10 Undervalued Tech Stocks Flying Under Wall Street’s Radar

3. Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC)

Analyst Upside Potential as of June 28: 16.11%

Forward P/E: 14.14

Number of Hedge Fund Holders: 15

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) is one of the 10 undervalued tech stocks flying under Wall Street’s radar. Ericsson revealed on June 26 that it is establishing a new unit dedicated to Application-Specific Integrated Circuit (ASIC) design in Bengaluru, India. The company plans to add more than 150 new positions to its R&D team in Bengaluru to support this initiative.

In the statement, Ericsson said the expansion aims to enhance its capabilities in semiconductor design by leveraging India’s local technology competence. At the same time, the company is convinced that the new unit will contribute to strengthening India’s semiconductor ecosystem. The initiative aligns with Ericsson’s global strategy to advance its portfolio, particularly through its Ericsson Silicon platform. The Ericsson Silicon consists of a range of System-on-Chip (SoC) solutions specifically designed for mobile networks. These SoCs are integrated across the entire Ericsson Radio System, including radio access networks (RAN), Compute (basebands), Radio, and Transport.

The Bengaluru unit will focus on tasks such as chip design, verification, and integration, supporting Ericsson’s proprietary Silicon platform. The chips developed are expected to enhance energy efficiency, processing capabilities, and network flexibility for 5G and future network technologies.

Telefonaktiebolaget LM Ericsson (NASDAQ:ERIC) is a Swedish telecommunications equipment and services company. It provides mobile network infrastructure, cloud software, and enterprise connectivity solutions. Its key offerings include RAN, 5G core systems, private cellular networks, and managed services.