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Five Cheap Tech Stocks to Buy Now

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It’s sometimes hard for an average investor to spot tech stocks that are trading at discounts, especially when it comes to under-the-radar stocks that are not fully understood by the market. It’s natural to pay attention to huge, iconic tech companies like Apple and Alphabet, which people are already emotionally invested in, and while those stocks have been tremendous performers in the past, there may not be huge growth in the near future.

However, the market is seething with less-known tech stocks which have explosive growth potential. In this article we have analyzed the latest 13F filings from a collection of only the best hedge funds in the world and come up with a list of five cheap stocks to buy now. Read on to find out which unheralded tech names are attracting the most smart money attention.

At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 39.7% gains over the past 12 months and outperformed the 24.1% gain enjoyed by the S&P 500 ETFs. Our enhanced small-cap hedge fund strategy returned more than 45% over the last 12 months and outperformed SPY by more than 30 percentage points over the last 4.5 years (see details here).

Viavi Solutions Inc (NASDAQ:VIAV)

Viavi Solutions Inc (NASDAQ:VIAV) is a California-based company that provides monitoring and assurance solutions to communications service providers. The company’s stock has gained over 44% during the last six months. Last week, investment firm Rosenblatt started coverage of Viavi Solutions (NASDAQ:VIAV) with a ‘Buy’ rating and a price target of $17.20. Last month, following Viavi’s second quarter results, Jefferies analyst James Kisner said that he was optimistic about the stock amid an expected rebound in demand from carriers, improved growth prospects driven by 3D sensing, and an increase in margins following self-help initiatives. A total of 24 hedge funds tracked by Insider Monkey are bullish on Viavi Solutions Inc (NASDAQ:VIAV) as of the end of the fourth quarter.

SFIO CRACHO/Shutterstock.com

SFIO CRACHO/Shutterstock.com

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On the following pages, we will share the remainder of the cheap tech stocks which are worth your attention.

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