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Best Computer Hardware Stocks to Buy Now (2023)

Top computer hardware stocks in 2023 ranked by overall Zen Score. See the best computer hardware stocks to buy now, according to analyst forecasts for the computer hardware industry.

According to Zen Score, the 3 best computer hardware stocks to buy right now are:

Canaan (NASDAQ:CAN) is the top computer hardware stock with a Zen Score of 65, which is 31 points higher than the computer hardware industry average of 34. It passed 21 out of 33 due diligence checks and has strong fundamentals. Canaan has seen its stock lose -17.71% over the past year, overperforming other computer hardware stocks by 2 percentage points.

Canaan has an average 1 year price target of $7.67, an upside of 132.33% from Canaan's current stock price of $3.30.

Canaan stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Canaan, 66.67% have issued a Strong Buy rating, 33.33% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Logitech International Sa (NASDAQ:LOGI) is the second best computer hardware stock with a Zen Score of 57, which is 23 points higher than the computer hardware industry average of 34. It passed 20 out of 38 due diligence checks and has strong fundamentals. Logitech International Sa has seen its stock lose -25.94% over the past year, underperforming other computer hardware stocks by -6 percentage points.

Logitech International Sa has an average 1 year price target of $72.33, an upside of 22.6% from Logitech International Sa's current stock price of $59.00.

Logitech International Sa stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Logitech International Sa, 50% have issued a Strong Buy rating, 16.67% have issued a Buy, 16.67% have issued a hold, while 0% have issued a Sell rating, and 16.67% have issued a Strong Sell.

Super Micro Computer (NASDAQ:SMCI) is the third best computer hardware stock with a Zen Score of 57, which is 23 points higher than the computer hardware industry average of 34. It passed 19 out of 33 due diligence checks and has strong fundamentals. Super Micro Computer has seen its stock return 95.51% over the past year, overperforming other computer hardware stocks by 115 percentage points.

Super Micro Computer has an average 1 year price target of $60.00, a downside of -21.33% from Super Micro Computer's current stock price of $76.27.

Super Micro Computer stock has a consensus Hold recommendation according to Wall Street analysts. Of the 2 analysts covering Super Micro Computer, 0% have issued a Strong Buy rating, 0% have issued a Buy, 100% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 6 computer hardware stocks that have issued dividends in the past year, the 3 computer hardware stocks with the highest dividend yields are:

Hp (NYSE:HPQ) has an annual dividend yield of 3.49%, which is 1 percentage points higher than the computer hardware industry average of 2.6%. Hp's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Hp's dividend has shown consistent growth over the last 10 years.

Hp's dividend payout ratio of 32.4% indicates that its dividend yield is sustainable for the long-term.

Seagate Technology Holdings (NASDAQ:STX) has an annual dividend yield of 3.04%, which is the same as the computer hardware industry average of 2.6%. Seagate Technology Holdings's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Seagate Technology Holdings's dividend has shown consistent growth over the last 10 years.

Seagate Technology Holdings's dividend payout ratio of 72.7% indicates that its dividend yield is sustainable for the long-term.

Netapp (NASDAQ:NTAP) has an annual dividend yield of 3.04%, which is the same as the computer hardware industry average of 2.6%. Netapp's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Netapp's dividend has shown consistent growth over the last 10 years.

Netapp's dividend payout ratio of 29.8% indicates that its dividend yield is sustainable for the long-term.

Computer hardware stocks were up 2.13% in the last day, and up 8.21% over the last week. Seagate Technology Holdings was the among the top gainers in the computer hardware industry, gaining 10.86% yesterday.

Seagate Technology shares are trading higher after the company reported better-than-expected Q2 results.

Based on WallStreetZen's Valuation Score, the 3 most undervalued computer hardware stocks right now are:

Canaan (NASDAQ:CAN) is the most undervalued computer hardware stock based on WallStreetZen's Valuation Score. Canaan has a valuation score of 100, which is 63 points higher than the computer hardware industry average of 37. It passed 7 out of 7 valuation due diligence checks.

Canaan's stock has dropped -17.71% in the past year. It has overperformed other stocks in the computer hardware industry by 2 percentage points.

Canon (NYSE:CAJ) is the second most undervalued computer hardware stock based on WallStreetZen's Valuation Score. Canon has a valuation score of 71, which is 34 points higher than the computer hardware industry average of 37. It passed 5 out of 7 valuation due diligence checks.

Canon's stock has dropped -6.96% in the past year. It has overperformed other stocks in the computer hardware industry by 13 percentage points.

Key Tronic (NASDAQ:KTCC) is the third most undervalued computer hardware stock based on WallStreetZen's Valuation Score. Key Tronic has a valuation score of 57, which is 20 points higher than the computer hardware industry average of 37. It passed 4 out of 7 valuation due diligence checks.

Key Tronic's stock has dropped -23.45% in the past year. It has underperformed other stocks in the computer hardware industry by -4 percentage points.