Top 5 Undervalued Tech Stocks

In this article we will take a look at the top  5 undervalued tech stocks. For a detailed analysis of the technology industry, go directly to the Top 10 Undervalued Tech Stocks.

5. SunPower Corporation (NASDAQ: SPWR)

Number of Hedge Fund Holders: 24

SunPower Corporation (NASDAQ: SPWR) is a San Jose-based company that provides solar solutions. The company markets these solutions to a network of dealers who then sell them to residential, commercial and industrial clients. SunPower makes solar systems that can be mounted on roofs, carports, and backyards. The firm also provides maintenance for these systems.  It has a market cap of $4.7 billion and posted an annual revenue of more than $1.1 billion in December 2020. It is ranked fifth on our list of top 10 undervalued tech stocks.

SunPower is expected to benefit from a proposed US government plan to extend tax credits for clean energy firms. President Biden has backed the extension of the tax credits and also promised to invest heavily in clean energy to tackle climate change. Back in March, the stock rating of SunPower was upgraded to Buy from Neutral by Goldman Sachs, one of he leading investment banks in the world. Out of the hedge funds being tracked by Insider Monkey, New York-based investment firm DE Shaw is a leading shareholder in the firm with more than 4.5 million shares worth more than $123 million.