The breathtaking run in technology stocks has dominated the financial headlines this year since the massive February and March selloff. In fact, the 10 biggest stocks in the S&P 500 from a market capitalization standpoint, which include the gigantic technology leaders, now represent a stunning 29% of the index. The Nasdaq is up over 25% and has set over 32 records this year.

Many strategists across Wall Street have become concerned over market concentration, and while from a valuation perspective it is nowhere near the absurd levels of the dot-com era, from a market concentration perspective it could be a bubble, with the Nasdaq five (Facebook, Apple, Amazon, Microsoft and Google) representing nearly 25% of the S&P 500.

For nervous technology investors that want to stay in the sector, a move to the dividend-paying legacy leaders might be a great idea now. We screened our 24/7 Wall St. research database looking for Buy ratings on some of the oldest and most reliable tech companies.

Cisco

This is a mega cap tech leader for more conservative accounts to consider. Cisco Systems Inc. (NASDAQ: CSCO) designs, manufactures and sells internet protocol (IP) based networking products and services related to the communications and information technology industry worldwide.

It provides switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points and servers, as well as next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice and video applications.

Cisco’s cybersecurity products give clients the scope, scale and capabilities to keep up with the complexity and volume of threats. Putting security above everything helps corporations innovate while keeping their assets safe.

The company reported in-line revenues for the quarter, but the disappointing guidance caused some sellers to come in. Many on Wall Street remain positive as 5G, 400G, optical and WiFi 6 are expected to drive 2021 growth.

Holders of Cisco Systems stock receive a 3.41% dividend. BofA Securities has its target price set at $52, which compares with the Wall Street consensus target of $48.81 and Monday’s close at $42.18 per share.

Intel

This legacy leader in semiconductors has continued working hard to focus more on Internet of Things and data center cloud spending. Intel Corp. (NASDAQ: INTC) designs, manufactures and sells integrated digital technology platforms worldwide. Its chief executive was one of the highest paid last year.

The company’s platforms are used in various computing applications, comprising notebooks, two-in-one systems, desktops, servers, tablets, smartphones, wireless and wired connectivity products, wearables, retail devices and manufacturing devices, as well as for retail, transportation, industrial, buildings, home use and other market segments.

The stock has taken a hit recently due to concerns over 7 nanometer chips, but now the company has announced that it has encountered issues with its upcoming 7 nanometer process that will result in delays for the next generation of chips, too. Many remain positive about Intel’s upcoming Tiger Lake series, which some feel will beat AMD in single-thread performance while being competitive in multithread, despite having half the number of cores.

Shareholders receive a 2.68% dividend. The Credit Suisse price target is a giant $70, well above the $55 consensus target. Intel stock ended Monday at $49.14 a share.

This blue chip giant still offers investors a very solid entry point after posting the best quarters for earnings in years. International Business Machines Corp. (NYSE: IBM) is a leading provider of enterprise solutions, offering a broad portfolio of information technology (IT) hardware, business and IT services, and a full suite of software solutions. The company integrates its hardware products with its software and services offerings in order to provide high-value solutions.

IBM’s five major segments are: 1) Cognitive Solutions, 2) Global Business Services, 3) Technology Services & Cloud Platforms, 4) Systems and 5) Global Financing. Analysts cite the company’s potential in the public cloud as a reason for their positive outlook going forward. Note that IBM is one of the world’s most valuable brands.

The company’s CEO, Ginni Rometty, who had been in the position since 2012, stepped down in January, and the stock market greeted the news in a very positive manner. Arvind Krishna, who has led the company’s cloud computing business, was named the new chief executive. Rometty will remain as executive chair of the board until the end of the year.

Shareholders receive a 5.29% dividend. The $170 BofA Securities price target is well above the posted consensus target of $138.56. The final IBM stock trade on Monday came in $125.68.

Oracle

This top software stock has bounced nicely off its 2020 low but still offers a very good entry point. Oracle Corp. (NYSE: ORCL) develops, manufactures, markets, sells, hosts and supports database and middleware software, application software, cloud infrastructure, hardware systems and related services worldwide. It also is one of the most valuable brands in the world.

The company licenses its Oracle Database software to customers, which is designed to enable reliable and secure storage, retrieval and manipulation of various forms of data. Its Oracle Fusion Middleware software aims to build, deploy, secure, access and integrate business applications, as well as automate their business processes.

Oracle announced recently that Nissan is migrating its on-premises, high-performance computing workloads to Oracle Cloud Infrastructure. Nissan relies on a digital product design process to make quick and critical design decisions to improve the fuel efficiency, reliability and safety of its cars. By moving its performance and latency sensitive-engineering simulation workloads to Oracle Cloud, Nissan will be able to speed the design and testing of new products.

Shareholders receive a 1.74% dividend. The Credit Suisse team has a $62 price objective. The $50.27 consensus price target is below the $56.01 most recent close for Oracle stock.

Texas Instruments

This old-school legacy semiconductor tech company offers solid value at current levels and is a great pick for investors who are more conservative. Texas Instruments Inc. (NASDAQ: TXN) is a broad-based supplier of semiconductor components, ranging from digital signal processors to high-performance analog components, to digital light-processing technology and calculators.

Some 65% of the company’s sales are exposed to the well-diversified, business-to-business industrial, automotive, communications infrastructure and enterprise markets. While business from those sectors, especially automotive, could suffer in the near term, the analyst feels the solid dividend should support the shares.

The company is also a big Apple supplier, so the long-term outlook for this venerable leader makes it a safer bet for accounts with less risk tolerance.

Investors receive a 2.57% dividend. The BofA Securities price target for Texas Instruments stock is $155. At $139.68, the consensus target less than the most recent close at $141.02 a share.

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These five legacy leaders have been around for decades, and while they may not have the stunning growth potential some of the FAAMG stocks have, they have one thing that makes it easier for investors to sleep at night, and that’s dependability and staying power.

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