Most stocks have been under significant pressure so far in 2022. However, tech stocks have been some of the worst performers by far. Of course, not all tech stocks are created equal. Some are high-growth names with little to no profit. Others are undervalued tech stocks with dividends.

Many of these stocks tend to be some of the “unsexy names of tech,” but that doesn’t make the reality untrue. The stocks in this group tend to command low valuations (in bull and bear markets), while paying out a dividend.

The dividend yields in tech do not tend to be market-leading payouts, but that’s because investors are willing to sacrifice some of that yield in exchange for hopefully higher growth. For what it’s worth, these stocks also tend to have more durable earnings.

That’s not to say these undervalued tech stocks with dividends are immune to recessions — they aren’t — but their earnings will hold up better than many other tech stocks. Let’s look at them now.

Texas Instruments (TXN)

I was going to lead with Intel (NASDAQ:INTC), but it is forecast to see a 35% drop in earnings this year. Then I was going to lead off with Cisco Systems (NASDAQ:CSCO), but it just provided a disappointing outlook at its most recent quarterly update. So that brings us to Texas Instruments (NASDAQ:TXN).

Similar to Cisco, the company packs an impressive dividend yield and unlike Intel, it actually has solid growth.

Texas Instruments pays out a 3.1% dividend yield, so investors looking for some safety and some income can lean on this name for both. While it trades at about 16 times earnings, the company is forecast to grow revenue 5.6% this year and its earnings by 8%.

Perhaps best of all has been its relative strength. The VanEck Semiconductors ETF (NASDAQ:SMH) recently hit a 52-week low and was down 40% from its high. From its high, TXN stock is down “just” 25%. That also outperforms all FAANG components and the Nasdaq.

Oracle (ORCL)

Oracle (NYSE:ORCL) can be an easy one to forget about, but it’s making some serious strides in the cloud. The stock does not pay as robust of a dividend yield, at 1.8%. However, it trades at just over 13 times earnings.

That’s even as analysts expect almost 18% revenue growth this year and 6% growth in 2023. Further, estimates call for 7% earnings growth this year and an acceleration up to 13% growth next year.

Helping drive that growth is the company’s recent acquisition of Cerner. The $28.3 billion just closed last month and the health IT company gives Oracle a completely new angle to pursue growth. Revenue growth was not blowing anyone away in the mid-single-digits, but annual free cash flow of roughly $1.1 billion will do well for Oracle — a company that already cash flows pretty well.

Apple (AAPL)

The biggest gripe against Apple (NASDAQ:AAPL) being on this list will be its dividend. With a yield of just 0.7%, its main purpose in one’s portfolio certainly isn’t for income. However, it can still be considered undervalued, it is a tech stock and it does pay a dividend. In that sense, it checks all of the boxes.

The company has one of the strongest balance sheets in the world with robust cash flow and an impressive business model. Some may view Apple as undervalued thanks to its Services business. While its Products business gets most of the attention — like the iPhone and iPad — its Services unit has better growth and double the margins.

Further, Apple is outperforming all of its FAANG peers, as well as the Nasdaq. So when looking for a place to hide, this name may offer some reprieve.

Lastly, the company has made a serious commitment to returning capital to shareholders. While its dividend payout is modest, its increases have been notable. Apple has increased its dividend for nine straight years and sports a five-year growth rate of roughly 9%. Lastly, the company also commits to a sizable buyback plan. Last quarter, Apple added $90 billion to its repurchasing efforts.

Microsoft (MSFT)

If we’re going to talk about Apple, we might as well add Microsoft (NASDAQ:MSFT) to our list of undervalued tech stocks with dividends.

Years ago, Microsoft was better known for its dividend as the yield was considerably higher. However, I think long-term investors are fine with seeing the yield decline — now at just 1% — as a response to the strong rally in its stock price.

In any regard, Microsoft is also a safe place to park some cash. It has a robust balance sheet, dependable earnings and strong forecasts. Analysts expect revenue to grow 18% this year and 14% next year, while earnings forecasts sit at 15.5% growth for both years.

When we consider all of those factors, plus Microsoft’s outperformance of FAANG (excluding Apple), I think it’s a name bulls need to consider regardless of how obvious it seems.

International Business Machines (IBM)

Many investors won’t believe it, but International Business Machines (NYSE:IBM) has been one of the best-performing tech stocks this year. In 2022 and over the last 12 months, shares are up about 2% amid both timeframes.

If we take Apple for example, shares are down about 1% over the past 12 months, but are down more than 20% so far in 2022. When compared to the Nasdaq’s return — down 25% and 30%, respectively — IBM’s performance becomes even more impressive.

Why is that the case? It helps that IBM stock trades at just 13 times earnings and pays out a near-5% dividend yield. It also helps that the company is forecast to grow earnings 22% this year on 6.5% revenue growth.

Estimates call for modest growth in 2023 too, with 7.5% earnings growth on 3.5% revenue growth. However, given IBM’s combination of growth, low valuation and a handsome yield continue to bring in the buyers, its stock performance is simply the cherry on top.

Qualcomm (QCOM)

Qualcomm (NASDAQ:QCOM) has not fared as well as IBM over the last year, down 23%. However, that outperforms the Nasdaq, while offering a solid 2.5% dividend yield. Like many chip stocks, Qualcomm also comes with a low valuation.

Shares currently trade at roughly 10 times this year’s earnings forecast. Analysts expect almost 50% earnings growth this year to $12.53 a share on revenue growth of 33%. For Qualcomm, the good fortune may continue.

Apple is reportedly struggling to develop its own 5G modem chip for its iPhone. As a result, the company will likely lean on Qualcomm to provide the necessary equipment.

Dell (DELL)

Dell (NYSE:DELL) stock is not a name many investors planned on owning after the company was taken private. Michael Dell had a vision for the company that he founded in 1984 — he just wasn’t able to complete that vision with Dell listed as a public company. After it went public again in late 2018, it was not a name many investors had on their buy list.

Following the transformation, the company now has a much stronger business and the market is taking notice.

Still, it seems like Dell stock continues to fly under the radar. That’s as Dell stock trades at an insultingly low valuation of just 6 times this year’s earnings estimates. For a company that’s forecast to grow its profits almost 14% this year and 6.5% next year, investors may view Dell as a value play.

When its low valuation is coupled with its 3.1% dividend yield, that may be enough to lure in longer-term buyers.

On the date of publication, Bret Kenwell did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.