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Best Electronic Component Stocks to Buy Now (2024)

Top electronic component stocks in 2024 ranked by overall Zen Score. See the best electronic component stocks to buy now, according to analyst forecasts for the electronic components industry.

According to Zen Score, the 3 best electronic component stocks to buy right now are:

Eltek (NASDAQ:ELTK) is the top electronic component stock with a Zen Score of 61, which is 27 points higher than the electronic component industry average of 34. It passed 23 out of 38 due diligence checks and has strong fundamentals. Eltek has seen its stock return 171.87% over the past year, overperforming other electronic component stocks by 156 percentage points.

Universal Display (NASDAQ:OLED) is the second best electronic component stock with a Zen Score of 58, which is 24 points higher than the electronic component industry average of 34. It passed 22 out of 38 due diligence checks and has strong fundamentals. Universal Display has seen its stock return 19.35% over the past year, overperforming other electronic component stocks by 4 percentage points.

Universal Display has an average 1 year price target of $200.80, an upside of 28.45% from Universal Display's current stock price of $156.32.

Universal Display stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Universal Display, 40% have issued a Strong Buy rating, 40% have issued a Buy, 20% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Lsi Industries (NASDAQ:LYTS) is the third best electronic component stock with a Zen Score of 56, which is 22 points higher than the electronic component industry average of 34. It passed 21 out of 38 due diligence checks and has strong fundamentals. Lsi Industries has seen its stock return 12.69% over the past year, underperforming other electronic component stocks by -3 percentage points.

Lsi Industries has an average 1 year price target of $19.00, an upside of 27.35% from Lsi Industries's current stock price of $14.92.

Lsi Industries stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Lsi Industries, 50% have issued a Strong Buy rating, 50% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 15 electronic component stocks that have issued dividends in the past year, the 3 electronic component stocks with the highest dividend yields are:

Deswell Industries (NASDAQ:DSWL) has an annual dividend yield of 8.51%, which is 7 percentage points higher than the electronic component industry average of 1.98%. Deswell Industries's dividend payout is not stable, having dropped more than 10% two times in the last 10 years. Deswell Industries's dividend has shown consistent growth over the last 10 years.

Deswell Industries's dividend payout ratio of 51.9% indicates that its high dividend yield is sustainable for the long-term.

Methode Electronics (NYSE:MEI) has an annual dividend yield of 4.56%, which is 3 percentage points higher than the electronic component industry average of 1.98%. Methode Electronics's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Methode Electronics's dividend has shown consistent growth over the last 10 years.

Methode Electronics's dividend payout ratio of -34.6% indicates that its dividend yield might not be sustainable for the long-term.

Corning (NYSE:GLW) has an annual dividend yield of 3.34%, which is 1 percentage points higher than the electronic component industry average of 1.98%. Corning's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Corning's dividend has shown consistent growth over the last 10 years.

Corning's dividend payout ratio of 153.4% indicates that its dividend yield might not be sustainable for the long-term.

Electronic component stocks were up 1.94% in the last day, and up 2.11% over the last week. Benchmark Electronics was the among the top gainers in the electronic components industry, gaining 18.06% yesterday.

Shares of companies within the broader tech sector are trading higher amid market strength after the Fed on Wednesday left rates unchanged and Fed's Chair Powell said it is unlikely that the next policy rate move would be a rate hike.

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

Eltek (NASDAQ:ELTK) is the most undervalued electronic component stock based on WallStreetZen's Valuation Score. Eltek has a valuation score of 100, which is 68 points higher than the electronic component industry average of 32. It passed 7 out of 7 valuation due diligence checks.

Eltek's stock has gained 171.87% in the past year. It has overperformed other stocks in the electronic component industry by 156 percentage points.

Cps Technologies (NASDAQ:CPSH) is the second most undervalued electronic component stock based on WallStreetZen's Valuation Score. Cps Technologies has a valuation score of 71, which is 39 points higher than the electronic component industry average of 32. It passed 5 out of 7 valuation due diligence checks.

Cps Technologies's stock has dropped -37.69% in the past year. It has underperformed other stocks in the electronic component industry by -53 percentage points.

Flex (NASDAQ:FLEX) is the third most undervalued electronic component stock based on WallStreetZen's Valuation Score. Flex has a valuation score of 71, which is 39 points higher than the electronic component industry average of 32. It passed 5 out of 7 valuation due diligence checks.

Flex's stock has gained 34.94% in the past year. It has overperformed other stocks in the electronic component industry by 19 percentage points.