10 Best Cheap Technology Stocks To Buy According to Analysts

6. Sensata Technologies Holding (NYSE:ST)

Forward P/E Ratio: 8.08

Average Upside Potential: 37.45%

Number of Hedge Fund Holders: 31

Sensata Technologies Holding (NYSE:ST) develops and manufactures sensors and sensor-rich solutions, along with electrical protection components, for mission-critical systems globally. Operating through Performance Sensing and Sensing Solutions segments, it provides pressure, temperature, position, and other sensors, as well as electrical protection systems and components. It serves many industries including automotive, industrial, aerospace, and energy.

The company’s Performance Sensing segment, which focuses on automotive and heavy vehicles, is its revenue engine. In 2024, it generated $2.74 billion and held steady despite market contraction. This outperformance, around 350 basis points, is attributed to the company’s market position and winning new business in traditional ICE vehicles. These are vehicles powered by an internal combustion engine (ICE) that burns fossil fuels like gasoline or diesel, as opposed to EVs or other alternative fuel vehicles.

While the broader automotive market struggled, and EV adoption slowed, Sensata Technologies Holding (NYSE:ST) maintained revenue in this segment. Although profit margin dipped slightly due to external factors, the company is positioned to capitalize on the existing ICE market and the growing EV sector.