CNBC Pro screened for companies with the lowest forward P/E ratios relative to the average in the S&P 500 tech sector.
Tech stocks have been having a breakout year after a difficult end to 2022. While many tech stocks have surged year to date, some are trading cheaper than their peers. The S & P 500 tech sector is the best performer year to date, jumping about 33% in 2023. In contrast, the broad market index has gained 9.5% during the same period.
Analysts on average are overweight on the stock, according to FactSet data. Notably, the company also has the smallest market cap out of the selection of chip companies. While shares are up more than 15% in 2023, they have fallen 3.3% over a 12-month period. NXP Semiconductors is another chipmaker on the list. The Dutch company is trading at relative 12-month P/E ratio of 0.48. Analysts are also overweight on NXP. Shares are up more than 14% year to date.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hennessey VelociRaptor 500 Ranger takes matters to 500 hp and 550 lb-ft - AutoblogHennessey announces the 2024 VelociRaptor 500 Ranger, built atop the new Ford Ranger Raptor. It upgrades the TT V6 to 500 hp and 550 lb-ft.
Read more »
Indianapolis 500 promos: Get up to $3,250 in bonuses, plus Indy 500 oddsThe auto racing world converges on Indianapolis Motor Speedway this Sunday for the world-famous Indianapolis 500. There are more than $3,000 in Indianapolis 500 sports betting promos and bonuses available.
Read more »
Man who dumped 500 pounds of pasta in N.J. woods won’t be chargedOfficials say the man was getting rid of spaghetti and macaroni his late mother had hoarded.
Read more »
500 Migrants Missing in the Middle of the Mediterranean SeaAlarm Phone, a group that contacts migrant vessels in distress, said it lost contact with the boat on Wednesday after it reported losing its engine.
Read more »
500-acre mixed-use project set to launch at key Collin County intersectionBillingsley Co.'s 500-acre Sloan Corners development straddles U.S. 75 in Allen and Fairview.
Read more »
Indy native Angela Brown to sing 'God Bless America' at Sunday's Indy 500World-renowned opera singer and Indianapolis-native Angela Brown will again sing 'God Bless America' at this year's running of the Indy 500.
Read more »