Sectors & IndustriesTechnologyElectronic Components

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:

Universal Display (NASDAQ:OLED) is the top electronic component stock with a Zen Score of 62, which is 27 points higher than the electronic component industry average of 35. It passed 24 out of 38 due diligence checks and has strong fundamentals. Universal Display has seen its stock return 18.2% over the past year, overperforming other electronic component stocks by 5 percentage points.

Universal Display has an average 1 year price target of $200.80, an upside of 27.1% from Universal Display's current stock price of $157.98.

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.

Eltek (NASDAQ:ELTK) is the second best electronic component stock with a Zen Score of 61, which is 26 points higher than the electronic component industry average of 35. It passed 23 out of 38 due diligence checks and has strong fundamentals. Eltek has seen its stock return 177.04% over the past year, overperforming other electronic component stocks by 164 percentage points.

Richardson Electronics (NASDAQ:RELL) is the third best electronic component stock with a Zen Score of 57, which is 22 points higher than the electronic component industry average of 35. It passed 21 out of 38 due diligence checks and has strong fundamentals. Richardson Electronics has seen its stock lose -32.84% over the past year, underperforming other electronic component stocks by -46 percentage points.

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 8.77%, which is 7 percentage points higher than the electronic component industry average of 2.02%. 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 4.59%, which is 3 percentage points higher than the electronic component industry average of 2.02%. 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 3.36%, which is 1 percentage points higher than the electronic component industry average of 2.02%. 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 162.3% indicates that its dividend yield might not be sustainable for the long-term.

Electronic component stocks were down -1.88% in the last day, and up 0.92% over the last week. Sanmina was the among the top losers in the electronic components industry, dropping -5.2% yesterday.

Sanmina shares are trading lower after the company reported mixed Q2 financial results.

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 66 points higher than the electronic component industry average of 34. It passed 7 out of 7 valuation due diligence checks.

Eltek's stock has gained 177.04% in the past year. It has overperformed other stocks in the electronic component industry by 164 percentage points.

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

Flex's stock has gained 38.41% in the past year. It has overperformed other stocks in the electronic component industry by 25 percentage points.

Cps Technologies (NASDAQ:CPSH) is the third most undervalued electronic component stock based on WallStreetZen's Valuation Score. Cps Technologies has a valuation score of 71, which is 37 points higher than the electronic component industry average of 34. It passed 5 out of 7 valuation due diligence checks.

Cps Technologies's stock has dropped -34.21% in the past year. It has underperformed other stocks in the electronic component industry by -47 percentage points.