increase in Additionally, Iridium reports record quarterly results, demonstrating accelerating revenue growth with strong profitability. Finally, growth initiatives continue to mature, including awards from the Space Agency for faster Aireon and Certus products. ”
7. Lumen Technologies (NYSE:LUMN)
Hedge fund holders: 34
Lumen Technologies, Inc. (NYSE:LUMN) is a Louisiana-based technology and communications company that provides integrated products and services under the Lumen, Quantum Fiber and CenturyLink brands to businesses and organizations in the United States and around the world. Serves residential customers. Lumen Technologies, Inc. (NYSE:LUMN) is one of the best telecommunications stocks to invest in.
Lumen Technologies, Inc. (NYSE:LUMN) today announced an investment to expand its city-to-city network across the United States. The telecom company also plans to deploy 6 million fiber miles, which will bring the U.S. city-to-city investment to about 12 million fiber miles. Deployment is expected to take place by 2026.
Goldman Sachs analyst Brett Feldman said on Dec. 6 that Lumen Technologies (NYSE:LUMN) has a neutral rating and a price target of $6, suggesting 15% upside potential. The company is better positioned to execute on its business plan following recent “transformation steps,” analysts told investors.
Data from Insider Monkey shows that 34 hedge funds are bullish on Lumen Technologies (NYSE:LUMN) as of the end of September 2022, compared with 42 last quarter.
Here In its Q1 2022 investor letter, Longleaf Partners Fund said of Lumen Technologies (NYSE:LUMN):
“Lumen – Lumen reported weak organic revenue growth, leading to further weakness in 2022. Revenue growth should rebound towards the end of 2022, while huge FCF coupon weakens value on weak guidance Another factor weighing on the share price was the partial sale of a 10% position in the first quarter by Temasek, the number one shareholder, resulting in a combination of uncertainty and share price overruns. We have filed 13D and continue to ask the company to take steps to address the significant price/value gap, including ongoing share repurchases.”
6. Frontier Communications Parent, Inc. (NASDAQ: FYBR)
Hedge fund holders: 42
Frontier Communications Parent, Inc. (NASDAQ:FYBR) is a Connecticut-based company that provides communications services to US consumer and business customers. Provides data, Internet, voice, video, and other services. On Nov. 2, Frontier Communications Parent, Inc. (NASDAQ: FYBR) added 66,000 fiber to its broadband customers, up 15.8% year-over-year.
On November 9, Citi analyst Anthony Nemoto maintained his buy rating on Frontier Communications Parent (NASDAQ:FYBR) but lowered his price target for the company to $31 from $32. Frontier Communications Parent, Inc.’s (NASDAQ: FYBR) third-quarter results continue to show evidence of the company’s execution of its fiber he upgrade strategy.
Forty-two hedge funds were bullish on Frontier Communications Parent, Inc. (NASDAQ:FYBR), up $2.6 billion from the same number of funds last quarter, according to Insider Monkey’s third-quarter database. I own a dollar worth of stock.
Frontier Communications Parent, Inc. (NASDAQ:FYBR) is one of the leading telecommunications stocks, along with T-Mobile US, Inc. (NASDAQ:TMUS), Comcast Corporation (NASDAQ:CMCSA) and AT&T Inc. (NYSE:T). One. invest in
Click through to read more and see the 5 Best Telecom Stocks to Buy Now.
Recommended articles:
Disclosure: None. 11 best telecom stocks to buy right now was first published on Insider Monkey.