In this article, we will take a look at the 5 tech stocks with low PE ratio. To see more such companies, go directly to 11 Tech Stocks With Low PE Ratio.
5. EVERTEC, Inc. (NYSE:EVTC)
P/E Ratio: 9.55
Number of Hedge Fund Holders: 26
EVERTEC, Inc. (NYSE:EVTC) is involved in transactions processing business in Latin America and the Caribbean. EVERTEC, Inc. (NYSE:EVTC) provides merchant acquiring services. These services allow e-commerce merchants to accept and process electronic payments. EVERTEC, Inc. (NYSE:EVTC) is a dividend-paying stock, with a yield of 0.58% as of January 13. In October, EVERTEC, Inc. (NYSE:EVTC) declared a $0.05/share quarterly dividend, in line with previous. In the third quarter, EVERTEC, Inc. (NYSE:EVTC)’s fell 0.1% to total $145.8 million but still managed to beat analyst estimates by $1.25 million.
EVERTEC, Inc. (NYSE:EVTC) saw a strong increase in hedge fund sentiment during the third quarter, as 26 funds in our database ended the period with EVERTEC, Inc. (NYSE:EVTC) in their portfolios, compared to 13 funds in the previous quarter.
4. DXC Technology Company (NYSE:DXC)
P/E Ratio: 9.39
Number of Hedge Fund Holders: 37
DXC Technology Company (NYSE:DXC) is an IT services company based out of Virginia. According to Bank of America Global Research, DXC Technology Company (NYSE:DXC) is the second biggest pure-play IT services company, after Accenture. DXC Technology Company (NYSE:DXC) has been in the limelight after the company in October 2022 confirmed media reports that suggested it was in talks with a potential suitor. Subsequent reports from Bloomberg said that Baring Private Equity Asia might be the potential acquirer. However, the takeover talks have not yielded any results and DXC Technology Company (NYSE:DXC) did not get any major lift from the reports. If DXC Technology Company (NYSE:DXC) enters a deal this year, it could benefit the shareholders. Therefore, some investors believe now could be the right time to buy DXC Technology Company (NYSE:DXC).
3. Intel Corporation (NASDAQ:INTC)
P/E Ratio: 9.27
Number of Hedge Fund Holders: 69
The leading semiconductor company Intel Corporation (NASDAQ:INTC) is one of the tech stocks with low PE ratio right now. That’s partly because Intel Corporation (NASDAQ:INTC) has been hammered over the past few months. It has lost about 45% in value over the past year. And it seems investors have a long wait ahead of them before they see Intel Corporation (NASDAQ:INTC) rebound as the semiconductor market is expected to face volatility in 2023. Recently, Intel’s CFO said that Intel Corporation (NASDAQ:INTC) has no “pristine” visibility going into the first quarter of this year. The executive said that Intel Corporation (NASDAQ:INTC) was still dealing with inventory digestion from its customers and he believes the trend would continue into 2023.
2. HP Inc. (NYSE:HPQ)
P/E Ratio: 9.18
Number of Hedge Fund Holders: 42
HP is another notable tech stock with low PE ratio as of January 13. HP Inc. (NYSE:HPQ) is down about 27% over the past year. Despite the weaknesses in the core PC markets, HP Inc. (NYSE:HPQ) is continuing to pay investors dividends. Earlier this month, HP Inc. (NYSE:HPQ) announced $0.2625/share quarterly dividend, in line with previous. Forward dividend yield at the time came in at 3.67%. HP Inc. (NYSE:HPQ) stock gained value in November after some analyst firms gave bullish comments about HP Inc. (NYSE:HPQ). Citi analyst Jim Suva said that HP Inc. (NYSE:HPQ)’s layoffs plan and belt tightening could result in cost savings of $1.4 billion by fiscal 2025.
As of the end of the third quarter of 2022, 42 hedge funds tracked by Insider Monkey reported having stakes in HP Inc. (NYSE:HPQ), compared to 35 funds in the previous quarter.
1. Avnet, Inc. (NASDAQ:AVT)
P/E Ratio: 5.65
Number of Hedge Fund Holders: 27
Avnet, Inc. (NASDAQ:AVT) is an Arizona-based company that makes electronics components. Avnet, Inc. (NASDAQ:AVT) ships more than 117 billion electronic components per year to over 2 million customers. Avnet, Inc. (NASDAQ:AVT) is operating in two segments: Electronics Marketing (EM) and Premier Farnell (PF).
Avnet, Inc. (NASDAQ:AVT) is also a dividend payer. Back in November, Avnet (NASDAQ:AVT) declared a $0.29/share quarterly dividend, in line with previous. Forward dividend yield at the time came in at 2.62%.
As of the end of the third quarter, 27 hedge funds tracked by Insider Monkey had stakes in Avnet, Inc. (NASDAQ:AVT). The total value of these stakes was $610 million.
You can also take a peek at 11 Best Stocks To Buy for Deflation and 15 Most Innovative Countries in the World.
